Finfra, a digital lending infrastructure provider in Indonesia, has partnered with Tyme Group, a global digital banking company, to support Tyme Group's expansion into Indonesia. This move aligns with Tyme Group's goal to increase its presence in Southeast Asia.

The partnership was announced alongside Finfra's successful $2.5 million fundraising, led by Cento Ventures, with additional support from Accion Venture Lab and Z Venture Capital. The funds will be used to improve Finfra's digital lending integration capabilities, allowing non-financial platforms to offer credit services directly to customers.

Indonesia, home to around 64 million micro, small, and medium enterprises (MSMEs), presents a significant opportunity for digital credit services. The government's push for digital transformation, with 24 million MSMEs currently using digital services and expected to reach 30 million by 2025, underscores the need for accessible credit solutions. This partnership aims to meet the growing demand for credit services through digital platforms.

Markus Prommik, Finfra's co-founder and CEO, highlighted the importance of this collaboration in expanding inclusive financial access in Indonesia and fostering sustainable growth. The combination of Tyme Group's strong infrastructure and Finfra's technology is set to address the credit needs of underserved businesses. Finfra provides an API-based lending infrastructure that supports credit integration across various digital platforms, including e-commerce and logistics. Its services include loan management systems, credit scoring, portfolio analytics, and access to debt capital, offering comprehensive solutions for digital businesses to offer credit products to their customers.

Coen Jonker, Executive Chairman of Tyme Group, noted Indonesia as a key market for Tyme Group's expansion strategy in Southeast Asia. This partnership will enable the delivery of innovative credit solutions quickly, focusing on the significant MSME segment in Indonesia. Beyond securing new funding, Finfra has strengthened its team by hiring Hadi Tanzil, former co-founder of EmpatKali, as Chief Technology Officer.

The support from investors like Cento Ventures and Accion Venture Lab bolsters confidence in Finfra's business model, which allows digital platforms to provide compliant credit services efficiently. With this latest funding, Finfra has raised a total of $4.3 million and is ready to expand its reach across Indonesia. The company is targeting profitability improvements in the fourth quarter of 2024.

DAILYSOCIAL.ID