JAKARTA. KoinWorks, a peer-to-peer (P2P) lending fintech that was founded in 2016, has just launched the 2023 Impact Report which displays the company's social impact throughout 2023 after distributing financing facilities to more than 900 thousand MSMEs (Micro, Small and Medium Enterprises).

Benedicto Haryono, CEO and Co-Founder of KoinWorks Group, highlighted the company's challenges and achievements throughout 2023. Especially with a number of innovations in inclusive financing, with a business focus on interconnected supply chains. "This achievement was successful thanks to the extraordinary dedication and enthusiasm of our team as well as the support of all stakeholders," said Haryono, in his official statement.

For the record, KoinWorks also collaborates with various parties in distributing supply chain financing, invoice financing and direct loans. As carried out by KoinWorks together with Eratani, an agritech platform that received funding of IDR 23 billion in 2022.

Andrew Soeherman, CEO of Eratani, admitted that the financing distributed by Eratani thanks to collaboration with KoinWorks has proven to make a big difference for farmers. The impact is even said to be able to increase farmer production by up to 20%.

It should be noted that the financial innovation and inclusion initiated by KoinWorks has succeeded in distributing financing of up to IDR 27.3 trillion to hundreds of thousands of MSMEs. This financing was channeled through more than 106 thousand loans, with around 83% of the funding source coming from young investors.

Meanwhile, 80% of KoinWorks' financing portfolio is distributed to micro businesses. Then 36% of financing was distributed to businesses owned by women, and 48% of financing was distributed to rural areas. (KR/LM)