Indonesian online lending firm Investree is in the process of securing approximately 220 million euros (US$230.8 million) in series D funding through a joint venture (JV) established in Doha.
The JV, formed with JTA International Holding as the leading investor, also involves participation from existing investor SBI Holding. The new entity, named JTA Investree Doha Consultancy, will serve as Investree’s Middle Eastern base to provide digital lending services, including an AI-based credit scoring service, to small and medium-sized enterprises (SMEs).
This funding round would increase Investree’s disclosed funding to nearly US$280 million, although it’s unclear if the full amount has been received.
Founded in 2015, Investree offers various lending products for SMEs and claims to have disbursed approximately US$916.3 million in loans as of this month.
Additionally, the company acquired an 18.4% minority stake in Amar Bank, an Indonesian commercial and digital bank, in the previous year.
Investree’s last funding round was a US$10 million raise from ResponsAbility Investments, and the company operates not only in Indonesia but also in Thailand and the Philippines.
(Source: Deepti Sri | Tech in Asia | Deal Street Asia)
