Royal Park Partners advises Koinworks on its $108 Million funding round



Overview of the transaction


KoinWorks, the leading fintech platform in Indonesia, has raised $108 million in a mix of equity and debt. The round was led by MDI Ventures, the corporate venture arm of Telkom Indonesia with participation from existing shareholders, including QuonaCapital, TriodosBank, Saison Capital, ACV and East Ventures. The fundraise will enable KoinWorks to invest in product development as well as grow its team to 400+ new employees to meet fast-growing demand for financial services from the 62 million Indonesian SMEs, which remain massively underserved and underbanked.

 

Overview of KoinWorks

  • Founded in 2016 by Benedicto Haryono (CEO) and Willy Arifin (Executive Chairman) and headquartered in Jakarta, Indonesia, KoinWorks started as a credit platform before evolving into an SME-focused Financial Super App.

  • KoinWorks is now the first SME Financial Super App in Indonesia with over 1.2 million users, serving as a one-stop-shop for SMEs looking to scale their business using a wide range of digital financial products.

  • Product offerings include loans, bank accounts and cards, P2P payments, financial management tools, digital treasury management and more.

  • Since April 2021, KoinWorks’ latest digital financial solutions have drawn more than 100,000 SMEs into its waitlist.


 

Royal Park Partners' role

  • Royal Park Partners acted as exclusive financial and strategic advisor to KoinWorks and its shareholders.

  • This transaction highlights Royal Park Partners’ extensive experience in the SME challenger banking space, and in supporting high-growth emerging markets Fintech businesses.


 


Disclaimer


The information contained in this document and any communication or documents or other materials distributed at or in connection with the document (together, the "Presentation") is confidential and is being made to or directed to in the United Kingdom only to (i) persons who have professional experience in matters relating to investments (being "investment professionals" within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO")) or (ii) persons falling within Article 49(2) ("high net worth companies, unincorporated associations etc") of the FPO or (iii) persons who are otherwise permitted by law to receive it (all such persons being "Relevant Persons"). This presentation may not be disseminated, distributed or used without the prior written consent of Royal Park Partners and Sapia Partners LLP (the “Companies”). The information contained in the Presentation is not intended to be viewed by, passed on or distributed (directly or indirectly) to, any other category of persons. Any investment or investment activity to which the Presentation relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This Presentation must not be acted or relied upon by persons who are not Relevant Persons. Royal Park Partners is an Appointed Representative of Sapia Partners LLP, which is authorised and regulated by the Financial Conduct Authority.​

No undertaking, representation, warranty or other assurance is given, and none should be implied, as to, and no reliance should be placed on, the accuracy, completeness or fairness of the information or opinions contained in the Presentation. The information contained in the Presentation is subject to completion, alteration and verification nor should it be assumed that the information in the Presentation will be updated. The information contained in the Presentation has not been verified by Sapia Partners LLP (“Sapia”) or any of its associates or affiliates. Opinions and estimates constitute the Companies’ judgment and should be regarded as indicative, preliminary, strictly non-binding and for illustrative purposes only. All example statements and any indicative terms and features of any solution given are strictly indicative and may be based on certain implicit and explicit assumptions which the Companies may or may not be able to disclose at the time of the Presentation and which will need verification in any specific case. ​

In particular, but without prejudice to the generality of the foregoing, any forecasts, opinions, estimates and projections contained in the Presentation constitute the judgement of the Companies and are provided for illustrative purposes only. Such forecasts, opinions, estimates and projections involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forecasts, opinions, estimates and projections. Accordingly, no representation or warranty (express or implied) is or will be made or given in relation to, and (except in the case of wilful fraud) no responsibility or liability is or will be accepted by the Companies or any of its directors, officers, employees, agents or advisers in respect of, such forecasts, opinions, estimates and projections or their achievement or reasonableness. Relevant Persons of the Presentation must determine for themselves the reliance (if any) that they should place on such forecasts, opinions, estimates and projections. Further, no representation as to the actual value which may be received in connection with a transaction is given, nor the legal, tax or accounting effects of consummating a transaction.​

Information contained in the Presentation may not be distributed, published or reproduced in whole or in part or disclosed by Relevant Persons to any other person. The distribution of any document provided at or in connection with the Presentation in jurisdictions other than the United Kingdom may be restricted by law and therefore persons into whose possession any such documents may come should inform themselves about and observe any such restrictions. In particular, information contained within the Presentation is not for distribution in or into the United States, Canada, Australia, the Republic of Ireland, Japan or South Africa. Any failure to comply with these restrictions may constitute a violation of the securities law of such jurisdictions.​

The information contained in the Presentation has not been approved by the Financial Conduct Authority. This Presentation does not constitute, or form part of, any offer of, or invitation to apply for, securities nor shall it, or the fact of its distribution, form the basis of or be relied upon in connection with any contract or commitment to acquire any securities. The information contained in the Presentation has been prepared to assist Relevant Persons in making their own evaluations and does not purport to contain all of the information that recipients of the Presentation who are considering acquiring or subscribing for shares, bonds or other securities may need or desire.