AwanTunai raises up to $20M in debt funding to digitize Indonesia’s cash economy
Summary
Leveraging valuable merchant transaction data that is predictive of credit performance, AwanTunai can originate low-interest financing to this underserved and unbanked segment. Low cost institutional capital accessing Indonesia’s vast unbanked and underbanked market is the way to achieve impact at scale.” said Dino Setiawan, Chief Executive Officer of AwanTunai. Major hurdles in lending to merchants have traditionally been a lack of data for formal credit underwriting and market fragmentation. Accial Capital is an impact-focused, tech-enabled investor in small business and consumer loan portfolios in Latin America and South East Asia. AwanTunai is digitizing a closed-loop payment system with distribution financing for the offline FMCG and staple food supply chain in Indonesia.