KoinWorks provides a comprehensive financial platform for underserved SMEs, including working capital loans, online bank accounts, cards, point-of-sale, early-wage access and HR management systems. The company has expanded its product set into an SME Neobank that it plans to scale using new funding. KoinWorks says its user base tripled to 1.5 million customers and it has a waitlist of 100,000 SMEs being onboarded to its new software. Monthly loan disbursements have tripled since 2019 to nearly $50 million, and revenue has quadrupled over the same period. Management says the company became cash-flow positive earlier this year and that its non-performing loan rate is under 2%. KoinWorks is headquartered in Jakarta, with holdings in Singapore and tech offices in Yogyakarta, India and Vietnam. KoinWorks is an Indonesia-based peer-to-peer lending platform founded in 2015 that says it was the first Indonesian P2P lender to be registered and is supervised by the Indonesian Financial Services Authority. Its core offering is a machine learning–based online marketplace that matches lenders and borrowers and aims to be a unified “super app” for financial needs. Product lines include KoinRobo (automatically diversified portfolios with fixed returns and social impact), KoinP2P (lending from as little as Rp100,000 with an advertised EAR of 18% p.a.), and KoinBisnis (SME financing up to Rp2 billion without collateral within one day). The company reports more than 300,000 users on its platform. Financially, KoinWorks recently completed fundraising activity, including a $20 million round from existing investors and a subsequent $10 million injection. The articles describe ongoing growth and expansion of product offerings rather than specific revenue metrics. KoinWorks is Indonesia’s largest peer-to-peer (P2P) lending platform registered and supervised by the Indonesia Financial Services Authority (OJK). Founded in 2016 by Benedicto Haryono and Willy Arifin, the platform connects borrowers and retail investor-funders through a single online marketplace. It offers products including business financing, invoice financing, KoinBisnis and KoinPintar, and leverages machine learning to underwrite loans and match funders to borrowers. KoinWorks reports more than 300,000 users, with over 60% of investor-funders being millennials and 70% saying it is their first investment product. The company plans to use new capital to expand its team and partnerships and to further develop systems and technology to increase financial inclusion across Indonesia. Its mission focuses on providing access to productive loans for SMEs historically underserved by traditional banks. KoinWorks operates a machine learning–driven peer-to-peer lending platform that connects investors and borrowers for business, education, health, and employee loans. The company is led by co-founder and chairman Willy Arifin. The platform reports approximately 50,000 lenders. KoinWorks intends to use new funding to invest in technology and improve user experiences. The business focuses on matching lenders and borrowers across multiple loan categories via its P2P marketplace. The article does not disclose additional financial metrics beyond the lender count and the announced funding.

Total raised

$145M

Funding rounds

5

Latest round

Debt Financing

Latest activity

Jan 2022