Investree and Startup eFishery Distribute IDR 30 Billion for Fish Farmers
The peer to peer lending fintech platform Investree has agreed to collaborate with a fisheries startup company; eFishery. This cooperation is to distribute financing worth of IDR 30 billion to fish cultivators (or farmers) in Indonesia. Investree will support the Kasih Bayar Nanti (Kabayan) program in the first phase of this collaboration, as a major component of eFisheryFund.
eFisheryFund is a digital platform with financing facilities offered by eFishery in collaboration with financial services, in this case, Investree, and is specially designed for farmers. This service is an installment program that can be used by partners/cultivators to obtain eFishery products such as auto-feeders and fish feed.
“Considering that Investree’s largest loan portfolio has been in the creative industry, by partnering with eFishery especially eFisheryFund, we hope to empower more SMEs engaged in fisheries or aquaculture,” said Investree Co-Founder & CEO Adrian Gunadi in a written statement, Friday (23/10/2020).
Efisheryfund is to Help Fish Farmers Get Access to Finance
Meanwhile, the CEO and Co-Founder of eFishery, Gibran Huzaifah, revealed that farmers often face difficulties in obtaining access to finance. This is because most financial institutions are reluctant to provide loans for non-formal sector workers such as fish cultivators.
“This is where eFisheryFund is present, connecting farmers directly with financial institutions so that they can develop financially. This collaboration with Investree is expected to be able to multiply the impact we have on farmers,” explained Gibran.
This loan will be distributed to eFishery’s partners including cultivators, agents and business-to-business (B2B) consumers. Farmers can apply for loans through the eFisheryFund digital platform.
Then, the eFishery Team will assess and determine whether they meet the requirements and criteria for obtaining financing. The results of this assessment are then submitted to Investree for re-verification according to the Investree credit-scoring system. They see data from the eFishery IoT device and cross-check the real data in the field.
If the cultivator is declared to have passed the verification process by Investree, Investree will distribute the financing which is then distributed in eFishery’s products. This cooperation provides two types of financing schemes, namely conventional and sharia, so that borrowers can freely choose according to their preferences.
Investree Has Provided a Loan Facility Worth IDR 7 Trillion Until September 2020
Peer to peer lending fintech operator PT Investree Radhika Jaya recorded a total loan facility of IDR 7 trillion as of September 2020. The value of loans disbursed was IDR 5 trillion with an average return rate of 16.9% per year.
To spur performance, Investree launched the Grow Fa5ter campaign, which means the spirit to grow faster and with quality. Also in growing stakeholders, especially borrowers and lenders as well as the wider community through digitalization efforts and real financial literacy.
“Under the Grow Fa5ter umbrella campaign, we are committed to improving Investree’s product line and services as well as activating various beneficial promotions and activities so that lenders, borrowers, partners, and all parties can grow faster and be able to realize their financial goals,” said the Co-Founder. & CEO of Investree, Adrian Gunadi in a written statement on Friday (16/10).
In this campaign, Investree conducted several promos, starting from cashback for borrowers who are members of the Peng Procurement.com, Bukalapak, and Mbiz ecosystems. Also discounted marketplace fees for borrowers in the Midtrans ecosystem. The three big names are Investree partners.
In addition, there is also a promotion for lenders by providing cashback up to IDR 5 million. Then there is also a maximum cashback of IDR 50 million from the total lender funding. Not only that, there are e-vouchers from well-known online shopping sites worth IDR 50,000 for female lenders.