Wallet Feeling Light? These Loan Providing Apps In Indonesia Are What You Need

No one likes an empty wallet, especially when you need to stock up on essentials during times of emergencies. Sure, you can work double or even triple shifts to earn some extra cash, but there’s a limit to how much you can actually earn. This is where credit companies and money lenders come into the picture. There are a lot of companies you can go to for extra money that you can pay back later, like Akulaku, and in this article, we’re going to take a look at the biggest names that you can go to for loans.

Akulaku

It is an app-based platform which will provide the consumer with electronic financing. The financial support that it provides for the products such as mobiles and laptops or even electric household appliances and much more is to be considered. You can simply login to Akulaku to easily make the payments via instalments through debit or credit cards. The Akulaku app has been made available on the iOS and the Android platform as well. It was founded in the year 2014 in Jakarta, Indonesia. It is funded with an approximate of 145 mil USD and some of the investors are Sequoia Capital, Shunwei Capital, and Qiming Venture Partners.

FinAccel

Point of Sale financing is what FinAccel aims to achieve through its online platform. The loan limit is well up to Indonesian rupiah of 30 million. The duration of the term is made available up to 12 months and this can be availed through the app which is available on iOS as well as Android devices. there is a different app made available for personal finance management which is only available on the Android devices. It was founded in the year 2015 and has been placed in Singapore with the funding of 95 mil USD. Some of its investors are MDI ventures, Nicholas Robert Apau Jachowski, 500 startups and other 21 investors.

Modalku

Modalku is based on a P2P lending marketplace to provide business loans. Anyone who has a business can avail loans from a range of 5 million Indonesian rupiahs to 2 billion. The duration of the loan term can be 3, 6, 12, 15, 18, 21 or 24 months. An administration fee of 3% from the amount of the loan approved is being charged by the platform. They have set a minimum limit in the investment amount which is a hundred thousand Indonesian rupiahs. It was founded back in the year 2016 and is based in Jakarta and has a funding of 77 mil USD. Some of the investors are Golden Gate Ventures, Softbank Venture Asia, Sequoia Capital and 4 more investors.

KoinWorks

KoinWorks is also a P2P lending platform - for business loans and educational loans. It makes use of Machine Learning code to match lenders with proper borrowers. The lenders can provide funds starting from hundred thousand RP with around 18% of interest per annum. Non-collateral loans of interest which range from 0.75% to 1.67 % per month can be availed by the borrowers. This company was founded in the year 2015 and is also based in Jakarta with the funding of 55 million USD. They even have investors like Convergence Ventures, Triodos Bank, Lendable among six others.

C88 Financial technologies

C88 financial technologies were established to provide a lending service platform. Artificial intelligence is being used for credit scoring and the assessment of credit risk as well. Solutions will be provided to financial marketplaces and it also offers the digital solutions for the customer onboarding. The company was founded back in the year 2013 in Jakarta to the funding of 45 million USD and investors Korea Investment Partners, Pelago Capital and 16 other ventures.

Kredivo

Kredivo is a product of FinAccel which is being engaged in providing retail credits. To avail this the users have to put in basic information about them as well as a social networking account details for the loans that are being provided by Kredivo. It does not charge any fee during the first month of credit. It was founded in the year 2015 in Jakarta with the funding of approximately 30 million USD and has nine investors.

UangMe

This company is an online-based platform which provides personal loans and interest rate which depends upon the amount length and the duration of the loan term. The loan centre provided which is available on Android device only. It was recently found in the year 2018 which is based in Jakarta with the funding of 24 million USD and has backings from Cheetah Mobile and Gobi Partners.

Investree

Investree is an Indonesian based company with a sharia-compliant p2p lending platform which helps connect the borrowers directly to the lenders. The borrowers can apply on the platform and get post approval on the loan application which will be displayed on the market place. The lenders have different options to choose from the listings which basis their criteria. The loan will be made available for a tenure of 1-6 months. It was founded in the year 2015 and based in Jakarta with the funding of 24 million USD. CEO office investors are SBI Holdings, Mitsubishi UFJ financial group, Bank Rakyat Indonesia and six different investors.

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