A fin-tastic partnership
- To promote financial inclusion for fish farmers, 500-backed aquaculture company eFishery teamed up with JULO, a licensed Indonesian fintech company.
- Their partnership began in 2022 to provide productive funding and education to fish farmers and aquaculture business owners within the eFishery ecosystem.
- Over US$11M in financing has been disbursed to more than 6,000 fish farmers across the country as of July 2024, through eFishery’s Kabayan (Kasih, Bayar Nanti or Support Now, Pay Later) program.
- Joni, a carp farmer who has been running his fish farming business since 2012, credits eFishery’s Kabayan program for helping his farm expand from 24 to 40 ponds.
- “In the past, I struggled to secure the capital needed to grow my fish farming business. While there were a few options available, the high interest rates significantly reduced my profits. With Kabayan, I could fulfill my needs upfront, with flexible payment terms,” he shared in Bahasa Indonesian.
- Gibran Huzaifah, Co-founder & CEO of eFishery, shared that this collaboration goes beyond a business partnership, and represents a shared commitment to improving the welfare of fish farmers.
- “The aquaculture technology we develop and JULO’s financial solutions have joined forces to create a strong synergy. This allows us to offer more comprehensive services to our partners and establish an ecosystem that positively impacts all its components, while also contributing to national food security,” he explained.
- Read the full story here.
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