Investree, an Indonesian B2B marketplace lending platform for Micro, Small and Medium Enterprises (MSMEs), is set to acquire an 18.4% minority stake in PT Bank Amar Indonesia, a licensed commercial bank with the backing of Singaporean conglomerate Tolaram.
By acquiring a significant minority stake in Amar Bank, Investree it believes that its efforts to increase financial inclusion can be accelerated.
With this move, Investree intends to develop financing products and offer broader digital business solutions to elevate the operational level of MSMEs across the country.
Adrian Gunadi, Co-founder and CEO of Investree said,
“This initiative is part of creating a cohesive cross-collaboration between fintech and banking as well as jointly innovating products, providing digital financing services and more integrated business solutions, and also expanding the reach to prospective debtors/MSMEs in cities that are become part of the Amar Bank network.
In addition, this acquisition will further enhance Investree’s strong ecosystem, enabling increased strategic potential to empower MSMEs across the country.
Vishal Tulsian, President Director of Amar Bank said,
“This transaction is a significant step forward for Amar Bank. Investree’s involvement and expertise will allow us to introduce new and better products for MSMEs in Indonesia, along with our flagship digital loan product, Tunaiku and mobile-only bank, Smiles. Together, we will deliver digital banking that makes an impact.”