Indonesia-based FinTech platform Finku has reportedly raised $2.8m in its seed funding round.
The capital injection was co-led by B-Capital Group, Global Founders Capital and Trihill Capital, according to a report from The Paypers. Other commitments came from Golden Gate Ventures, Goodwater Capital, Alto Partners, as well as the founders of Bukuwarung and Xendit.
This capital will help Finku expand across Indonesia, with the ambition to be the country’s first responsible lender by expanding to offer responsible credit. It also plans to combine low-interest rates, transparent fees and suite of personal finance tools so users can improve their finance management, it said.
Additionally, Finku is looking to release a new credit solution that will let users access credit facilities for their daily needs.
Founded in 2021, Finku is a personal finance mobile app designed so consumers can better manage their finances through financial tools. Its goal is to remove financial illiteracy in Indonesia.
Some of the features include automated financial transaction recording, budgeting tools, insights dashboard, bill payments, cashback and rewards, and more.
Fellow Indonesian FinTech company Qoala recently secured $65m in its Series B funding round. The company distributes retail insurance products to consumers for bike, car, home and health through its omni-channel platform.
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