Short-term loans cover SMEs’ cash flow between payments, and when customers don't pay on time.
Over 60% of Indonesians don’t have bank accounts; while many SMEs don’t have collateral.
Indonesia’s fast-growing middle class seek investment alternatives to the stock market.
Huge unmet demand from SMEs lacking collateral to borrow from official channels and from unbanked consumers.
Investree administers the streamline lending and borrowing process by verifying the credit risks of the potential borrowers and lenders through background checks and manual verification before listing them on its platform.
It also helps both parties with the preparation of loan agreements, transfer of funds and other related financial transactions during the loan period.
As a leaner outfit, it is also able to process loans much more quickly than banks – by three days versus 21 days at traditional lenders.
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October 2015, soft launch of P2P online lending marketplace Investree.
May 2016, official launch of Investree with a six-person team.
August 2016, partnership with Bank Danamon: the bank to handle the cash management, or automatic payments and postings (host-to-host service), for loans processed on Investree.
2016, processed IDR 65 billion worth of loans.
June 2016, secured undisclosed amount of Series A funding from Kejora Ventures.
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January, sales partnership with Bank Woori Saudara (BWS).
March, opened office in Semarang.
April, partnered with Zurich Topas Life to provide Entrepreneur Digital Credit Protection services to help entrepreneurs and professionals minimize credit risk.
May, partnered with Indonesia Advertising Company Association P3I to support Indonesia’s creative industry and SMEs with advertising resources and sponsorships.
April, Anupama Hoon joined as Head of Product & Innovation from Indian fintech Capital Float.
May, secured P2P lending license from OJK after increasing its capital to IDR 2.5 billion.
Has processed about US$20 million in loans to about 700 SMEs to date, with an average loan size of US$20,000–25,000.
About 97% of its loan requests come from SMEs.
About 10,000 registered lenders on the platform from across Indonesia, 50% of whom are aged below 30 years old.
No defaults to date.
Team of 43.
Launch Shariah-compliant contracts (incorporating fee or profit-sharing in place of interest) in August 2017.
Expand to Vietnam in 2018 under a JV with a local financial institution.
Expects to facilitate loans totaling IDR 400 billion in Indonesia in 2017.
Diversify products, e.g., launch working capital loans for e-commerce firms; focusing on employee loan financing.
Open offices in major Indonesian cities in 2017.
Approach institutional investors.
Further educate consumers about P2P lending platforms.