Indonesian-based fintech initiative KoinWorks has announced that it has received a new investment of 20 million dollars despite this difficult period in the world. In this new investment tour, the current existing entrepreneurs of the company included Quona Capital, EV Growth and Saison Capital. Another news is the fact that the initiative has received international support to give new loans. With support from the Netherlands through Triodos Bank, KoinWorks will provide loans through its own platform. We are all aware that some fintech attempts have also been difficult due to the corona virus pandemic. KoinWorks, one of the P2P loan initiatives operating in Indonesia, stands out here as a fintech initiative that works especially with small and medium-sized companies. In other words, SMEs that the fintech initiative lends are the businesses affected by this epidemic and an area with a risk in itself. Because KoinWorks is a venture that lends these businesses and this debt-making investment seems to be a good way for KoinWorks not to be affected by the crisis. Willy Arifin, co-founder and president of KoinWorks, also announced that they will continue to support small and medium-sized digital companies during the Covid-19 outbreak, and will continue to respond to financial needs and provide loans in this area. Established in 2016, KoinWorks connects SMEs with investors and works as a P2P borrowing platform. In September 2019, the founding partner and CEO of the company, Benedicto Haryono, stated that they were very close to the point of going to profitability, and the company again received a $ 12.2 million Series B investment in 2019. We think that the investment that came in this difficult period may have come because KoinWorks was not targeted and continued to grow despite such a period. Although it is in a local language just below, you can access a video that explains KoinWorks’ working principle and explains how it lends money.
