Modalku is an online marketplace that connects small businesses in Indonesia with lenders for peer-to-peer financing, utilizing a digital platform to facilitate loan applications and funding. This service addresses the challenge of limited access to capital for small and medium enterprises (SMEs), enabling them to secure flexible loans ranging from 1 to 24 months.
Funding
$38.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ACFounders
Product
Problem
Small and medium-sized enterprises (SMEs) in Indonesia face challenges in accessing capital due to limited collateral and formal credit history. Traditional lending processes are often lengthy and require extensive paperwork, creating barriers for SMEs seeking timely financing.
Solution
Modalku is a digital financing platform that connects Indonesian SMEs with individual and institutional lenders, providing access to working capital loans. The platform offers a range of financing products, including invoice financing, purchase order financing, term loans, and project-based financing, with flexible tenors ranging from 1 to 24 months. Modalku streamlines the loan application process through its online platform, enabling SMEs to secure funding without the need for collateral. By leveraging technology, Modalku aims to bridge the funding gap for SMEs and facilitate their growth.
Target Audience
Modalku primarily targets Indonesian SMEs seeking working capital to finance invoices, purchase orders, term loans, and government projects, as well as individuals and institutions looking to invest in SME debt.
Features
- Online loan application platform with a streamlined digital process
- Invoice financing options with tenors up to 90 days and bullet repayment
- Purchase order (PO) financing solutions with tenors up to 120 days
- Term loans with flexible tenors up to 24 months and monthly installment payments
- Project-based financing for government projects listed in e-catalogue and LPSE systems
- Loan amounts ranging from Rp 300 million to Rp 5 billion
- Integration with escrow and virtual accounts to comply with OJK regulations
- Mobile applications for both lenders and borrowers