The report also discloses the disbursement of the working capital financing products of Modalku has reached 86%, exceeding the targeted amount.
Heaptalk, Jakarta — Indonesia‘s financial technology startup, Modalku Finance, has recorded a positive performance by disbursing financing services up to 98% in 2022. The company has also retained the Non-Performing Financing (NPF) ratio at a 0%.
In terms of investment financing, the company has exceeded the targeted financing distribution, with an outstanding result of 104%. The report discloses Modalku‘s investment financing product dominates the financing disbursement composition with more than 71% compared to working capital financing products. Meanwhile, the disbursement of Modalku’s working capital financing products has reached 86% of the target.
President Director of Modalku Finance, Steven Gunawan, claimed the high mobility of society boosts this outstanding accomplishment during the post-pandemic and support from Modalku’s debtors. He added, “Our positive achievement will become a robust foundation for Modalku Finance’s business growth, particularly in facing numerous business obstacles amidst the current economic turbulence,”
To continue strengthening its operation, Steven affirmed his party would conduct the business strategy and decision-making adequately while concerning the company’s soundness and retaining the prudence principle.
Since its inception, this fintech company has granted financing access to diverse industries in the archipelago, including information and communication, retail, financial and insurance, and automotive maintenance.
As the parent company of Modalku Finance, Modalku Group has poured business capital of over US$3.2 billion, or equal Rp47.7 trillion, into more than 5.1 million financing transactions devoted to MSMEs in Indonesia, Singapore, Thailand, and Vietnam.
In the Indonesian market, this fintech company channeled financing access to US$456 million (Rp6.69 trillion) since its establishment in 2016. As a result, around 72,691 people have experienced the financing services that Modalku offers.
“We will continue to examine opportunities for disbursing financing in various potential sectors by considering the risk appetite factor. This year, we expect to increase our credit service to be more significant than the previous year,” Steven admitted.
For this reason, the company will continue to strive for Good Corporate Governance to foster the trust of debtors, business partners, shareholders, and other stakeholders. Apart from uplifting its credit service record, Modalku Finance intends to perform its business innovation and advance the technology to expand the network.
