Heaptalk, Jakarta — Jenfi, a Singapore-based financial technology startup, announced to expand its business in Indonesia (6/6). This company expansion will provide alternative funding solutions to SMEs and startups in Indonesia.
According to the Ministry of Communication and Informatics, Indonesia’s digital economy has continued to grow significantly during the two years of the COVID-19 outbreak. The data also indicates the enhancement of digital economy, from US$69 million in 2021 to US$313 million in 2030.
The development of e-commerce is one of the main factors for the digital ecosystem improvement. This factor can also be noticed from several factors, including the number of users, sellers, consumers, and transaction amount. Perceiving the potential of this increase, Jenfi is confident in assisting the capital needed for SMEs to boost their economic recovery.
Fachri Bayu, Head of Growth of Jenfi Indonesia, stated, “Jenfi attempts to present the latest financial solutions in Indonesia by launching an alternative revenue-based financing platform for Indonesian SMEs and startups. Realizing the rapid transformation of business model ecosystems, Jenfi also intends to show diverse innovations in Indonesia.”
Also, the Singapore-based company will disburse US$6,917 to US$69,172 fund for SMEs and startups in Indonesia. The capital service from the platform is exclusively limited to the growth service, including Facebook, Instagram, Linkedin, or the advertisement service of Google.
This solution aims to ensure the right capital allocation, solely for generating revenue. Jenfi’s team will monitor the progress by integrating business revenue accounts on multiple platforms, including Shopify, Stripe, Braintree, Lazada, Shopee, and Tokopedia. This strategy is initiated to measure Jenfi’s income that will be calculated from the generated revenue of SMEs’ business reports.
This financial company will examine several benchmarks prior to distribute the fund for Indonesia’s SMEs and startups, including the financial strength, business model, capital inflow and outflow, and efficiency of business performance. The assessment required is intended to minimize the risks for Jenfi.
“Indonesia is an enticing market for Jenfi due to rapid growth in e-commerce. We recognize that traditional funding solutions are frequently unreachable for regional SMEs. We expect to give quick access to growth capital for the digital economy in the region by establishing our presence in Indonesia,” affirmed Jeffrey Liu, Co-Founder and CEO of Jenfi.
Furthermore, e-commerce statistics in Indonesia shows that e-commerce enterprise has encountered a 24.4% revenue growth in 2021, compared to the preceding years. The outcome is supported by new consumers’ preference to make an online purchases.
Online shopping behavior has increased by 25.5% during the post-pandemic, compared to 17.5% in pre-pandemic. This trend is also amplified by 21 million new digital consumers in 2020 and first quartal of 2021.
“We recognize the growing demand for our solutions in Indonesia. Hence, we expect to follow our accomplishments in Singapore by expanding our reach in Indonesia. With the tremendous of fast-growing Indonesia companies, Jenfi’s solution is clear to reinforce the digital economy in Indonesia,” Jeffrey in his closing statement (6/6). (SFM)
Editor: Ariq Zufar
