Manage to stabilize its business growth in Q1 2023, Finfra startup targets to increase business volume up to 70% – 80% by the end of this year.
Heaptalk, Jakarta — Indonesia’s technology infrastructure provider for online businesses, Finfra, has completed its seed funding round at USD1 million, approximately Rp14.8 billion. This new injection comes from several strategic investors, spanning DS/X ventures, Seedstarts International Ventures, Cento Ventures, Fintech Nation, FirstPick, BADideas Fund, and Hustle Fund.
The startup will use the capital to advance the tech infrastructure product and elevate Finfra’s teams in multiple divisions, including engineering, data, and finance.
Cited in Techcrunch, the Co-Founder and CEO of Finfra, Markus Prommik, delivered that, as an agnostic-sector startup, the company focuses on digital supply chain platforms, agritech, and e-commerce applications for merchants. The startup which was developed from the consumer financing service Danabijak grants the loans management system to offer a credit service to clients through its platform.
According to Markus, Finfra offers a peculiar way that allows businesses to augment invoice financing or purchase financing solutions. For this goal, the tech company adopts business-to-business (B2B) model as its primary market. However, this platform also is still accessible to business-to-consumer (B2C) clients.
Markus describes the Finfra platform as a one-stop shop to launch and scale white-labeled credit services. He claims clients do not need to spend millions of dollars to enhance their technology infrastructure for five years to obtain the license and develop their team. By operating Finfra’s API system, customers can provide embedded finance within weeks.
“The primary value of Finfra is control over the customer experience. We integrate the risk control and data from the client’s platform to reasonably provide them with credit services without taking on too many risks. This Function-as-a-Service (FaaS) startup also has portfolio analytics to help customers monitor performance and key lending KPIs,” added Markus.
The General Partner of Seedstarts International Ventures, Patricia Sosrodjojo, stated, “We have observed similar initiatives succeed in emerging markets where MSMEs face significant hurdles to accessing capital. Finfra’s approach aligns with national economic development goals and is well-positioned to take on the challenges of this rapidly growing market,”
Just founded in May last year, Markus revealed that the company’s business enhancement had stabilized in the first quarter of 2023. Recognizing this bright prospects, he is confident about increasing business volume up to 70% – 80% by the end of this year. Hitherto, Finfra has been used by diverse industries, including logistics, MSMEs, and e-commerce apps for merchants.
