Modalku

Modalku is an online marketplace based in Jakarta, Indonesia, designed to connect small businesses seeking loans with lenders looking to fund these loans. By leveraging technology, Modalku offers borrowers access to financing options that may not be available through traditional channels, often at lower interest rates. Lenders participating in the platform can achieve returns that surpass those typically found in bank deposits and traditional investment products. This marketplace lending model has been successfully implemented in various countries, including the USA, UK, China, and Singapore, demonstrating its effectiveness in supporting small business growth.

Iwan Kurniawan

Co-Founder and COO

5 past transactions

Broom

Debt Financing in 2024
Broom is a company that specializes in providing short-term loans to automobile dealers. The platform allows dealers to use their car inventories as collateral for these loans. This service enables dealers to access necessary funding, conduct car auctions, and sell vehicles efficiently within the marketplace. By leveraging Broom's services, automotive businesses can enhance their operations, ensuring a steady supply of vehicles and fostering growth in their showroom activities.

PT Buana Sejahtera Multidana

Acquisition in 2022
PT Buana Sejahtera Multidana engaged in the used vehicle financing.

CardUp

Acquisition in 2022
CardUp is a payment platform designed to streamline the process of making and receiving payments for individuals and businesses. It enables users to shift large expenses—such as rent, insurance premiums, payroll, and supplier invoices—onto credit cards, even for transactions typically requiring cash or bank transfers. By offering a no-code solution, CardUp simplifies cash flow management, automates payment processing, and allows users to earn rewards on their credit card transactions. The platform operates across Singapore, Hong Kong, and Malaysia and is licensed as a Major Payment Institution by the Monetary Authority of Singapore under the Payment Services Act. CardUp’s tools are aimed at enhancing efficiency and control over financial operations for its users.

Bank Index

Corporate Round in 2022
Bank Index is a private commercial bank established in 1993, focused on serving Indonesia's population by providing working capital and investment loans. The bank prioritizes expanding its market share within the small and medium enterprises segment and collaborates with various financial institutions such as rural banks and finance companies for joint financing initiatives. Bank Index operates through a network of 42 branches and offices, with a significant presence in Jakarta and other major cities. The majority ownership of the bank lies with the Setiawan family, an influential Indonesian family with diverse business interests including financial services, sugar and flour refinery, and property.

Paper.id

Series A in 2019
Paper.id is a SaaS startup founded in 2016 and based in Indonesia, offering a comprehensive platform for small and midsize enterprises to streamline their invoicing, accounting, and inventory management processes. The company addresses the challenges faced by businesses that still depend on manual operations by providing tools that facilitate digital invoicing, payments, and financial management. Its platform incorporates features such as supply chain analysis and machine learning to enhance workflow efficiency and improve cash flow. Additionally, Paper.id offers integration with digital payment systems and a co-branded business card in collaboration with BRI, enabling entrepreneurs to manage their order-to-pay processes and generate reports with ease.
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