JAKARTA, 30 July 2021 - During the Covid-19 pandemic, which was accompanied by the imposition of restrictions on community activities (PPKM), it was a turbo-charged driver for technological disruption in the Indonesian financial services sector. This is affecting the surge in digital adoption among consumers - especially for e-payments and online shopping. On the supply side, this has driven a growth spurt for e-commerce and digital payments platform providers. Cashlez as a Payment Gateway this year focuses on expanding access to funding or capital for merchants to support the growth of online transactions in the community. This time, Cashlez is partnering with a licensed and registered Super Financial App that is currently developing in Indonesia, KoinWorks.

 

Through this collaboration, business actors/merchants, both individuals and companies, who are affiliated with Cashlez can apply for financing of up to IDR 2 billion from KoinWorks through Cashlez with a tenor of up to 24 months and competitive interest.

 

"One of the drivers of our focus on developing access to funding is to be able to help business people, especially MSMEs, in developing their businesses in the current situation. According to data from Bank Indonesia, as many as 87.5% of MSMEs were affected. We hope that by cooperating with KoinWorks, we will be able to help the development of MSMEs, especially Cashlez merchants for additional business capital," said Suwandi President Director of Cashlez.

 

Based on the latest Financial Services Authority (OJK) statistics, the official P2P lending financial technology industry has shown that it is able to continue the growth trend of monthly lending to IDR 13.65 trillion as of May 2021. The number of borrower accounts has also increased to 38.7 million entities, from the previous 37.7 million entities in April 2021. This means that funding from P2P lending will continue to increase in line with the public’s need for funding.

 

Benedicto Haryono, CEO and Co-Founder of KoinWorks said, “KoinWorks and Cashlez have the same mission regarding financial inclusion to help Indonesian MSMEs. We have been in the Digital SME world since 2016 and there are already more than 250 thousand business users on the KoinWorks application. We as fintech will definitely continue to support the growth of MSMEs with affordable financial access."

 

Benedicto Haryono added that this collaboration also strengthens KoinWorks’ commitment to participate in the democratization of financial services in Indonesia, especially for MSMEs who want to develop their business to produce commodities that are needed by the market.

 

Cashlez has been trusted by more than 9,000 business actors operating from various sectors, ranging from retail, transportation, logistics, F&B, hotels to tourist areas. Going forward, Cashlez will continue to innovate and improve its services, both in terms of receiving payments and funding, for various MSME sectors in Indonesia.

 

For information, Cashlez is a pioneer Fintech Startup company that lists its shares on the Indonesian Stock Exchange in order to support the creation of an Indonesian Fintech ecosystem landscape that can compete with global players. Currently, Cashlez Worldwide Indonesia’s shares are owned by, among other things, institutional shareholders, such as Sumitomo Corporation Japan, PT Mandiri Capital etc. and individual shareholders, and the remaining 26% is held by the public.

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