<article>Indonesian P2P firm Investree has announced the closing of a Series B investment in a round led by SBI Holdings and joined by Mandiri Capital Indonesia, Persada Capital, Endeavor Catalyst, 9F Fintech Holdings Group and previous backer Kejora Ventures.
The financial details of the round were not disclosed.</article>

Indonesian P2P firm Investree has announced the closing of a Series B investment in a round led by SBI Holdings and joined by Mandiri Capital Indonesia, Persada Capital, Endeavor Catalyst, 9F Fintech Holdings Group and previous backer Kejora Ventures.
The financial details of the round were not disclosed.
Investree connects lenders who want to invest their money to get returns to borrowers who seek funds for personal use or businesses. The company offers lending solutions for both business financing and employee loans.
Over the past year, Investree has launched sharia-compliant product under the banner of Investree Syariah and has also been selected by the Indonesian Ministry of Finance as the only P2P lending provider to be an official government distribution partner for government bonds sale.
The latest funding will be used to develop new technology and product lines, to expand user base and recruit more talent. The company said it is also planning to expand to Thailand by the end of this year.
&#8220;Our next focus is to expand geographically to other markets in Southeast Asia. In early 2018, we have officially operated in Vietnam under the name eLoan and the next target market is the country of Thailand, as wee see a huge potential of funding niches in the country and we believe Indonesia is able to play an important role in creating fintech ecosystem in Southeast Asia,&#8221; said Investree CEO and co-founder Adrian Gunadi.
Commenting on the funding, Kento Tokimori from SBI Holdings Jakarta Representative Office said: &#8220;In the midst of the development of fintech in Indonesia, we see a clear prospect for business model of transparency, and has also been registered with the Financial Services Authority. The amount of funding that has been distributed through Investree becomes one of the proof of user confidence in Investree as a leader in the growing P2P lending industry today, especially in Indonesia.&#8221;
So far, 2018 has arguably been the year of P2P lending, as a host of players in the industry have either closed or are about to close significant amount of funding from both local and foreign investors.
Indonesian peer-to-peer (P2P) lending startup Julo raised $5 million in a Series A funding round led by Skystar Capital and East Ventures in May.
Previously, fellow P2P fintech company, Modalku (Funding Societies), managed to close a Series B funding round last month, securing $25 million from a round led by SoftBank Ventures Korea, in what could perhaps be the largest financing round for a P2P lender in Southeast Asia.
A number of P2P lenders are on course to raise Series B funding, including Amartha and UangTeman.
Indonesia currently has 64 registered P2P lending platforms in the country.
Indonesia’s Financial Services Authority (OJK) recently identified as many as 227 peer-to-peer (P2P) lending platforms operating in the country without a licence. These P2P lending platforms are being operated by 155 unlicensed fintech companies, more than half of which are from China.
According to the OJK, the influx of Chinese-origin P2P platforms into Indonesia is likely prompted by Chinese government’s tightening measures on curbing illegal financial technology (fintech).
With 80 per cent of the population without a bank account and 203 million earning less than $4.50 a day, the Indonesian market is an attractive proposition for financial technology ventures, as well as investors.
Last week, Indonesia witnessed what is claimed to be the biggest Series B raise by a fintech lending startup in SouthEast Asia when digital lending startup Kredivo secured a $30 million funding in a round led by Australia’s Square Peg Capital.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/indonesia-investree-gunadi-93059/">Indonesia’s P2P startup Investree to raise Series B round, eyes collaboration with banks</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapore-antworks-sbi-investment-103612/">Singapore’s Antworks raises $15m Series A from SBI Investment</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/indonesia-identifies-227-illegal-p2p-lending-startups-mostly-from-china-103546/">Indonesia identifies 227 illegal P2P lending startups, mostly from China</a>

Indonesian P2P lender Investree raises Series B round led by SBI Holdings

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