What is KoinWorks?
Founded in 2016, KoinWorks operates as a peer-to-peer lending platform specializing in business and education loans. The company distinguishes itself by offering financial aid at competitive, low-interest rates, thereby supporting educational pursuits and business ventures in Indonesia. KoinWorks' strategic focus on providing accessible financial solutions positions it as a key player in the Indonesian fintech landscape, aiming to bridge funding gaps for individuals and enterprises.
How much funding has KoinWorks raised?
KoinWorks has raised a total of $48.7M across 3 funding rounds:
Series A
$16.5M
Series B
$12.2M
Other Financing Round
$20M
Series A (2018): $16.5M with participation from Mandiri Capital Indonesia, Gunung Sewu, and Convergence Ventures
Series B (2019): $12.2M led by Quona Capital and EV Growth
Other Financing Round (2020): $20M supported by Saison Capital, Triodos Bank, EV Growth, and Quona Capital
Key Investors in KoinWorks
Mandiri Capital Indonesia
Mandiri Capital Indonesia is a corporate venture capital firm that supports business growth through funding, mentoring, and access to the Mandiri Group's network, catering to startups from early stages to later developments. The company focuses on value creation and offers a startup accelerator program to enhance the entrepreneurial ecosystem.
Gunung Sewu
Gunung Sewu Group is a diversified company operating in various sectors including food, insurance, property, and manufacturing. The company aims to meet the growing demands of consumers in emerging economies, particularly in Indonesia, where the middle class is expanding.
Quona Capital
Quona Capital is a venture firm focused on fintech for inclusion in emerging markets. Quona partners have deep experience as investors and operators in both emerging and developed markets, and look for entrepreneurs whose companies have the potential to provide outstanding financial returns and promote breakthrough innovation in financial inclusion.
What's next for KoinWorks?
The substantial enterprise-level funding KoinWorks has attracted indicates a strategic phase of scaling and market penetration. This capital infusion is likely to fuel further product development, enhance technological infrastructure, and expand its customer base across Indonesia. The company's trajectory suggests a move towards solidifying its market leadership and potentially exploring new financial service verticals, leveraging its established P2P lending foundation to drive innovation and financial inclusion.
See full KoinWorks company page
