Finfra raises $2.5m & announces partnership with Tyme Group
By Gloria Mathias
Finfra, the Indonesian lending infrastructure provider, has announced a partnership with Tyme Group, the multi-country digital banking group behind TymeBank in South Africa and GoTyme Bank in the Philippines.
The partnership will support Tyme Group’s expansion into the country as part of its broader Southeast Asia growth strategy following the successful launches in the Philippines and Vietnam.
The announcement follows Finfra’s recent $2.5 million funding round, led by Cento Ventures, with participation from Accion Venture Lab, Z Venture Capital, Matiss Ansviesulis (founder of Avafin), and existing investors.
Indonesia, the largest economy in Southeast Asia, boasts a vibrant SME sector that is rapidly digitalising. By the end of the year, 24 million MSMEs are expected to be online or using digital services out of the country’s total 64 million. The government aims to accelerate this transformation, targeting 30 million digitalised businesses by 2025. One of the most effective ways to meet this demand is through embedded lending, where digital platforms integrate credit products directly into their customer transactions.
Building on this momentum, Finfra’s platform allows non-financial platforms to easily integrate lending, unlocking new revenue streams and better serving their user base. Its comprehensive, API-driven infrastructure offers a full loan management system, scoring, portfolio analytics, and access to debt capital while ensuring regulatory compliance through its licensed affiliate. International lenders like Tyme can leverage Finfra’s platform to scale embedded lending solutions, such as merchant cash advances, in Indonesia.
Markus Prommik, CEO and Co-founder of Finfra shared, “Partnering with Tyme Group is a key milestone that validates our thesis and allows us to work with almost any digital platform that wants to embed lending. As more businesses embed lending services and products and lenders eye the Indonesian market, our platform’s ability to connect both sides is transformative. This collaboration, supported by our investors, puts us on the path to profitability and strengthens our mission to drive financial inclusion and expand sustainable financing options in Indonesia.”
Coen Jonker, Executive Chairman at Tyme Group, said, “Southeast Asia is a central part of Tyme Group’s growth strategy, and Indonesia has long been a goal for our Group. Partnering with Finfra allows us to tap into Indonesia’s immense SME segment by leveraging their robust embedded lending infrastructure and network within digital.”
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