Finnish fund supports Indonesian fintech

The Indonesian fintech AwanTunai has gotten the support from OP Finnfund Global Impact Fund I in the form of 5 million US Dollars in equity.

OP Finnfund Global Impact Fund I is one of the first global emerging markets funds in Finland.

AwanTunai offers inventory financing, integrated online ordering, and inventory management solutions. Their customer group is merchants and wholesalers all across Indonesia. AwanTunai aims to provide affordable financing and services. They have a special focus on, as they say it, the millions of under served micro businesses that employ 90% of the country’s workforce.

OP Finnfund Global Impact Fund I is also very excited about the work of AwanTunai, and look forward to working with them:

“OP Finnfund Global Impact Fund I is excited to support AwanTunai’s growth in Indonesia where the FMCG sector has a major working capital issue that traditional financial institutions can’t solve. With this investment we aim to increase digital and financial inclusion of [MSMEs] and also promote gender equality as small retailers, often women, have been under served,” so says Kuutti Kilpeläinen, senior investment manager and head of digital infrastructure and solutions portfolio at Finnfund.

Source: The Asset