Crowdo today announced its partnership with MatahariMall to provide working capital financing to MatahariMall’s more than 8,000 merchants via a “Super Loan” product. This was the second large scale partnership Crowdo has announced recently following its partnership launch with the Singapore Exchange SGX on March 31st.
Both partnership announcements symbolize Crowdo’s ability to work with large scale top tier partners to deliver customized financing solutions to their partner’s communities.
Through the “Super Loan”, MatahariMall merchants will be able to access loans in the range of 50 to 200 million IDR to finance their working capital needs. MatahariMall has more than 8,000 merchants in its community and many of these merchants who are micro or small medium size enterprises have very limited access to traditional banking services to help finance their businesses.
Crowdo Indonesia’s representative, Cally Alexandra said, "This partnership is in line with our mission to help the best SMEs in Indonesia to access financing from investors not only locally but also globally. As we know, currently in Indonesia there are approximately 60 million SMEs, and more than a half of them are not been able to sufficiently access funding from banks or other traditional financial institutions.The partnership with MatahariMall will strengthen Crowdo’s presence by providing business loans across the country starting today. At Crowdo, we believe that the SME community is essential to the future of the Indonesian economy, and this partnership gives them the ability to broaden their product offerings and access to the credit market.”
According to Bank Indonesia, in the mid 2016, only 22% from the total 57.8 million of Indonesia SMEs have access to get bank loans. Currently, SMEs employ about 97% of the national workforce. This indicates the major role that SMEs play for the Indonesia economy.
According to the Head of Partnership & Communication of MatahariMall, Alvin Aulia Akbar, "Since the beginning, we understand the important role of SMEs for economic growth in Indonesia. We also believe that by maximizing the use of technology, SMEs will be able to accelerate the increase of positive contribution. Including the use of fintech. This will facilitate SMEs in MatahariMall.com to accelerate the growth of their business, especially with easier access to credit. By launching the partnership with Crowdo today, MatahariMall hopes to contribute to the growth of SMEs that are involved in this program and there will be further cooperation with Crowdo to optimize the potential of SMEs in Indonesia.”
Crowdo P2B Lending has financed over 2,500 projects to date and is expected to grow even faster with its recent launch of its international platform. "Our future goal is to be the leading and largest Peer to Business (P2B) Lending platform in Indonesia and to help local Indonesian SMEs to raise financing from a global community of Investors. Meanwhile, we are constantly working to expand future partnerships to provide funding for SME communities in Indonesia”, Cally commented.