What is KoinWorks?
Founded in 2016, KoinWorks operates as a peer-to-peer lending platform specializing in business loans and education loans. The company distinguishes itself by offering financial aid at competitive, low-interest rates, thereby supporting individuals and businesses in pursuing educational degrees and operational growth. Based in Indonesia, KoinWorks plays a crucial role in the nation's financial ecosystem by providing accessible financial solutions.
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, Convergence Ventures, and Gunung Sewu
Series B (2019): $12.2M led by EV Growth and Quona Capital
Other Financing Round (2020): $20M supported by Quona Capital, Triodos Bank, EV Growth, and Saison Capital
Key Investors in KoinWorks
Mandiri Capital Indonesia
Mandiri Capital Indonesia is a corporate venture capital firm supporting business growth through funding and mentoring, with a focus on Indonesian startups across various sectors including finance and technology.
Convergence Ventures
Convergence Ventures is a venture capital firm that operates within the Venture Capital & Private Equity industry, likely focusing on technology and early-stage companies.
Gunung Sewu
Gunung Sewu Group is a diversified Indonesian conglomerate with interests in food, insurance, property, and manufacturing, aiming to meet growing consumer demands in emerging economies.
What's next for KoinWorks?
The recent strategic investment signals a new phase of expansion and development for KoinWorks. With a history of securing substantial capital through rounds like Series A and Series B, the company is well-positioned to enhance its platform offerings, broaden its market reach within Indonesia and potentially beyond, and further innovate its fintech solutions. This latest financing is expected to fuel strategic initiatives aimed at solidifying its market leadership and driving financial inclusion.
See full KoinWorks company page
