K2 Venture Capital, a joint investment of Loxbit Plc and TIH Ltd, a private equity firm in Singapore, has made its first regional investment in Indonesia, leading a team to invest in a leading Indonesian fintech company in a deal worth more than 420 million baht.
Stanley Wang, managing director of K2 Venture Capital, has revealed that the company has led the latest investment round for UangTeman, a leading online microfinance lender in Indonesia.
As part of this US$12-million Series A funding round that comprises debt and equity, Draper Associates, based in Silicon Valley and set up by legendary figure Tim Draper, is also participating.
UangTeman launched in April 2015 as one of the first digital P2P lending platforms in Indonesia.
The company facilitates loans of up to 6 million rupiah (15,000 baht).