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.
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