Receiving New Funding, Amartha Focuses on Empowering Indonesian Women

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Undercover.co.id – The growth of fintech in Indonesia continues to show a positive direction. The players in this industry are increasingly determined in directing where the business will go. Amartha is one of the fintechs that is increasingly active in the mission of increasing financial inclusion in Indonesia, especially for women.

To that end, Amartha announced a partnership with Lendable Inc ,. This company from the United States provides funding of US $ 50 million (Rp 696 billion) per February 2021 to Amartha. Lendable is listed as an capital distribution company that focuses on women globally.

“The role of women in the micro economy is very large. We have seen this sector of the economy driven largely by women from their homes. Through the new funding, Amartha is targeting a greater coverage of access to capital and entrepreneurship education for women, “explained Andi Taufan Garuda Putra, Founder and CEO of Amartha.

Since 2020, Amartha has successfully helped increase the income of its partners from two to seven times a year. With this funding, Amartha introduced the 2X Challenge Indonesia program and the #SaatnyaPerempuan campaign to build the enthusiasm of women in Indonesia to improve their business. In this context, Amartha seeks to increase the role of women in post-pandemic economic recovery.

Described by Hani Ibrahim, Chief Investment Officer of Lendable, 2X Challenge: Financing For Women is a multilateral initiative launched at the G7 Charlevoix Summit. This program aims to disseminate and mobilize working capital to empower women as entrepreneurs, leaders, employees and consumers. “From the beginning, this program was aimed at increasing women’s economic participation globally. Amartha has a role to build this in Indonesia, “he added.

Judging from Amartha’s data, the potential for women in Indonesia to develop their economic participation is very large. It is estimated that there are 22 million women micro entrepreneurs who do not have access to banking and financial institutions. This means that the gap is quite high and causes many women entrepreneurs to find it difficult to increase the scale of their business.

To provide a solution to this problem, Amartha and Lendable through the 2X Challenge will use the concept of Gender Lens Investing or funding based on gender equality. Thus there is a focus that targets specific communities to build social welfare and economic equity.

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