Fintech Lender Amartha Bags $28M From Women's World Banking to Fund Indonesia's Microentrepreneurs

Source: KrASIA

Peer-to-peer lending startup Amartha said on Monday that it received a $28 million investment from the Women's World Banking (WWB) Capital Partners II fund, alongside MDI Ventures. Existing backers Mandiri Capital and UOB Venture Management also participated in the round.

WWB Capital Partners II is the second gender-lens investment fund established by US-based nonprofit organization Women’s World Banking. The fund aims to close the gender gap by investing in high-performing financial service providers that serve low-income women. This marks WWB’s first investment in a fintech company in Southeast Asia, according to Taufan. Moving forward, Amartha will collaborate with WWB in several projects aimed at underserved communities in rural areas.

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