Pintek, a fintech platform that provides credit to students and their families, educational institutions and their suppliers, raised a US$21 million debt facility from Accial Capital, a US-based impact-focused private debt investor.
With this debt facility, both Pintek and Accial hope to further accelerate the penetration of educational financing and contribute to a more accessible, inclusive educational ecosystem in Indonesia.
This comes fresh off Pintek’s fundraising round led by Finch Capital last month.
Started in 2018, Pintek, owned and operated by SoCap, aims to improve the access to investments in education in the archipelago by providing financial access to all communities and educational institutions and their suppliers.
Also Read: Pintek secures investment to help students, education institutions access loans in Indonesia
As of December, it claims to have partnered with more than 190 institutions in the K-12, vocational, higher education and non-formal segments, and has distributed credit to customers across more than 26 provinces in the country.
Pintek Co-founder Ioann Fainsilber said: “Being in a situation full of challenges, education institutions need to implement technologies to support the adoption of distance learning for their students. However, in part due to a lack of financial resources, the implementation of technology across the sector has been challenging. We build products to help this crucial juncture for the Indonesian education ecosystem.”
Tommy Yuwono, Co-founder and President Director, Pintek, added: “This is an opportunity for us to fully support the Ministry of Education and Culture’s key programme regarding the adoption of school digitisation as an effort to prepare human resources to face the industry 4.0 era. This allows us to provide smart financing solutions for educational institutions to maximise technology in teaching and learning activities, as well as achieving education 4.0.”
Also Read: Investree receives US$15M from Accial Capital to provide loans to Indonesian SMEs
Accial is an impact-focused, tech-enabled investor in small business and consumer loan portfolios in Latin America and Southeast Asia. Accial Capital combines data, technology, capital, and credit expertise to contribute to a world of widespread credit access and financial health.
Last November, Accial injected US$15 million into Indonesia’s fintech lending platform Investree.
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Image Credit: Pintek
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