Regardless of the capital disbursement achievement, Modalku Group has also obtained the registered funders of more than 230,000 people, coming from individuals and institutions.
Heaptalk, Jakarta — A digital funding platform for MSMEs, Modalku Group, has disbursed capital worth US$2.7 billion, or nearly Rp41.2 trillion (US$1 equals Rp15,093) towards more than 5.1 million transactions of MSMEs in Indonesia, Singapura, Malaysia, Thailand, and Vietnam, during the 2022 period.
Compared to the former report in 2021, the funding distribution amount of Modalku Group evolved to over 40%, proving a high demand for MSMEs related to funding access.
Amidst the economic dynamics in 2022, The CO-Founder and CEO of Modalku, Reynold Wijaya, recognized that 2022 is a pretty complex momentum. However, Modalku has managed to secure funding in the early year of the investors, expecting to unlock numerous opportunities for the Modalku team to grow and survive in 2023.
“Last year is the collaboration momentum, whereby Modalku Group has cooperated strategically with several stakeholders. We conducted this action to build an extensive ecosystem devoted to the MSMEs in Indonesia,” added Reynold.
During 2022, Modalku has also accomplished strategic collaboration with over 30 partners from multiple industries in Indonesia. The strategic partners came from the e-commerce, outsourcing, logistics, transportation, manufacturing, food and beverage, agribusiness, and medical equipment sectors. As a result, the channeling cooperation scheme has elevated in terms of the nominal, increasing by 250% in 2022.
In Indonesia, the capital disbursement of Modalku has been dominated by several MSME industries, attaining 55%. These sectors cover the wholesale and retail trade and online business industry. Besides, the company has touched the service sector of 44%, spanning the processing, construction, transportation, and warehousing industry. While for the forestry and fisheries sector, the outcome demonstrated only 1%.
Furthermore, as noted by the company, Modalku Group has obtained the registered funders of more than 230,000 people, coming from individuals and institutions. In Indonesia, the number of funders is dominated in Java, attaining 83%. Regarding the product of Modalku, around 40% of funders in this financial technology platform designated protected loans that Modalku offers, and the funders who have performed refinancing activity of 89%.
Welcoming 2023, this funding platform would focus on enhancing the company’s profitability and denoting a business enhancement positively. To reach a more profitable target, the company would also strengthen its fundamental business, reinforcing business licenses, tackling a prudent company’s cost, broadening strategic cooperation, growing its brand reputation in the unreachable industries, and flourishing technology infrastructure.
“Amidst the current uncertain economic situations, MSMEs are anticipated to be the backbone of Indonesia’s economy. For this reason, Modalku would continue to resolve the existing problems that MSMEs faced by providing funding access and transaction facilities, as well as contributing to managing the flow of MSMEs’ transactions,” Co-Founder and COO of Modalku, Iwan Kurniawan, said in a statement.
