Islamic P2P Ethis and Alami bag new funding to expand footprint
Social finance platform aims to achieve a 300% growth to allow direct Sharia-compliant investments into SMEs.
Jakarta: Ethical investment and social finance platform operator Ethis Fintech Indonesia has secured $3 million pre-series A funding from an existing retail investor and Saudi Arabia family office, Ronald Yusuf Wijaya, CEO and co-founder, told Salaam Gateway.
The funds will be channelled to expand its financing in Indonesia. This year the company aims to reach 360 billion rupiah ($24.97 million) financing or a 300% growth over the 120 billion rupiah ($8.3 million) financing achieved in 2021. That growth came on a 50% growth on the previous year’s 70 billion rupiah ($4.8 million).
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