PT Investree Radhika Jaya, known as Investree officially announced the closing of the Series B funding in the second half of 2018. Kejora Ventures as the previous backer once again joined the round led by SBI Holdings which joined by other prominent institutional investors such as Persada Capital, Endeavor Catalyst, 9F Fintech Holdings Group and Mandiri Capital Indonesia.
Entering its third year, Investree launched Sharia Investree, a pioneer of sharia-based finance products in the peer-to- peer (P2P) lending space . Its Online Seller Financing Sharia is designed to use Sharia-based structure to finance the merchants operating in marketplace platforms. Sharia Investree has also been selected by the Indonesian Ministry of Finance as the only P2P platform to be the official distribution partner for government bonds sale.
This proceeds of Series B round will be used to develop new technology and product lines, to expand user base and recruit more talent.
The company said it is also planning to expand to Thailand by the end of this year.
“Our next focus is to expand geographically to other markets in Southeast Asia. In early 2018, we have officially operated in Vietnam under the name eLoan (https://www.eloan.vn/) and the next target market is tThailand, as we see a huge potential of funding niches in the country as it has similar demographic character as Indonesia. In addition, we will also attract more Institutional Lenders in order to scale up the loan assets and broaden the structured products incoping with the more complex financing requurements, ” said Investree CEO and co-founder Adrian Gunadi.
Commenting on the funding, “Kejora Ventures as an early investor , is satisfied with its development and expansion plan in South East Asia. Besides supporting Indonesia financial inclusion, Investree has paved the way for small businesses to secure financing utilizing its digital platform which is complimentary to the conventional loan markets. We are proud to have been part of the intermediary roles together with the banks,” Eri Reksoprodjo, Managing Partner from Kejora Ventures said.
With the successful closing of Series B round , Investree is committed to promote the spirit of nationalism through the #SemuaBisaTumbuh tagline, for Indonesia as an ASEAN country spearheading the regional growth of financial technology industry.