Indonesian fintech lender Amartha bags $7.5m from Norwegian investment fund

Indonesian fintech lender Amartha bags $7.5m from Norwegian investment fund

Tech in Asia·2021-06-04 13:00

Amartha, an Indonesian peer-to-peer lending startup, has received US$7.5 million in funding from the Norwegian state-owned investment arm Norfund.

More funding details

Sole investor: NorfundStage: Unspecified

More company updates

A representative from Amartha declined to disclose the structure of the investment.The company will use the money to fund loans for women micro-entrepreneurs in Indonesia’s rural areas and support environment-friendly businesses in the country.Since its inception, Amartha has disbursed more than 3.7 trillion rupiah (around US$258.5 million) to more than 670,000 women in Java, Sumatra, and Sulawesi island.The announcement comes after Amartha raised US$28 million from the Women’s World Banking Capital Partners II fund and MDI Ventures earlier this year.

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