KoinWorks Shuts Down Student Financing Service

By Editorial Team 14/04/2023
Fintech
Summary

KoinWorks has discontinued the KoinPintar, which provides student financing services. KoinWorks co-founder and CEO Benedicto Haryono revealed that it would allow the company to focus more on financing micro, small and medium enterprises, "Especially those that are sustainable and environmentally friendly," he said as quoted by Daily Social on Wednesday.

KoinPintar, operational since 2017, was discontinued at the end of 2022. The educational loan service provided financing for many higher education students with a tenure of around 3-24 months.

One thing that differentiated it from other loan products was no collateral, like a credit card or other physical asset, was needed. The debtor only had to submit the required documents, from an identity card to the salary invoice of the loan guarantor.

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