JAKARTA – PT Modalku Indonesia, the owner of Modalku fintech platform, has distributed IDR 41.2 trillion of credits by the end of 2022.

Reynold Wijaya, Co-Founder and CEO Modalku, mentioned that those loans were channelled to 5.1 million debtors in Indonesia, Malaysia, Singapore, Thailand, and Vietnam. “The growth of credit distribution of Modalku Group has reached 40% compared to the previous year,” he said, quoted today (19/1).

According to Wijaya, the amount of distributed loans indicates how high the demand for financing needs in the Micro, Small, and Medium Enterprises (MSMEs) scene. Modalku reportedly distributed 55% of the total credits to the wholesale and retail trading sector, including online shop. Then, the manufacturing, construction and warehouse sector received 44% of the total credits, while the forestry and fisheries sector got the remaining 1%.

Iwan Kurniawan, Co-Founder & COO of Modalku, claimed that the MSME sector will remain the supporting pillar amidst the concern of volatile economic situation. “We are still committed to reinforce our performance and provide fundings for MSMEs,” he said. (LK/ZH)