Indonesia P2B lender Modalku wins 100 bln rupiah Series A funding
JAKARTA - Indonesia’s peer-to-business lending platform Modalku has received a 100 billion Indonesian rupiah ($7.5 million) capital boost from its parent company Funding Societies, Reynold Wijaya, Modalku CEO told Salaam Gateway.
Singapore-based Funding Societies won the Series A funding round that was led by Sequoia India with participation from individuals from Harvard University and existing investor Alpha JWC Ventures.
According to Wijaya, this is the largest sum raised by a P2P lending platform in Southeast Asia so far.
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