Finfra, an Indonesian lending-as-a-service infrastructure provider, has raised US$2.5 million in a funding round led by Cento Ventures.
Accion Venture Lab, Z Venture Capital and Avafin founder Matiss Ansviesulis also participated in the funding.
This investment will help Finfra expand its embedded lending solutions to support Indonesia’s digital SME ecosystem.
The company’s platform provides digital tools for loan management, scoring, portfolio analysis, and compliant access to capital.
Finfra also announced a partnership with Tyme Group, a multi-country digital banking network.
Tyme plans to use Finfra’s tools to launch embedded financing options like merchant cash advances across Indonesia.
Finfra’s existing investors include Hustle Fund, Firstpick, DS/X Ventures, Seedstars, Fintech Nation Fund, BADideas Fund, and Gold Dragon Ventures.
Finfra reported that since its establishment in 2022, it has facilitated over USD 65 million in loans to underserved Indonesian businesses.
The company aims to more than double its quarterly gross profit by the end of 2024.
“As more businesses incorporate lending services and products and lenders focus on the Indonesian market, our platform’s ability to connect both sides is transformative.
This investor-backed partnership puts us on the path to profitability and strengthens our mission to advance financial inclusion and expand sustainable financing options in Indonesia. ”
Markus Prommik, co-founder and CEO of Finfra, said: