Finfra\u2019s team (left to right): Reinis Simanovskis, Dionysius Yogadhitya, Markus Prommik, Hilda Indriana, Varun Rathi<\/p>\n<\/div>\n

Prommik said that Finfra\u2019s differentiator from other embedded finance platforms in payments, data and infrastructure is that they do not offer credit, even though it is the most in-demand financial service. Instead of seeing them as competitors, Finfra views those platforms as potential allies.<\/p>\n

One thing that Finfra believes will bolster its growth is the Indonesian Financial Services Authority (OJK) to reach financial inclusion targets of 90% by 2024, up from 75% in 2019. Despite growth in online platforms in Indonesia, many people and small businesses still lack access to credit through traditional means, like banks and other financial institutions, and instead rely on alternatives, including embedded finance.<\/p>\n

In a statement, Patricia Sosrodjojo, general partner at Seedstars International Ventures, said, \u201cWe\u2019ve seen similar initiatives succeed in emerging markets where MSMEs face significant hurdles to accessing capital. Finfra\u2019s approach not only aligns with national economic development goals but is well-positioned to take on the challenges of this rapidly growing market.\u201d<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n