Investree co-founder and chief executive Adrian Gunadi and BRI's retail and intermediary director Supari signed the partnership agreement in Jakarta on Monday. (Photo courtesy of Investree)
BRI Rolls Out New Loan for Investree Partnership
AUGUST 26, 2019
Jakarta. State-controlled Bank Rakyat Indonesia, the country's largest lender by assets, renewed its partnership with fintech company Investree Radhika Jaya by rolling out a new loan worth Rp 200 billion, or around $13 million, on Monday.
This is the second phase of BRI's partnership with Investree. In the first phase in August last year, BRI forked out Rp 50 billion for the startup.
The extension of the partnership was signed off by Investree's co-founder and chief executive Adrian Gunadi and BRI's retail and intermediary director Supari.
Adrian said the partnership is an important milestone for fintech lending in Indonesia.
"This proves that banking institutions as big as BRI can trust Investree, a pioneer in online marketplace lending. This should also break people's assumption that fintech companies are rivals to banks, when actually we are here to meet public demand for better lending access," Adrian said on Monday.
The partnership allows BRI to channel fund to Investree's customers – most of them small businesses – especially those who are not eligible to apply for loans from conventional banks.
The collaboration is likely to strengthen Investree's reputation as a local pioneer of business to business marketplace lending with a focus on local and regional small businesses.
"We will also open our doors for other banks that want to collaborate to advance the small business sector and help Indonesia achieve financial inclusivity," Adrian said.
Investree is the only fintech company that has secured a lending permit from the Financial Services Authority for both conventional and sharia businesses.
The company has also been dubbed the most promising growth-stage startup by Forbes Indonesia.
Investree has secured a total of Rp 3 trillion in loans by the end of this month. The company has also disbursed Rp 2.6 trillion in loans so far this year, yielding an annual return of 16 percent.