Indonesian fintech lending platform Investree has secured EUR 220 million (US$231 million) in a Series D funding round led by JTA International Holding by establishing a joint venture (JV) with the Qatar-based firm.
The company’s Series B and C investor, SBI Holding, also participated in the round.
The JV, called JTA Investree Doha Consultancy, will serve as the Middle East hub for the lender to offer digital lending technology solutions, one of which is an AI-based credit scoring service.
The partnership will also allow both firms to bring innovative technology built in Indonesia to empower MSMEs in Qatar, the Middle East, and Central Asia.
Also Read: Investree completes acquisition of Amar Bank, increases stake to 18.4 per cent
Investree will use the new capital to expand its products and services and increase collaboration with various partners to provide more innovative digital solutions for MSME players.
The company last raised US$23.5 million in a Series C funding round in March 2020, led by MUFG Innovation Partners and BRI Ventures. Previously, the company received US$10 million in funding from the Swiss asset manager responsAbility Investments.
Founded in 2015 in Jakarta, Investree provides digital financial solutions to largely underbanked MSMEs who previously faced difficulties securing loans without collateral from traditional financial institutions. It provides four products: invoice financing, working capital term loan, buyer financing, and microproductive loan for ultra-micro entrepreneurs.
As of October 2023, Investree Indonesia claims to have recorded a total loan disbursement of US$916.30 million in productive loans.
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