Fintech lending platform Investree announced today that it has received a commitment of US$15 million from US-based Accial Capital to provide loans to small and medium enterprises (SMEs) in Indonesia.
Accial is an impact-focused, tech-enabled investor in small business loan portfolios in emerging markets. The two firms have been working closely with each other since 2017 and have been funding a sub-segment of Investree’s SME loan portfolio.
The new credit facility will provide financing to more Indonesian SMEs through Investree’s diversified loan portfolio, including invoice financing, buyer financing, working capital term loan, and online seller financing.
Established in 2015, Investree offers conventional and sharia loan products to support the growth of Indonesia’s SMEs. It has since expanded into Thailand and the Philippines.
The fintech startup claims that as of September, it has transacted IDR 7 trillion (US$493,000) in loans to over 1,400 borrowers on its platform.
South Africa Today
Read more at VolaNews
