Indonesia’s fintech Pintek bags $21m debt facility from Accial Capital

By Cindy Silviana

January 11, 2021

Indonesian fintech platform Pintek has raised a $21 million debt facility from US-based impact-focused private debt investor Accial Capital.

Founded in 2018 by Ioann Fainsilber and Tommy Yuwono, Pintek (owned and operated by SoCap) provides loans for students and their families, besides educational institutes, and suppliers.

With the debt facility, both Pintek and Accial Capital look to strengthen education financing in Indonesia.

The startup not only provides loans, but it also offers financial business solutions to educational institutions and their suppliers, supporting their investments in infrastructure and technological tools.

Lack of finances is one of the issues that education institutes are staring at as they grapple to upgrade technology, said SoCap CEO & Pintek co-founder Fainsilber.

“In part due to a lack of financial resources, the implementation of technology across the sector has been challenging. We build products to help at this crucial juncture in the Indonesian education ecosystem,” said Fainsilber in a statement.

Meanwhile, Yuwono, who serves as the co-founder and president director at the startup added that debt will help it provide smart financing solutions to educational institutions to maximize technology in teaching and learning activities, as well as achieving education 4.0.

In December 2020, Pintek raised a round of capital led by Finch Capital, with the participation of existing investor Accion Venture Lab, bringing the total amount of equity raised to S$5 million. As of 31 Dec 2020, the company disbursed around Rp 83 billion ($ 5.89 million).

Accial Capital pintek

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Singapore Reporter/s

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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.
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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.