Indonesia P2P lending platform Modalku raises $1.2m from Alpha JWC, others

Kelvin Teo and Reynold Wijaya, Founders of Modalku - Photo by Funding Societies

Peer-to-peer lending and funding platforms Modalku, a member of PT Mitrausaha Indonesia Group, has raised $1.2 million from Alpha JWC Ventures and a number of undisclosed foreign venture capital investors. The company has also secured a partnership with PT Bank Sinarmas, which has now become the escrow agent of the P2P lending platform.

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