KoinWorks Indonesia Announces Investment From Quona Capital
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Indonesian peer-to-peer lending platform KoinWorks said in a statement on Monday that it has received an investment from US-based venture capital firm Quona Capital. “We’re very happy we could collaborate with Quona as one of our investors,” said Benedicto Haryono, chief executive and co-founder of KoinWorks. “With the inclusion of Quona among our line of investors, it will further help develop KoinWorks in becoming a responsible peer-to-peer lending firm and continue to innovate and provide a positive impact for society,” Benedicto added.
Quona Capital focuses on investment in financial technology companies it deems to have potential in facilitating access to financial products. The Washington-based company provides financial access in various regions, including Latin America, Africa, Britain and Asia.
KoinWorks said in the statement that the collaboration between itself and Quona Capital is based on a mutual understanding that technology has a strong role in improving quality and access to financial access for those beyond the reach of traditional banks.
The Jakarta-based fintech company, which has 100,000 investors on its platform, is one of the first fintech companies in the country to have obtained a license from the Financial Services Authority (OJK).
KoinWorks bridges the gap between investors and investees through its online platform and provides unbanked individuals with access to financial services.
The company focuses on business and educational loans. It won Bisnis Indonesia’s Most Innovative Fintech of the Year award in 2017.
Questions & Answers
Q.What is Quona Capital's investment focus?
What is Quona Capital's investment focus?
Quona Capital primarily invests in financial technology companies that show potential in improving access to financial products. The firm operates globally, including in Latin America, Africa, Britain, and Asia.
Q.How many investors currently use the KoinWorks platform?
How many investors currently use the KoinWorks platform?
KoinWorks, the Jakarta-based fintech company, currently has 100,000 investors registered on its platform. It facilitates connections between investors and individuals needing financial services.
Q.What types of loans does KoinWorks provide?
What types of loans does KoinWorks provide?
KoinWorks focuses on providing loans for business and educational purposes. The platform aims to offer financial services to individuals who are typically unbanked by traditional institutions.
Q.Has KoinWorks received any industry recognition?
Has KoinWorks received any industry recognition?
Yes, KoinWorks was recognised as the Most Innovative Fintech of the Year in 2017 by Bisnis Indonesia. It was also one of the first fintech companies in Indonesia to secure a license from the OJK.
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