Indonesia fintech platform Investree gets $231m Series D
Investree Group, operator of a series of lending platforms that target micro, small and medium-sized enterprises (MSMEs) in Southeast Asia, has raised EUR 220m (USD 231m) in Series D funding.
The round – which has yet to close – is led by Qatar-based investor JTA International Holding, which has also established a joint venture with Investree in Doha to roll out services in the Middle East. SBI Holding also took part, according to a statement.
SBI led Investree’s Series B – of undisclosed size – in 2018, with supporting contributions from Endeavour Catalyst, Kejora Capital, and Mandiri Capital. It re-upped in the Series C two years later. MUFG Innovation Partners took the lead in that round, which also featured BRI Ventures. China’s 9F Fintech Holdings Group is also an investor in the company.
In addition, Investree has received two rounds of debt financing, according to AVCJ Research. US-based Accial Capital provided USD 15m in 2020 and USD 10.5m in 2021. ResponsAbility Investments took part in the latter deal.
Founded in 2015, Investree targets MSMEs that are underbanked or have faced difficulties securing loans from traditional financial institutions due to a lack of collateral. It is licensed to operate in Indonesia, Thailand, and the Philippines.
The company addresses bottlenecks at each end of the supply chain, providing buyer financing to MSMEs that source products from large retailers and wholesalers and invoice financing to MSMEs that sell goods and services to larger businesses. Other products include working capital term loans and microproductive loans. The latter are for small-scale entrepreneurs in Investree’s partner ecosystem.
These offerings are underpinned by a peer-to-peer marketplace that connects borrowers and lenders. Investree claims that its technology-driven origination model optimises data collection to speed up the lending process and make it more accessible.
As of October 2023, in Indonesia alone, the company had disbursed loans amounting to IDR 13.9trn (USD 916m), of which IDR 522.6bn was outstanding. It has worked with 31,000 borrowers to date, half of whom are considered active borrowers. On average, loans are funded within four days. The average return to lenders is 18.3%.
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