Heaptalk, Jakarta — Co-Founder of Modalku, Iwan Kurniawan, announced to take a career break to explore his passion in the Human Resources field. After stepping down as of June last year, he still served as an Advisor / Board Member of Modalku Group to provide business strategy to the company until October 2023.
“After nearly eight years starting and leading Modalku in 2015 – 2023, I decided to take a career break to explore my passions. Since last year, I have pursued my long-time interest in learning and people development, starting with a Master of Education at Harvard. I began investing time to comprehend what makes human learning truly effective.” said Iwan in his LinkedIn post.
Management said that this transition process had lasted smoothly and gradually. The role previously carried out by Iwan will be replaced by Arthur Adisusanto as Country Head of Modalku Indonesia, who will focus on encouraging Modalku’s business initiatives in the Indonesian market. Through new management adjustments that have been carefully considered, the company affirmed this step will not negatively impact the sustainability of Modalku’s business.
Since Modalku’s establishment in 2016, Iwan has contributed to the company’s business expansion in Indonesia and Thailand. During his tenure, Iwan significantly boosted the Modalku Group enhancement by facilitating US$3 billion in financing and supporting around 90,000 SMEs across Southeast Asia.
In November 2023, Modalku obtained a debt fund facility worth US$7.5 million (around Rp117 billion from Northfund – a Development Financial Institution (DFI) to expand its funding access for Southeast Asian MSMEs. Modalku’s total loans in the archipelago have attained US$3.56 billion as of January 2024. While in Malaysia, this fintech company claimed to increase a crowdfunded financing, which stood at US4.5 billion early this year.
Besides unleashing his strategic tenure at Modalku, Iwan has quit as a board member at the Indonesian Fintech Association (AFI) since December 2023. However, he still serves as a fellow at the venture capital company Owl Ventures.
