1. Startups

Startup P2P Lending People's Capital Focuses on MSMEs and Millennials

Presenting current product concepts, one of which is the introduction of prospective borrowers through videos

Industry fintech local arrival of new players. Named Modal Rakyat, the startup provides services p2p loans for SMEs. People's Capital officially does soft launch in July 2018, after being officially registered and getting a supervisory permit from the OJK.

This startup was founded by four people co-founder, namely Stanislaus Tandelilin (Co-Founder of SaleStock), Hendoko Kwik, Christian Hanggra, and Wafa Taftazani (Country Strategic Partnership Manager of YouTube Indonesia).

"Like Dianrong in China and Capital Trust in India, we want to be technology financial lending the only one that provides capital distribution to two productive segments, namely the micro and small and medium business segments. The penetration we hope is to reach all corners of Indonesia," said CEO Stanislaus Tandelilin, who is fondly called Stanis, to DailySocial.

MSME funding opportunities are wide open

Despite the landscape p2p loans already many players, team People's Capital keep optimistic. They revealed that currently there are at least more than 57 million MSMEs that need access to funding. This increase was also accompanied by public awareness of financial education.

"... this is evidenced by the number of millennials who have started to become financiers in the People's Capital," continued Stanis.

Targeting young people as lenders, Modal Rakyat also creates product innovations to accommodate existing needs and trends. One that is being carried out is the use of features streaming videos like Instagram TV to introduce MSMEs that will borrow funds. The video will display information about the type of business, place of business, and even the business activities of the borrower.

On the consumer side (borrowers), in the near future, Modal Rakyat will also launch a loan option for the micro segment to agents or credit stalls by utilizing technology big data and machine learning. Stanis strongly believes that this product will be a breakthrough financial solution in the micro business segmentation.

While the existing loan options, for the small and medium business sector, the People's Capital product is financing invoice. Meanwhile, for micro-enterprises, Modal Rakyat provides business capital, either in cash or in the form of goods that are ready to be sold.

Funding page on the People's Capital / People's Capital platform

In the middle of finalizing the funding process

To increase the scope and traction of the business, the Modal Rakyat team is currently in the process of closing the initial funding (seed funding) with a value of up to 7 digital. Currently there are several investors who want to participate. The People's Capital Team discusses and ensures the management of the permit for the funding to the OJK.

In addition, many things are also being sought to attract lenders. The benefits offered themselves reach 18% per year, with loan tenors that are quite diverse, starting from one month. Screening MSMEs as borrowers is also the focus of the People's Capital team.

“We are here as an alternative funding platform that grows wealth with interest on deposits. We also do not forget to reduce the existing funding risk through collateral and insurance,” said Stanis.

Regarding the process of ensuring the quality of borrowers, Stanis also explained the mechanism of the field survey carried out.

“So far we have conducted field surveys and taken videos of every business we have visited. This is in line with our goal of ensuring transparency and security for lenders.”

Are you sure to continue this transaction?
Yes
No
processing your transactions....
Transaction Failed
try Again

Sign up for our
newsletter

Subscribe Newsletter
Are you sure to continue this transaction?
Yes
No
processing your transactions....
Transaction Failed
try Again