Djoining hands

• Over 50% of Indonesians are underbanked or unbanked, and they rely heavily on microfinance institutions (MFIs), especially credit unions, for financial services. Unlike conventional banks that serve customers in major cities, credit unions reach rural and remote areas, serving half of the nation’s population.
• Bali-based Djoin just raised seed funding from 500 Global to simplify MFIs lending processes in Indonesia. The team is helping to optimize loan management, reduce non-performing loans, and promote financial stability for MFIs.
• Djoin shared that they facilitated over US$35M in loan disbursements in 2023, onboarded over 80 MFI clients across Bali, East Java, and East Nusa Tenggaraand, and helped reduce their average non-performing loans (NPL) by 52% from 2022 to 2023.
• The fresh capital will be used to accelerate their go-to-market strategy, scale the team, expand its loan platform capabilities, and expand in Indonesia.
• Co-founded by Wayan Indra Adhi Suputra, Farzikha Soerono, and I Putu Takumi Wijaya, Djoin provides an end-to-end banking platform to meet the needs of the underbanked and unbanked. Their financial services include:
  • Banking SaaS to help MFIs and their members deposit, withdraw, receive, send, and monitor transactions
  • A credit decisioning engine to enhance MFIs’ credit underwriting processes
  • A loan-channeling product to bridge lenders, MFIs, and members
• The solution will eventually allow MFIs to finance underbanked communities at lower interest rates, fostering sustainable and inclusive economic growth for the nation.
• CEO Indra Adhi Suputra shared, “By empowering microfinance institutions with homegrown technology that enhances their financial sophistication, we are building stronger and more resilient communities in Indonesia.”
• Congratulations to the Djoin team!
• Read the full story on e27.

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