KoinWorks Raises $108M in Series C Funding


KoinWorks, a Jakarta, Indonesia-based fintech platform, raised $108m in Series C funding.

The round was led by MDI Ventures, the corporate venture arm of Telkom Indonesia, with participation from previous equity investors such as Quona Capital, Triodos Investment Management, Saison Capital, ACV and East Ventures.

The funding, which consists of $43 million in equity and $65 million in debt capital, will be used to scale KoinWorks’ solutions and team as the company aims to hire 400 new employees globally to meet demand.

Led by Benedicto Haryono, CEO, and Willy Arifin, Co-founder, KoinWorks provides a financial solution platform that focuses on underserved and underbanked markets. It provides small to medium size businesses owners and freelancers with an account and card, credit and productivity tools. On the platform, users will find a marketplace of integrated applications such as Accounting Software, POS, e-Commerce, HRMS for SME, a Budgeting app alongside KoinWorks staple products such as working capital, invoice factoring, early wage access and treasury management. 

The company is headquartered in Jakarta with Holding in Singapore and has a Tech office in Yogyakarta, India and Vietnam. KoinWorks has over 1.5 million users.