1. Startups

Wifkain Expands Fashion Manufacturing Supply Chain Financing Features

Cooperating with KoinWorks as a funding partner; in its debut, 600 bailout applications were recorded from partners

Wifkain is a platform that connects fashion businesses with manufacturing companies. To expand their services, they partner with KoinWorks to provide productive capital to MSMEs in their ecosystem. There are now more than 600 capital applications being processed.

To DailySocial.id,Co-Founder & Wifkain CEO Sara Sofyan revealed the speed of the process and the support from service partners fintech play an important role for the company, so that the whole leads those who enter can be served well. This model will also continue to be expanded, thereby making the business model more efficient, especially in terms of cash flow.

Strategic collaboration targets MSMEs

There are currently more than 2 million users KoinWorks access its financial services and the majority are active in the fashion industry. KoinWorks through KoinInvoice provides supply chain financing to support MSMEs in the fashion sector in partnership with Wifkain. With the hope of creating more sales opportunities thereby creating business growth.

Wifkain cooperates with KoinWorks as a strategic partner to provide supply chain financing for factory partners and fashion brands who are partners. Mill partners can also accept prepayment and para fashion brands have the opportunity to pay up to 6 months later.

In particular, the Manufacturing-as-a-Service (MaaS) service from Wifkain wants to make it easier for entrepreneurs to get designs or sewing patterns that they want, as well as simplify the process textile procurement, manufacturing, quality assurance, and provision of logistics in an easier and faster way.

Until now, Wifkain, which is headquartered in South Tangerang, already has more than 200 factory partners throughout Java Island, serving small to large production. Wifkain's clients are not only from Java, but also from Bali and big cities in Sumatra and Kalimantan.

"Armed with experience in fashion manufacturing partners with Wifkain, we see that there are actually supply chain threads that we can support and develop, not only in the fashion industry but also in other industries. Therefore, Wifkain targets to expand cooperation development supply chain financing with Koinworks can continue in various other categories," said Sara.

Want to expand collaboration

The Indonesian fashion industry today is diverse designer and brand, each with different production needs. MaaS allows businesses to scale their production up or down as demand fluctuates, without the burden of maintaining large manufacturing facilities. This is more advantageous for smaller and emerging designers, who may not have the resources for a substantial upfront investment.

MaaS providers often take advantage of the latest technologies such as 3D printing, digital pattern making and automation. By integrating these technologies, the fashion industry in Indonesia can increase efficiency, reduce production time, and minimize errors in production.

More Coverage:

Established since 2020, Wifkain is a manufacturing service provider platform that can meet all the production needs of the fashion business more practically. To make the most of their debut, they have also received initial funding from Insignia Ventures.

"Wifkain's targets are not always about numbers, because Wifkain always opens opportunities for cooperation and collaboration, for example with logistics companies, POS systems, or other startups that have the same vision and want to move forward together," said Sara.

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