In Indonesia, Investree has also begun expanding to North Sumatra, where it is working with local development banks as partners

Indonesian P2P lending startup Investree raised an undisclosed Series B funding round led by SBI Holdings.

Mandiri Capital Indonesia, Persada Capital, Endeavor Catalyst, 9F Fintech Holdings Group, and existing investor Kejora Ventures also participated in the funding round.

The startup will use the funding to develop new technology and business line, implements marketing strategies, and support talent acquisition.

Investree is also getting ready to enter Thailand following the launch of its Vietnam operations eLoan.

Also Read: Indonesia cracks down on 227 illegal P2P lending companies, most of them originated from China

Investree CEO and Co-Founder Adrian Gunadi told DailySocial on Tuesday that the Thailand operations will begin by the end of the year. The startup is currently working with local partners on the matter of regulations and other mechanism.

“When Investree was first launched in Indonesia, regulator relations and market comprehension are two of the most critical issues for us. This is has become the foundation of our regional expansion,” he said.

In its home market Indonesia, Investree has also begun expanding to North Sumatra, where it is working with local development banks as partners.

The startup claimed to have secured 45,528 lenders and 2,256 borrowers by July 2018. It has channeled up to IDR1.04 trillion (US$69 million) or almost 70 per cent of its targeted fund of IDR1.5 trillion (US$103 million).

 

The post Indonesian P2P lending startup Investree raises Series B funding, expands to Thailand appeared first on e27.