Need some cash? Say hi to Indonesia's KoinWorks. What began as a peer-to-peer lending platform is now a financial super app for SMEs and individuals. Get loans, open bank accounts, invest and more!
🤑 Getting that Koin
This time, it's KoinWorks' turn to get some cash. It just raised a $108M Series C, with $43M in equity and $65M in debt capital.
🦸🏻♂️ Superpowering SMEs
It's focused on helping people start and scale SMEs, which typically get rejected or underserved by banks.
Create a bank account. Create a business bank account and get a virtual credit card. Oh, and you'll get to monitor your business transactions in-app too.
Collateral-free loans. Through KoinBisis, get a loan as high as $140,000 for your business, even without going to the bank.
Wages. You won't need to say no to employees who need a cash advance because your business is low on cash.
Invoice and supply chain financing. Clients taking too long to pay? Or do you need to stock up on goods but can't afford it?
1️⃣ Going solo
Don't have a business? KoinWorks also offers P2P loans (aka crowdlending) and investment offerings for individuals.
🔜 What's next
It's looking to double its team of 400, triple revenue and double its userbase by the end of this year.
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