{"id":5243,"date":"2024-08-09T00:00:00","date_gmt":"2024-08-08T16:00:00","guid":{"rendered":"https:\/\/dailymarkup.com\/?p=5243"},"modified":"2024-08-08T16:14:03","modified_gmt":"2024-08-08T08:14:03","slug":"daily-markup-1048-djoin-raises-seed-funding-to-help-microfinance-institutions-serve-unbanked-indonesians-in-rural-and-remote-areas","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=5243","title":{"rendered":"Daily Markup #1048: Djoin raises seed funding to help microfinance institutions serve unbanked Indonesians in rural and remote areas"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfeEknrWfiERlsJEYVOR7JfAnkY8JZigbLHzg7CwkeB27n4WOBgxrd9Ld9HVkCFHWU7I8RleJPV4ODv6Tmlu1Hj_TS_3oqeaTLuPtxcwg2aZUZMyrndciaY3QoEfokU89qF2NLGYT-y6OZfwJBNkFMjaqxh?key=byMuc2Apb0aNZOH641OBAA\" alt=\"\"\/><figcaption class=\"wp-element-caption\">Photo credit: Djoin<\/figcaption><\/figure>\n\n\n\n<p><strong>Djoining hands<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>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\u2019s population.<\/li>\n\n\n\n<li>Bali-based <a href=\"https:\/\/djoin.id\/\">Djoin<\/a> 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.<\/li>\n\n\n\n<li>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.<\/li>\n\n\n\n<li>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.<\/li>\n\n\n\n<li>Co-founded by <a href=\"https:\/\/www.linkedin.com\/in\/indra-adhi-suputra-64137a1b0\/\">Wayan Indra Adhi Suputra<\/a>, <a href=\"https:\/\/www.linkedin.com\/in\/farzikha-soerono-065b2144\/\">Farzikha Soerono<\/a>, and <a href=\"https:\/\/www.linkedin.com\/in\/i-putu-takumi-wijaya\/\">I Putu Takumi Wijaya<\/a>, Djoin provides an end-to-end banking platform to meet the needs of the underbanked and unbanked. Their financial services include:\n<ul class=\"wp-block-list\">\n<li>Banking SaaS to help MFIs and their members deposit, withdraw, receive, send, and monitor transactions<\/li>\n\n\n\n<li>A credit decisioning engine to enhance MFIs\u2019 credit underwriting processes<\/li>\n\n\n\n<li>A loan-channeling product to bridge lenders, MFIs, and members<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The solution will eventually allow MFIs to finance underbanked communities at lower interest rates, fostering sustainable and inclusive economic growth for the nation.<\/li>\n\n\n\n<li>CEO Indra Adhi Suputra shared, \u201cBy empowering microfinance institutions with homegrown technology that enhances their financial sophistication, we are building stronger and more resilient communities in Indonesia.\u201d<\/li>\n\n\n\n<li>Congratulations to the Djoin team!<\/li>\n\n\n\n<li>Read the full story on <a href=\"https:\/\/bit.ly\/4fBSiXJ\">e27<\/a>.<\/li>\n<\/ul>\n\n\n\n<p><strong>Other stories you may have missed:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/bit.ly\/dailymarkup1044\">Pandai<\/a> CEO Khairul Anwar shares lessons from the startup\u2019s journey, empowering students to achieve their academic goals<\/li>\n\n\n\n<li><a href=\"https:\/\/bit.ly\/dailymarkup1045\">CARSOME<\/a> on track to hit US$20M EBITDA this year; focused on growing profitably and gearing up for future IPO<\/li>\n\n\n\n<li><a href=\"https:\/\/bit.ly\/dailymarkup1046\">Dagangan<\/a>\u2019s \u2018spider web\u2019 captures the demand of rural Indonesia, multinational companies, and homegrown brands<\/li>\n\n\n\n<li><a href=\"https:\/\/bit.ly\/dailymarkup1047\">Vircle<\/a> pilots cashless payments in public schools to nurture smart money management habits and financial literacy amongst students<\/li>\n\n\n\n<li>GXS Bank, a digital bank backed by <a href=\"https:\/\/bloom.bg\/4ccEG2s\">Grab<\/a>, plans to swing to a profit by March 2027 in part by doubling their loan book every six months<\/li>\n\n\n\n<li><a href=\"https:\/\/bit.ly\/4chZ6a4\">Carousell<\/a> and Lazada launched an online iPhone trade-in feature in Singapore for purchases at LazMall Apple authorized resellers<\/li>\n\n\n\n<li><a href=\"https:\/\/bit.ly\/3SGSCuq\">Carousell<\/a> was awarded the Company of Good by the National Volunteer &amp; Philanthropy Centre (NVPC)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Djoining hands Other stories you may have missed:<\/p>\n","protected":false},"author":5,"featured_media":5244,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322,319],"tags":[608],"class_list":["post-5243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","category-weekly-roundup","tag-djoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - 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