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UangTeman Secures $12 Million In Series A Funding

  • 27 August 2017
  • Disruptor Daily

Indonesia-based UangTeman recent announced successfully securing $12 in its Series A round, which was led by K2 Venture Capital. Other participants included Draper Associates and STI Financial Group.

Image result for uangteman logo

“Our big data driven credit risk algorithms determine, in real time, the creditworthiness of loan applicants within Indonesia. A successful applicant can expect to receive the loan proceeds in his/her bank account within 2 hours after final approval and verification. Our vision is to build the personal credit graph of Indonesians through the use of big data analytics and artificial intelligence.”

Investors

K2 Venture Capital invests in early stage technology companies in Southeastern Asia. The venture capital fund has also invested in Money Table, a company seeking to become the leading online financial platform that fixes the problems with current platforms.

Draper Associates is a seed stage venture fund that is located in Menlo Park, California. It invests globally on teams of great people who are creating companies in the sectors of mobile, IOT, new finance, cloud, SaaS, gaming, and new media. Draper has recently invested in EquityZen, Samba TV, and Storyhunter.

STI Financial Group is an asset management firm specializing in private equity investments, structured product management, and hedge funds management. UangTeman is the only disclosed investment by STI to date.

UangTeman Information

UangTeman launched in April of 2015 and offers a peer-to-peer lending platform that bills itself as an online lending service that offers short-term micro-credit to Indonesian consumers. The company offers unsecured loans of up to 6 million Rupiah for up to 30 days.

“Our big data driven credit risk algorithms determine, in real time, the creditworthiness of loan applicants within Indonesia. A successful applicant can expect to receive the loan proceeds in his/her bank account within 2 hours after final approval and verification. Our vision is to build the personal credit graph of Indonesians through the use of big data analytics and artificial intelligence.”

UangTeman has frequently explained that its main mission is to help those people who are not able to access transparent and safe financial services and may otherwise rely on unregistered pawn shops and unscrupulous lenders.

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Aidil Zulkifli – CEO of UangTeman

“We will invest in research and development that would allow us to deliver such good news to our customers,” explains Chief Executive and Founder of UangTeman, Aidil Zulkifli.

K2 Venture Capital Managing Director, Stanley Yang, said, “We see UangTeman as the most promising pioneer in the budding fintech industry in Indonesia. They have a dynamic management team that commits to building a high-tech platform. We are very optimistic that they can be successful in other markets in this region.”

Zulkifli added, “We are very happy with the support given by local and international investors, including K2 Venture Capital in this very competitive fundraising. Our mission is to continue to build an online lending platform that centers on user satisfaction, where we focus on creating the best lending and borrowing experience for underprivileged communities in the Southeast Asia.”

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