Indonesian fintech firm KoinWorks slashed losses, nearly tripled income in 2021

Indonesian fintech firm KoinWorks slashed losses, nearly tripled income in 2021

KoinWorks co-founders Benedicto Haryono (right) and Willy Arifin

Jakarta-based fintech firm KoinWorks reported a 43% drop in net loss for the financial year ended Dec 31, 2021, as its income nearly tripled, according to regulatory filings by its Singapore-registered parent company.

The company’s net loss dropped to $3.65 million in 2021 from $6.4 million a year earlier, while its income jumped to $8.71 million from $3.24 million during the same period, show Lunaria Annua Holding Pte Ltd’s filings with the Accounting and Corporate Regulatory Authority (ACRA).

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