Fintech Company Pintek Receives Pre-Series A Funding from Global Founders Capital

Pintek, a financial technology startup providing funding solutions for educational purposes, announced that it has secured Pre-Series A funding with an undisclosed fund led by Global Founders Capital (GFC). This funding was received by SoCap, the parent company of Pintek. The plan, with this funding, the company will focus on developing a technology platform and commercial team.

Pintek specifically offers solutions for those who want to get loan funds for educational purposes. GFC as the leader of this funding round sees something unique and is quite interested in seeing how this company grows in the future.

"We look forward to working with the Pintek team on their mission to provide better access to education for millions of Indonesians. The Pintek team has identified a unique holistic approach to education financing, working closely with educational institutions, and we are excited to support this new phase company growth," GFC Partner Tito Costa.

Also involved in the funding are former investors Finch Capital and Amand Ventures. Finch Capital Managing Partner Hans De Back said that they are quite happy to be part of Pintek because they see the huge potential to be able to bridge the financing gap in the formal and non-formal education sectors.

"We find it equally important for education to be financially inclusive and accessible to everyone in Indonesia," said Hans.

Smart which started operating in 2018, has now collaborated with almost 100 educational institutions and has distributed financial assistance education in 22 provinces in Indonesia.

"Pintek has experienced explosive growth, especially since the funding round earlier this year. From May to October our monthly users increased 20 times with default rate below 1%. We need to grow our team to meet customer demands and expand our product offering. We are looking to double our technology and commercial teams in the next quarter," said SoCap and Pintek Co-Founder Ioann Fainsilber.