Mapan, an Indonesia-based startup focused on eliminating barriers to financial access for the masses in the country, raised US$15 m in Series A funding.
The round was co-led by Patamar Capital and PT Astra Digital Internasional, a subsidiary of PT Astra International Tbk (Astra), with participation from Indonesian giants BRI Ventures, SMDV, Blibli, Prasetia Dwidharma, and global venture capital firms Flourish Ventures and 500 Global.
The company intends to use the funds to expand operations and its business reach.
Established in 2009 by Aldi Haryopratomo, and led by newly appointed CEO Ardelia Apti, Mapan (PT Ruma) provides more than 3 million members with the Mapan Arisan, Mapan Pulsa, and Mapan Mart services. Through the usage of Mapan’s Arisan product, lower-income groups can increase their buying power to purchase household goods such as cookware, electronics, and furniture. The firm also currently provides other products and services such as bills payment application, Mapan Pulsa, and consumer goods resale platform, Mapan Mart.
Mapan currently operates in Java, Bali, Sumatera, Nusa Tenggara, and Sulawesi, and plans to expand its operations across the rest of Indonesia.
FinSMEs
29/06/2022