KoinWorks Raises $108M in Series C Funding

KoinWorks is a fintech platform based in Jakarta, Indonesia. It raised $108m through Series C funding.

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MDI Ventures, Telkom Indonesia’s corporate venture arm, led the round. Previous equity investors included Quona Capital and Triodos Investment Management as well as Saison Capital, ACV , East Ventures, and Quona Capital.

This funding includes $43 million equity and $65 millions in debt capital. It will be used to expand KoinWorks’ solutions. The company plans to hire 400 additional employees worldwide to meet the demand.

KoinWorks is led by Benedicto Haryono (CEO) and Willy Arifin (Co-founder), and focuses on the underbanked and underserved markets. The platform provides freelancers and small- to medium-sized business owners with access to credit, cards, and productivity tools. The platform will offer a variety of integrated apps such as Accounting Software and POS, e-Commerce, Human Resource Management Software for SME, and a Budgeting App alongside KoinWorks staple products like working capital, invoice factoring early wage access, and treasury management.

Holding is located in Singapore, and the company has a tech office in Yogyakarta and India. KoinWorks has over 1.5 million users.

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