Modalku Supports Tokopedia Priority Balance Feature

Modalku and Tokopedia cooperate to support features Priority Balance. A feature developed to expedite seller cash flow by allowing users to withdraw 80% of funds in advance from a transaction. Modalku takes on the role of a lender. Priority Balance process is made as simple as possible, fast, and designed without collateral.

The strategic collaboration between the two is a unifying vision to support financial inclusion in Indonesia. Tokopedia as a marketplace service provider plays a role in opening opportunities for anyone to have a business and start their own business, while Modalku has a role to expand access to business capital loans without collateral for those whose financing needs have not been served by the existing system.

"In presenting innovations and new features, Tokopedia always focuses on answering the problems faced by users. The existence of Priority Balance makes it easy merchant to run their business smoothly without any obstacles in the cash flow cycle. This is in line with our focus on promoting financial inclusion for the people of Indonesia and also with our mission to achieve economic equality digitally," explained the Head of Financial Technology. Tokopedia Samuel Sentana.

Meanwhile, Modalku, who is a partner in providing capital in the Priority Balance feature, hopes that with the Priority Balance feature, merchant cash flows will be smooth and not hamper the ongoing business.

"Indonesian MSMEs make an extraordinary contribution to the country's economy. However, when discussing MSMEs, the discussion cannot be separated from business people and business people online merchant. Although individually their business is not big, but they are part of the sector that causes the digital economy in Indonesia to grow rapidly like this. These online merchants also need business funds for business development. The Modalku team together with Tokopedia hope that Prioritas Balance can be the answer to their financing needs," explained Co-Founder and CEO my capital Reynold Wijaya.

The collaboration between Modalku and Tokopedia for Prioritas Balance is a new breakthrough for the segment e-commerce marketplace. In addition to benefiting sellers in terms of capitalizing, this collaboration also marks a mutually beneficial collaboration, and next year it is not impossible that there will be more cross-segment collaborations that can be mutually beneficial.

"These online merchants also need business funds for business development. The Modalku team together with Tokopedia hope that Prioritas Balance can be the answer to their financing needs," added Reynold.

Modalku as a service provider peer-to-peer lending has managed to disburse more than IDR 3,5 trillion for SMEs in Southeast Asia since it was first established. IDR 2 trillion of which was channeled to Indonesian SMEs.