KoinWorks Enters Centaur Phase After US$108 Mln Funding

Summary

Indonesia's fintech startup KoinWorks announced a US$108 million C funding, equivalent to Rp 1.6 trillion. This funding round was led by Telkom Group's MDI Ventures. Several previous investors also participated, such as Quona Capital, Triodos Investment Management, Saison Capital, ACV and East Ventures.

Series C funding is divided into two parts: equity worth US$43 million and a US$65 million debt capital. KoinWorks will use the funding round to develop the financial solutions offered and add employees as the company plans to hire 400 new employees globally. "We understand the dynamics of online financial services and the huge space that the future fintech industry has in today's digital landscape," KoinWorks Chairman and Co-founder Willy Arifin said on Wednesday.

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