TLDR:
- AwanTunai, an Indonesian FinTech startup, secures $27.5m in Series B funding to transform Indonesia’s cash economy.
- The funding round was led by Norfund, MUFG Innovation Partners, and OP FinnFund.
In a recent feat, AwanTunai, an Indonesian FinTech startup, has closed its Series B funding round with a significant $27.5m. The Jakarta-based firm, known for its innovative point-of-sale financing solutions, exceeded its initial $25m target. The funding was led by Norfund, MUFG Innovation Partners, and OP FinnFund. AwanTunai aims to revolutionize Indonesia’s traditional cash economy by offering accessible inventory purchase financing and digital tools to empower wholesalers and micro-merchants. With plans to support over $2bn of annualized inventory purchase financing, the company is on track to digitize the economy and uplift local businesses. The startup focuses on serving the general trade sector efficiently and aims to achieve profitability by the end of the year.
