Heaptalk, Jakarta — Indonesia’s unicorn eFishery has partnered with Amar Bank to provide credit through close-lop financing for MSMEs in the aquaculture sector. In this collaboration, both parties will disburse joint funds of up to US$6.2 million or around Rp100 billion (USD1 equal to Rp15,879) to fish cultivators in the archipelago.
In the detailed partnership, this loan will be addressed to fish farmers who are members of the Kabayan program that eFishery manages. As is known, this program, which has existed since January 2020, aims to provide fish farmers with financial access that can support their business.
Responding to this strategic collaboration, the CFO of eFishery, Dhianendra Laksamana, admitted, “This partnership is a significant move for the country’s aquaculture industry, specifically for fish cultivators. We expect to positively impact on the industry’s progress by proffering advanced solutions for MSMEs,”
Furthermore, with Amar Bank, eFishery startup will also grant digital banking service for fish farmers. Through its embedded banking and financing product, this banking company will support the businesses of eFishery partner fish farmers by embedding digital banking services into the eFishery platform.
“We focus on financial inclusion, especially for MSMEs, through solutions and reliable financial services. We are pleased to be able to collaborate with eFishery to encourage the growth of MSMEs in Indonesia’s aquaculture sector,” said Digital Banking Service Function Head of Amar Bank, Benyamin Tampubolon.
In assisting the progress of Indonesia’s MSMEs, Amar Bank has served more than 400,000 through its digital banking product, Tunaiku. As a result, the company has disbursed more than 1 million loans, totaling US$629 million. By utilizing big data and predictive analytics and big data, this service is claimed to contribute to the growth and development of micro-businesses in Indonesia.
eFishery and its partners’ effort to retrieve the aquaculture industry
Before teaming up with Amar Bank, this unicorn startup collaborated with Amartha in 2023 to boost food security by strengthening aquaculture’s potential. The cooperation will provide inclusive financial access for Indonesia’s cultivators, expecting to unlock potential in enhancing their business in the fishery sector.
In the early partnership stage, these entities also partnered through the Kabayan program, which is part of the eFishery Mall (eMall) service. Amartha channeled the capital at US$7.6 million. Perceiving the cultivators’ high enthusiasm, by performing further cooperation, this financial technology company aims to disburse financing access up to US$33.5 million.
On the other hand, Indonesia’s aquatech startup is also affiliated with KoinWorks to facilitate loans to fisheries MSMEs in the Kabayan program with fast approval for a limit of up to US$12,585. These fund provisions are intended to expedite the production process from fish breeding to harvest.
