JAKARTA – Modalku Group, a peer-to-peer (P2P) lending platform, has secured an investment of USD 25 million from Cool Japan Fund (CJF), equivalent to IDR 398 billion with an exchange rate of IDR 15,599 per USD 1.

Kelvin Teo, Co-founder and Group CEO of Funding Societies | Modalku, expressed optimism that the digital financial services sector in Southeast Asia will see growth following the capital injection from CJF. "We are honoured by CJF's commitment to collaborate and support Japanese companies in their international expansion," he said, as quoted on Friday (20/12).

He added that the CJF investment follows a series of significant milestones achieved by Modalku Group in 2024, including strategic equity investments from Maybank and a third annual credit facility from HSBC's Asean Growth Fund, with cumulative commitments exceeding IDR 1.59 quadrillion in credit facilities.

To date, Modalku Group has disbursed IDR 63 trillion in business financing, served 100,000 SMEs, and processed over IDR 22 trillion in annual gross payment transaction value since 2022.

On the other hand, Kenichi Kawasaki, President and CEO of CJF, stated that Modalku Group is the ideal partner to help Japanese companies overcome challenges as they expand into new markets, particularly in Southeast Asia. "We are delighted to support Modalku Group through this investment," he said.

Kenichi is confident that CJF's investment in Modalku Group will drive demand for Japanese products and services in Southeast Asia, benefiting Japan's economy and SMEs partnering with Japanese companies. (LK)