Pintek raises US$7M Series A to provide financial services to Indonesia’s education community

Pintek (PT Pinduit Teknologi Indonesia), a provider of financial services for the education community, has secured US$7 million in a Series A funding round via its holding company Socap Holding.

The round saw the participation of new investors, including Kaizenvest, Heritas Capital, Blue7, and Earlsfield Capital. Existing stakeholders Finch Capital, Global Founder Capital, Accion Venture Lab, Strive, and Fox Ventures also joined.

With this new funding, Pintek plans to hire new people to accelerate its product development, enhance the platform, and broaden its commercial reach.

This round comes less than a year after Pintek bagged a US$21 million debt facility from Accial Capital, a US-based impact-focused private debt investor.

Also read: Pintek closes US$21M from debt investor Accial to accelerate educational financing in Indonesia

The company aims to improve access to education and livelihoods of unbanked/underbanked MSMEs in Indonesia. Within the next five years, Pintek sets the goal to impact 10 million customers, maximising its contribution to the country’s education ecosystem. “We want to be one of the key enablers to accelerating the penetration of education technology and embedded financial services products for inclusive and high-quality education in Indonesia,” said Ioann Fainsilber, CEO at Socap and co-founder at Pintek.

Founded in 2018, Pintek provides innovative financial services to students, parents, education institutions, and education suppliers. To date, the startup claims to have supported more than 2,750 education institutions and 100 education MSMEs to reach more than 650,000 students spreading across 29 provinces in Indonesia.

“Pintek’s tech-enabled ecosystem-funding approach enables credit data insight and superior lending decisions, thereby driving a virtuous cycle of growth and impact resulting in enhanced access to education in Indonesia,” said Charis Goh, director at Heritas Capital.

In addition, Pintek and its affiliates also offer financial education content to a community of 1,350,000 unique monthly visitors, states the startup.

Also read: Pintek secures investment to help students, education institutions access loans in Indonesia

According to government data of March 2020, Indonesians had to grapple with school closures affecting more than 60 million students. Since then, only 39 per cent of schools have reopened with limited operations. This paves the way for innovative players to support the education sector to switch to online learning with reliable and easy-to-access financing sources.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

Image Credit: Pintek

The post Pintek raises US$7M Series A to provide financial services to Indonesia’s education community appeared first on e27.

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Pintek (PT Pinduit Teknologi Indonesia), a provider of financial services for the education community, has secured US$7 million in a Series A funding round via its holding company Socap Holding.

The round saw the participation of new investors, including Kaizenvest, Heritas Capital, Blue7, and Earlsfield Capital. Existing stakeholders Finch Capital, Global Founder Capital, Accion Venture Lab, Strive, and Fox Ventures also joined.

With this new funding, Pintek plans to hire new people to accelerate its product development, enhance the platform, and broaden its commercial reach.

This round comes less than a year after Pintek bagged a US$21 million debt facility from Accial Capital, a US-based impact-focused private debt investor.

Also read: Pintek closes US$21M from debt investor Accial to accelerate educational financing in Indonesia

The company aims to improve access to education and livelihoods of unbanked/underbanked MSMEs in Indonesia. Within the next five years, Pintek sets the goal to impact 10 million customers, maximising its contribution to the country’s education ecosystem. “We want to be one of the key enablers to accelerating the penetration of education technology and embedded financial services products for inclusive and high-quality education in Indonesia,” said Ioann Fainsilber, CEO at Socap and co-founder at Pintek.

Founded in 2018, Pintek provides innovative financial services to students, parents, education institutions, and education suppliers. To date, the startup claims to have supported more than 2,750 education institutions and 100 education MSMEs to reach more than 650,000 students spreading across 29 provinces in Indonesia.

“Pintek’s tech-enabled ecosystem-funding approach enables credit data insight and superior lending decisions, thereby driving a virtuous cycle of growth and impact resulting in enhanced access to education in Indonesia,” said Charis Goh, director at Heritas Capital.

In addition, Pintek and its affiliates also offer financial education content to a community of 1,350,000 unique monthly visitors, states the startup.

Also read: Pintek secures investment to help students, education institutions access loans in Indonesia

According to government data of March 2020, Indonesians had to grapple with school closures affecting more than 60 million students. Since then, only 39 per cent of schools have reopened with limited operations. This paves the way for innovative players to support the education sector to switch to online learning with reliable and easy-to-access financing sources.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

Image Credit: Pintek

The post Pintek raises US$7M Series A to provide financial services to Indonesia’s education community appeared first on e27.

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