Amid Covid-19, Indonesian P2P lender KoinWorks raises $20m in convertible note funding
- Indonesia
- 2 min read
- Apr 13, 2020
- By Putu Agung Wija Putera
Illustration of the KoinWorks app. ©KoinWorks
Backed by Quona Capital, EV Growth and other investors, KoinWorks plans to disburse more loans amid greater uncertainty and default risk
P2P lending platform KoinWorks has raised $20m in the form of convertible notes from existing investors Quona Capital, EV Growth, the East Ventures joint fund with SMDV and Yahoo Japan, Saison Capital and other unnamed investors.
Netherlands-based Triodos Bank also participated, extending credit facilities that Koinworks will use to underwrite new loans.
Announcing the news, Willy Arifin, Executive Chairman and co-founder of KoinWorks, said in a press release dated April 13: “As an institution with the protection of our lenders’ capital at our core, being well capitalized is always a top...
Netherlands-based Triodos Bank also participated, extending credit facilities that Koinworks will use to underwrite new loans.
Announcing the news, Willy Arifin, Executive Chairman and co-founder of KoinWorks, said in a press release dated April 13: “As an institution with the protection of our lenders’ capital at our core, being well capitalized is always a top...
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