Heaptalk, Jakarta — KoinWorks has significantly expanded access to capital for MSMEs throughout Indonesia by distributing US$1.8 billion (around Rp27.3 trillion) to more than 900,000 Indonesian MSMEs. The company also provided 106,000 loans, with around 835 financed by young investors, demonstrating the social impact the rising generation generates in supporting local MSMEs.
In 2023, KoinWorks also helped Indonesian MSMEs that have received loans to create around 95,000 new job opportunities. This output increased by around 80% compared to the previous year. In addition, this peer-to-peer lending startup reported that MSME partners were able to increase sales value by an average of 37.8% in total assets, which is a metric significantly higher than reports from non-KoinWorks users.
“Our portfolio reflects our dedication to diversity and inclusion, with 80% of businesses being microenterprises, 36% being women-owned businesses, and 48% being located in rural areas. This broad reach underscores our intention to democratize financial access and encourage sustainable economic growth across various segments of society,” said CEO and Co-Founder of KoinWorks Group, Benedicto Haryono.
KoinWorks’ initiative in supply chain financing drives sustainable growth, as evidenced by the fact that around 94% of MSMEs have increased their digital media use since joining this P2P lending startup.
Comprehensive ESG framework to protect users and increase accountability of the fintech sector
This fintech startup complies with client protection standards at local and international levels, as evidenced by our participation in the Digital Finance Service Client Protection Assessment Tools by Cerise+SPTF, achieving bronze participation. Our commitment to information security and user data privacy is further strengthened with ISO 27001:2022 certification.
“This achievement goes beyond rules and regulations, reflecting our goal to users that every interaction is conducted to high ethical standards. Our top priority is user welfare, and we are determined to ensure this in every aspect of our service.” Chief of Impact KoinWorks Group, Angelique Timmer, affirmed.
The company emphasizes the importance of balance in the ecosystem, focusing on diversity, equity, and inclusion in the workplace. As is known, the company’s team consists of employees from five different nationalities, with 35% being women, an increase of 2% compared to the previous year. In Koinworks’ technology department, about 18% of the team comprises women. In addition, by emphasizing a healthy environment to operate, the company has also reduced its carbon footprint by 14% compared to the previous year.
“Our agenda for this year reflects our ambition to strengthen ESG practices, strengthen the business health of MSMEs, and pave the way for green financing and services tailored to women entrepreneurs. Inclusive ecosystems have great potential for change, namely reducing emissions, empowering women, and providing equitable products,” Benedicto concluded.
