JAKARTA - Modalku, a fintech P2P lending platform, recorded total crowdfunding of IDR 65.15 trillion until November 2024. The funds were realized in five countries, namely, Singapore, Malaysia, Indonesia, Thailand and Vietnam.

Quoted from the Modalku.co.id website, Tuesday (26/11), the realization of funding in November 2024 grew by IDR 1.28 trillion compared to the end of September 2024 amounting to IDR 63.83 trillion. The funding disbursed by one of the strongest Fintechs shows a growth trend from year to year.

Loans disbursed to productive sectors with the largest portion in the Wholesale and Retail Trade segments; Car and Motorcycle Repair and Maintenance 52.04%, Manufacturing Industry 3.59%, Information and Communication 2.79%, Construction 1.679%, and others.

Meanwhile, the amount of funding approved by 5.20 million debtors in five countries grew periodically monthly to around 5.19 million debtors. For the funding period, an average of 94.5% was fulfilled within five working days after verification of debtor eligibility.  

For Indonesia, Modalku disbursed funding of IDR 627.79 billion since the beginning of this year. The accumulated recipients of funds were 338 debtors, consisting of 27 institutions and 311 individuals. Meanwhile, there were 391 active lenders, consisting of three institutions and 388 individuals. (LK/LM)