UK-based consumer credit reporting agency Experian has opened an office in Jakarta to expand its operations in the region. Meanwhile, Jakarta-based P2P lending firm Amartha has secured an undisclosed funding round led by LINE Ventures.
Experian opens office in Indonesia
UK-based consumer credit reporting agency Experian has officially forayed into the Indonesian market and has established a permanent office in central Jakarta, according to an announcement.
Experian said that it has been seeing strong growth in the archipelago since 2014 when it had first incorporated its local operations in the country.
Experian is already betting big on the Southeast Asian market and is investing in companies here. While it has backed ride-hailing unicorn Grab in Southeast Asia, in Indonesia it has pumped in capital as a lead investor in C88, the parent company of CekAja.com, in its Series C round.
Experian Indonesia offers a range of products across functions such as decisioning, advanced analytics and data quality. It also has recently stepped up its identity & fraud solution in the market with its CrossCore platform.
LINE Ventures, others, back Amartha’s Series B round
Indonesian peer-to-peer lending company Amartha Mikro Fintek, known as Amartha, has raised an undisclosed Series B funding round led by LINE Ventures, the VC arm of global messaging app LINE.
The round also saw the participation of Bamboo Capital Partners, UOB Venture Management, PT Teladan Utama, and PT Medco Intidinamika.
The capital raised will be used by the company to expand its business throughout Indonesia to empower more women and support more families in rural areas, it said in a statement.
Amartha has secured a license from the Indonesian Financial Services Authority (OJK), to disburse loan solely to women entrepreneurs in rural areas. Besides providing loan, it also connects them with lenders who live in big cities with the aim of making an impact on society.
The fintech firm has facilitated over Rp 1.6 trillion ($113 million) of productive loans. It has served over 340,000 micro-entrepreneurial women across 5,200 villages in Java and Sulawesi. The fintech firm has been maintaining a non-performing loan (NPL) under 1 per cent.