Mayapada Group launches fintech firm

FINTECH - JAKARTA. Diversified conglomerate Mayapada Group is expanding its business to include finance technology (fintech) through Pohondana.id amid the fast growth of the digital economy due to the increase in smartphone users in the country.

Since it was registered at the Financial Service Authority (OJK) in August, Pohondana.id had disbursed Rp 140 billion (US$9.59 million), said its president director, Yu Ek, at its launch in Jakarta on Wednesday.

He added that the fintech company would provide Indonesian users with the service in collaboration with PT Bank Mayapada International. “We are targeting to disburse Rp 1 trillion to an estimated 20,000 customers next year.”

Pohondana.id had an office that other peer-to-peer (P2P) lending institutions do no have, said Yu, adding that the company also offered competitive interest rates.

It was also expanding its customer base to micro, small and medium enterprise (MSME) players, including farmers in eastern Indonesia, Java and other parts of the country, he said.

Pohondana.id CEO Victoria Tahir said it would also provide loans to survivors of the earthquake and tsunami that struck Palu, Central Sulawesi, and neighboring cities.

“We are now aiming to finance corn farmers in Palu. We want to help them get back on their feet,” she added.