Fintech-Enabler Startup Pallav Receives Seed Funding, Helps Credit Institutions Digitize

Startups fintech-enabled Pallav announced the acquisition of an undisclosed amount of seed funding from investors including M Venture Partners, Kadan Capital, and Monk's Hill Ventures. In addition, several senior executives in the financial sector, such as Jefferson Chen (founder Advanced Intelligence Group) and Arun Pai (former Flow/AsiaCollect executive), also participated in the investment. Pallav will use the funds to accelerate business growth and expand the team to meet growing market demand.

Pallav aims to build a credit operating system that helps traditional financial institutions in Indonesia and beyond. Co-founder & CEO Pallav Nathan Gunawan, stated that their main focus is to strengthen financial access for the wider community who need credit, by empowering banks and other financial institutions to be more efficient and profitable.

Apart from Pallav, a number of local startups were also present as fintech-enabled help traditional financial institutions digitize. For example Finfra, they enable businesses to add lending features into their business models, for example for business scenarios. invoice financing or financing solutions purchasing. In addition, there is also Komunal which focuses on helping the BPR digitalization process.

Digital transformation for traditional financial institutions

One of the major challenges identified by Pallav in the operations of traditional financial institutions is the manual and inefficient collection practices. This method not only makes it difficult for institutions to serve higher-risk customers but also increases operational costs. To address this issue, Pallav introduced a loan servicing module that supports high-risk lending and optimizes the collection process through advanced technology.

The Pallav platform, which is ISO-27001 certified, is equipped with template AI-based behavior, digital billing processes, and monitoring dashboards that ensure compliance with the Financial Services Authority (OJK)'s stringent regulations. These solutions help banks scale their loan recovery efforts more effectively.

Launched in April 2024, Pallav has now partnered with nearly 20 financial institutions in Indonesia. Its loan servicing module helps increase loan recovery by up to 30% compared to conventional methods used by financial institutions previously.

Led by Nathan Gunawan, Jason Rusli, Vikram Jain, and Sajan Pruthi, the Pallav team has extensive experience in the financial and technology industries. They have previously been involved in innovative projects at companies such as Bain & Company, TravelokaPayLater, and MoneyView in India.

With this new funding, Pallav is committed to continuing to develop technology that can transform financial services in Indonesia, especially in the lending space, in order to provide safer and more efficient solutions for the wider community.

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Disclosure: This article was produced with AI technology and supervision of the content writer