Jakarta, Gizmologi – The process of digitizing business is now easier thanks to the development of technology and third parties that help business owners. From large scale to MSMEs, there are many solution providers to choose from. One of them is AwanTunai, which recently received new equity funding.
Yes, AwanTunai is a platform that provides business solutions for wholesalers and traditional grocery traders, which can also be called warungs. Established in 2018, has now succeeded in obtaining new equity funding, provided by The International Finance Corporation (IFC) as a new investor. Its value alone reaches USD 8.5 million.
IFC itself joined as one of the many investors who participated first. These include Global Brain, Insignia Ventures, to OCBC NISP Ventura. This funding will help provide financing for the purchase of supplies to FMCG suppliers, as well as micro wholesalers. Used to fund national expansion while continuing the company’s commitment to advancing & empowering Indonesian micro-SMEs.
The trick is to provide access to affordable and fast financing. AwanTunai also cooperates with Bank Danamon, to expand financial facilities and collaborate together in the Indonesian MSME financing process.
AwanTunai will expand its services throughout Indonesia
Dino Setiawan, CEO of AwanTunai, said that his party has built a supply chain infrastructure to facilitate the digitization of traditional MSME stock purchase transactions. The data is considered effective for credit risk management purposes. At the same time, it opens up opportunities for traditional MSMEs to have access to institutional working capital from banking partners.
“We hope that CloudTunai becomes a platform that allows the entire Indonesian banking industry to reach millions of traditional MSMEs, which previously could not be served,” explained Dino in a release received by Gizmologi (12/3). Apart from Dino, this platform was also initiated by Rama Notowidigdo and Windy Natriavi.
As of July last year, AwanTunai has partnered with more than 300 supplier partners to help digitize and finance the operations of traditional wholesale stores. It also includes facilitating stalls and grocery stores, through purchasing stock at affordable prices and ordering online. Can be accessed via the mobile application, namely AwanToko.
Continuing to expand, currently AwanTunai has served more than 70 thousand micro business users, and the number of stalls will continue to grow from all major cities in Indonesia. This is also one of the reasons for the IFC to provide funding.
Give Wider Social Impact
According to Azam Khan, IFC Country Manager for Indonesia & Timor Leste, the MSME sector can be considered as the lifeblood of the Indonesian economy, providing millions of jobs and including the main source of income for women entrepreneurs. Unfortunately, its growth has been hampered by a lack of access to finance, apart from the impact of the pandemic.
“This investment will provide much-needed support for micro-retailers, while helping them modernize and grow their business,” added Azam. He continued, now AwanTunai will be better prepared to expand its business, and looks forward to a greater social impact in Indonesia.
For micro business owners, they can easily access affordable financing from CloudTunai. That is, simply by downloading the AwanToko application on your smartphone, and registering yourself through a simple process using an ID card. You can buy stock items directly online.
The Indonesian version of this article can be read in Gizmologi.ID