Ramdhan Anggakaradibrata, Chief Financial Officer of Amartha
Indonesian microfinance fintech firm Amartha secured a US$17.5 million equity investment from global nonprofit Accion via its Accion Digital Transformation Fund.
The fresh funds aim to help Amartha build a platform using data and AI to provide financial products and services to underserved women-led small businesses in rural Indonesia. They will also enhance Amartha’s MSMEs sector offerings, strengthen audience analytics, and drive digital service adoption to connect more people and businesses to responsible financial services.
In addition to providing investment capital, the Accion Digital Transformation Fund will offer strategic support to enhance customer engagement, operational efficiency, and product innovation through digital technologies.
Established as a microfinance institution in 2010, Amartha became a technology company in 2016. By incorporating an embedded lending and funding model for institutional and retail investors, Amartha streamlines personalised financial solutions.
Amartha offers payment services, a proprietary credit scoring system, and a cross-border funding platform that provides grassroots businesses access to capital, presenting them as profitable and impactful alternatives for institutional investors.
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To date, Amartha claims to have disbursed over IDR25 trillion (US$1.6 billion) in working capital to more than 2.5 million women-led businesses in rural and peri-urban areas of Java, Sumatra, Nusa Tenggara, Sulawesi, and Kalimantan.
Ramdhan Anggakaradibrata, Chief Financial Officer of Amartha said, “Amartha and Accion have shared objectives — reducing inequality in access to financial services. We will not only meet the current needs of our customers but also anticipate future trends and challenges. This approach will help us remain at the forefront of fintech innovation, continually evolving to provide cutting-edge financial solutions that empower our customers and drive sustainable growth.”
Managed by Accion Impact Management, the Accion Digital Transformation Fund leverages Accion’s global experience in supporting banks and finance companies to connect millions of people and small businesses to the digital economy. Investments from the US$152.5 million fund focus on MSME-serving companies across South and Southeast Asia, Latin America, and Africa, providing growth capital and strategic digital transformation support.
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Image credit: Amartha
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