Natural Sharia Fintech Startup Books 20 Billion Rupiah Funding

PT Alami Teknologi Sharia Group (Alami) has successfully secured the latest funding round seeds. The investment was led by Golden Gate Ventures with the involvement of RHL Ventures, Agaeti Ventures and Aamir Rahim through Zelda Crown.

"Because this is still an MoU, we can't yet disclose the amount, but the value is above 20 billion Rupiah," said Founder & CEO Experience Dima Djani at the 6th Indonesia Sharia Economic Festival.

Dima said that all of the fresh funds would be used for technology development, operational optimization, and product marketing. As is known, Alami provides sharia-based financial products.

Experience the focus yourself as a platform p2p loans for small and medium enterprises (SMEs) as the market. However, with this new funding, Alami opens up the possibility to expand capital for smaller business actors.

"Currently, we are still focusing on SMEs, but with this funding we will explore new products, one of which might go into microfinance," Dima added.

Another step that will be taken by Alami is to redevelop their aggregator service. In Alami's history, aggregator services were introduced first with the aim of making it easier for SMEs to get loans from Islamic financial institutions.

In addition, Dima also said that the entire funding process was carried out according to sharia, so it was claimed to be the first sharia-based funding agreement with venture capital in Southeast Asia.

Dima sees that the openness factor is still missing as a consideration for domestic sharia business actors. He gave an example of how sharia business is difficult to develop because it is so selective with investors who want to cooperate.

"Because in the end, Islam is for everyone. Anyone who wants it, as long as we follow our sharia structure is OK," said Dima.

Experience claims to have disbursed financing of around Rp50 billion in the May-October 2019 period. The number of funders who joined was around 1.500 people. With this new funding, Alami hopes to expand its services for the next year.