Indonesia’s P2P lender Amartha bags $50m facility from Lendable to back women micro-entrepreneurs

Amartha founder and CEO Andi Taufan Garuda Putra with Amartha’s borrowers at Ciseeng Village, West Java, Indonesia.

Indonesian P2P lending firm Amartha has secured $50 million from the US-based lending platform Lendable to improve access to finance for women micro-entrepreneurs in the country.

Lendable is a debt provider to fintech companies across the frontier and emerging markets.

The $50-million facility is targeted to enable rural women micro-entrepreneurs to develop or start businesses and encourage post-pandemic economic recovery, according to a statement.

Amartha becomes the first company in Indonesia to receive funds under the 2X Challenge initiative,  a programme focused on advancing gender equality and women’s economic empowerment.

Amartha founder and CEO Andi Taufan Garuda Putra said women are the drivers of the micro economy.

“Economically, Amartha has helped empower women since 2010, we are grateful for the trust given by Lendable to realise the 2X Challenge in Indonesia so that women can increase their role in the Indonesian economy, especially in the context of post-pandemic recovery,” he said.

Amartha estimates the segment of women micro-entrepreneurs who lack access to banking and financial institutions in Indonesia at over 22 million.

To date, Amartha has distributed funding of Rp3.16 trillion to 610,752 women micro-entrepreneurs in Java, Sumatra and Sulawesi. Established in 2010, Amartha provides access to women micro-entrepreneurs in rural areas who need working capital and connect them with lenders interested in making investments through its website.

“Amartha’s objectives very much align with Lendable’s commitment as a 2X eligible firm and our aim of supporting the unbanked and underbanked segments of society by providing debt to fintech that deliver crucial services,” Lendable chief investment officer Hani Ibrahim said.

Founded in 2015, Lendable provides commercial financing to fintech companies across Africa, Asia and Latin America including off-grid energy companies, MSME lenders, consumer lenders, and asset finance companies. Lendable has deployed over $100 million to fintech players that are enabling financial inclusion.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.