Indonesian P2P lender KoinWorks raises $16.5m Series A led by Mandiri Capital

A mother displaying the KoinWorks app on her phone. Photo: KoinWorks' social media page

KoinWorks, an Indonesian peer-to-peer lending platform, has raised an S$22.5 million ($16.5 million) Series A led by Mandiri Capital Indonesia, the venture capital arm of Bank Mandiri, according to an announcement.

Indonesian conglomerate Gunung Sewu and Convergence Ventures also participated in the round.

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