Finfra, an Indonesian financial infrastructure provider, helps businesses in e-commerce, agriculture and logistics integrate lending services into their platforms. That includes onboarding customers, assessing borrower creditworthiness, processing loan applications and complying with regulations.
The company’s early stage round was led by Cento Ventures, a Singapore-based VC firm, along with Accion Venture Lab, Z Venture Capital and other investors. Matiss Ansviesulis, founder of the Mexican fintech company AvaFin, also joined the round. “Across all the markets we invest in, we consistently see small businesses and consumers on digital platforms have an unmet need for credit,” said Accion’s Rahil Rangwala.
Finfra enables such platforms to offer more accessible credit solutions, he added. “With lower servicing costs and stronger governance, lenders can design new products to profitably and responsibly serve customers who are currently excluded from the financial system.”
Embedded lending
To bolster small business lending in Indonesia, Finfra is partnering with Tyme Group, a digital bank that also has operations in the Philippines and South Africa. The partnership will help scale its embedded loan products, like merchant cash advances. Finfra’s latest funding round follows a $1 million raise from DSX Ventures and other investors last year.
