Indonesia micro-lending platform UangTeman secures pre-series A funding

Indonesia-based micro-lending site UangTeman – launched in April 2015 as part of leading fintech lending company PT Digital Alpha Group – has raised a pre-series A round of investment.

The firm did not disclose the quantum of funding or details on the investors.

The company only said that the round was led by an unnamed “major Southeast Asia banking group,” with participation from two other Indonesian institutional investment firms. It has also raised $735,000 in debt.

UangTeman provides short-term microloans to consumer and micro-businesses. It provides algorithmic-driven financing online, anywhere and anytime as an alternative to the model of the conventional lending banks or other finance companies.

Last month, UangTeman appointed Darmawan Zainin as its Chief Technology and Product Officer (CTPO), as it looks to scale its big data infrastructure and mobile unsecured lending capabilities in Indonesia.

Darmawan will be responsible for leading mobile lending research & development (R&D) and building an engineering and product team that is focused on optimising the digital lending experience for the consumer.

UangTeman has handed out more than $1.9 million in loans so far. In its seed stage, the company was backed by a crew of investors including Jakarta-based venture capital firm Alpha JWC, and a co-founder of Wonga, a British payday loan company similar to UangTeman.

Going forward, the firm is now looking to leverage further the data collected on its applicant and customer base, in order to optimise its micro-lending experience and to underwrite loans to segments of Indonesia which the banks and financial institutions traditionally do. The company is also adopting innovation for seamless loan applications and disbursement through mobile.

Also Read:

Indonesia: Jojonomic raises $1.5m from Maloekoe Ventures, others

‘Indonesia’s Fintech investment to reach $8b in 2 years’

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

Fintech here to complement banks not compete, Indonesia startups say

Singapore Reporter/s

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

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  • 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. 
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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.