Heaptalk, Jakarta – Bukalapak demonstrated its aggressiveness in expanding and strengthening its business. After several days ago, the Corporate delivered an announcement of securing undisclosed funding from BRI Ventures and Mandiri Capital, once more, the Company hit the news by its collaboration with Modal Rakyat, a fintech company that provides peer to peer lending.
The collaboration, officially released on Monday (04/19/2021), will allow MSMEs to access financing. The deal, further, offers invoice financing or purchasing order financing to MSMEs that has joined with BukaPengadaan, Bukalapak business line created to capture procurement needs for a company or MSMEs.
The scheme of invoice financing offered is varied as it consists of three programs, namely Business Capital, Multipurpose Capital, and Micro Capital. This facility enables MSMEs to obtain credit up to Rp2 billion or US$138 thousand (according to current exchange rates Rp14.481) per loan with a tenor of 2-3 months.
Stanislaus MC Tandelilin, Co-Founder and the Director of Modal Rakyat, stated that the partnership with Bukalapak targets to deliver financing approximately Rp50 billion or US$3.45 million to MSMEs.
“We see the tremendous potential of B2G and B2B (in Bukalapak ecosystem), especially in the procurement sector, the forecast said the business filed would significantly increase. By building a synergy with BukaPengadaan, as an example, selected MSMEs that run projects related to the state budget will earn privilege financial access from Modal Rakyat. This act is expected can be a catalyst for MSMEs to accelerate their business development,” said Stanis.
As a respond to Modal Rakyat, Hita Supranjaya, the Director of BukaPengadaan stated that the Company believes that this collaboration will open another option for MSMEs receiving capital to expand their business.
“Bukalapak’s collaboration with Modal Rakyat delivers another financing option for MSMEs that are BukaPengadaan’s partner, therefore, the cooperation is a positive measure for the Company, while supporting the MSMEs’ growth across Indonesia to develop their business,” voiced Hita.
In accessing Modal Rakyat’s loan in BukaPengadaan, MSMEs can register their entity online. The main requirements in the submission process are the current year’s financial statement, a monthly report of purchase and sales, account mutation in the last six months that reflects the Company’s turnover, list of leasing and bank’s obligation, as well as a list of suppliers and customers for validation.
About Modal Rakyat
Modal Rakyat is a technology-based loan service provider that was established in 2018. Since the Company formed, it has delivered digital services and facilitating peer-to-peer lending to more than 25,000 MSMEs in 34 provinces around the nation with a total capital of Rp1.2 million or US$82 thousand. Information Technology segment dominated this financing with the total funding of 46.78%, followed by the e-commerce sector that attained 27.52%.
