Pintek in Negotiations for Continued Series A Funding, FMO Potentially Involved

After announcing the gain series A pendanaan funding worth almost 100 billion Rupiah at the end of 2021, Pintek is reportedly in discussions for an extension of the series A. FMO, the Dutch international development bank has the potential to be included in the funding.

DailySocial.id tried to contact Pintek regarding this. The company's representative confirmed that the company is indeed exploring the potential for funding in the extension of series A with FMO. However, it is currently still in the discussion stage and there is no official agreement yet.

Reporting from Deal Street Asia, FMO interest to invest in the platform p2p loans This special education is also exposed in the company's openness.

In yesterday's round, Pintek's investors included Kaizenvest, Heritas Capital, Blue7, and Earlsfield Capital. In addition, there are also previous investors, such as Finch Capital, Global Founder Capital (GFC), Accion Venture Lab, Strive, and Fox Ventures.

Impact investment

As an entrepreneurial development bank, FMO has a mission to empower entrepreneurs to build this better world. To that end, the company invests in businesses, projects and financial institutions, providing financing, knowledge and networks to support sustainable growth.

This investment focuses on a number of the SDGs and on key sectors critical to economic and social progress and has a strong position in the Development Financing Agency (DFI) market.

This is not the first time the company has been involved in investing in Southeast Asia. Previously, FMO had disbursed funding loans to PT Indosurya Inti Finance with the aim of financing Indonesian MSMEs. In addition, this Dutch development bank is also involved in managed funds Jungle Ventures, a venture capitalist with an investment focus in Southeast Asia.

Pintek business development

Since its establishment in 2018, Smart and its affiliates have supported more than 2.750 educational institutions and 100 educational SMEs to reach more than 650 thousand students, and provide financial education content to the public with 1,3 million unique monthly visitors. This achievement makes Pintek optimistic about targeting 10 million customers in the ecosystem in the next five years.

The company also claims to have disbursed loan funds of Rp. 14.8 billion to 849 loan recipients. With large loans ranging from Rp. 3 million to Rp. 300 million. The interest offered ranges from 0-1.5 percent per month.

Recently, Pintek has also collaborated with SIPlah. Through the SIPLah program, Pintek continues to be committed to being one of the driving wheels of education in Indonesia by inviting educational businesses/SMEs to develop more optimal business potential through the digitalization process.

This is one of Pintek's steps in supporting the development of education business actors/SMEs, especially those who have businesses in the procurement of educational needs in Indonesia.

Besides Pintek, a number of  Others in Indonesia also have a focus on the education sector, including Danadidik, Cicil, and KoinPintar from Koinworks.