Indonesia-based VENTENY announced that it raised US$5.5 million from Women’s Livelihood Bond
7, a cross-sectoral global initiative by Impact Investment Exchange (IIX) that aims to empower women and girls in building economic resilience and environmental sustainability.
As a financing platform for small- and medium-sized enterprises (SMEs), that is also behind the employee welfare platform VENTENY Empoyee Super App, VENTENY intended to use the new funding to accelerate its business in Indonesia by channeling funds to women-owned SMEs. They will specifically target low income, rural communities with limited access to financial services.
“Our collaboration with WLB7 is meant not only to support the growth of our company, but also to strengthen our commitment to financial inclusion and social impact in Indonesia. This funding is an acknowledgment for our business model which combines technological innovation with economic empowerment for both business owners and employees,” said Jun Waide, Founder and Group CEO of VENTENY, in a press statement.
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“Through the Women’s Livelihood Bond 7, IIX continues to channel private funds to support inclusive growth and gender equality in priority market such as Indonesia. We are happy to support VENTENY in widening access to financial inclusion and improve economic resilience for women and SMEs in Indonesia,” said Robert Kraybill, CIO at IIX.
VENTENY has also recently received the Orange Seal Certification from IIX as an acknowldgment of the company’s operational standard.
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Image credit: VENTENY
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