Singapore Islamic crowdfunder partners with Jakarta SME financing aggregator to extend Indonesia footprint
Photo: Alami and Kapital Boost at the signing ceremony inking their partnership in Jakarta on February 2, 2018. Salaam Gateway/Yosi Winosa
JAKARTA – Kapital Boost, the Singapore-based Shariah-compliant crowdfunding platform for small and medium-sized enterprises (SMEs), is partnering with Indonesia’s Alami, a start-up that connects SMEs to Islamic financial institutions, to widen their services in Indonesia, the two companies announced at a media event yesterday in Jakarta.
Kapital Boost CEO Erly Witoyo told Salaam Gateway both companies address the lack of financing available to SMEs in Indonesia. SMEs make up over 95 percent of total businesses and over 70 percent of total employment in Indonesia but less than 15 percent have access to external financing.
Under the partnership, Alami will leverage its SME network in Indonesia to direct businesses to Kapital Boost that will facilitate fundraising and financing from global investors.
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