In this week’s Happened and Happening in Indonesia, two more fintech startups successfully secured license from the country’s financial service authority
Image Credit: Amartha
Amartha, Investree officialy secured P2P lending platform license
Indonesian fintech startups Amartha and Investree has officially secured peer-to-peer (P2P) lending platform license from the country’s financial services authority Otoritas Jasa Keuangan (OJK).
The two startups joined Danamas, DanaKita, and KoinWorks in the list of companies that has secured the license to host P2P lending activities on digital platform.
According to OJK, by far 28 companies have applied to have their license approved. The government agency had also extended the deadline for registration from its initial deadline of June 29.
Amartha targets unbankable societies in the country by helping them secure capital to set up small businesses such as food stalls or fish farm.
It recently raised a “seven digit” US Dollar Series A round led by Mandiri Capital Indonesia (MCI).
Following the announcement, Amartha CEO and Co-Founder Andi Taufan Garuda Putra said that the company is committed to continue on increasing the satisfaction and trust level of its customers.
As for Investree, the startup works in providing loans for small and medium enterprises (SMEs).
Investree CEO and Co-Founder Adrian Gunadi hoped that the new license will help increase stakeholders’ trust in the platform.
In order to get their license approved, fintech startups need to fulfill criteria related to its electronic systems, risk mitigation, human resource feasibility, and operational infrastructure.
Image Credit: Elevenia
Elevenia teams up with JNE to fulfill heightening Ramadan demands …
XL Axiata-backed online marketplace Elevenia announced a new partnership with Indonesian logistics company JNE to help SMEs meet up increasing demand from customers during the Islamic holy month of Ramadan.
The partnership allows SMEs that are selling their products through Elevenia to receive pick-up service to deliver purchased goods to their customers.
Elevenia claimed to have secured 50,000 sellers on-board, and that sales tend to increase two folds during Ramadan.
While Bukalapak joins forces with Tiki –which is known as JNE’s competitor
Following the recent announcement of the launch of its gold transaction feature BukaEmas, online marketplace Bukalapak inked partnership with logistics company Tiki, according to a DailySocial report.
Similar to the partnership between Elevenia and JNE, this one will also allow sellers on Bukalapak platform to have their purchased goods being picked up by Tiki agents to be delivered to customers.
Bukalapak claimed to have secured “more than” 1.7 million SMEs on board their platform.
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