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Modal Rakyat marks 6 years of financial milestones, collaborative ventures
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T Modal Rakyat Indonesia (Modal Rakyat) commemorates its sixth anniversary by celebrating the significant milestones it has made in advancing Indonesia's business landscape through innovative financial solutions.
Since its establishment, the peer-to-peer (P2P) lender has been instrumental in fortifying Indonesia's business ecosystem by offering inclusive financial solutions and fostering technological innovations for growth.
As it marks the 6th year of its operations, Modal Rakyat is proud to recount its notable achievements, including its unwavering commitment to meeting the credit needs of businesses through advanced financial technology (fintech). This commitment has helped facilitate customers to optimize their operations and realize the expansion of their businesses through Rp 11.9 trillion (US$746.5 million) in total loans disbursed across various sectors.
Christian Hanggra, CEO of Modal Rakyat, highlights that the company's dedication to generating added value for Indonesian businesses has had a positive impact, with over 500,000 loans disbursed to sectors including logistics and food and beverage.
Modal Rakyat's success is underscored by its impressive nonperforming loan (NPL) ratio of 98.44 percent. The fintech company has also made rigorous efforts to ensure it consistently complies with regulatory standards while sustaining economic benefits.
The company’s adoption of embedded finance further exemplifies its commitment to sustainable and inclusive financial solutions through integrated financing products.
Its strategic collaborations with industry leaders and leading financial institutions such as Bank Rakyat Indonesia, Bank Mandiri and Bank BCA Digital has contributed to strengthening Modal Rakyat’s market position and expanding its funding sources.
Marcel Limbong, Chief Business Officer of Modal Rakyat, underscores the company's dedication to being a dependable partner to local businesses. He also expresses his gratitude to the company’s stakeholders and vows to continue advancing the Indonesian economy through innovation, technology and strategic partnerships.
Modal Rakyat looks ahead to driving further growth by maintaining its unwavering commitment to technological advancements and strategic partnerships, and in doing so, continuing to generate positive impact on Indonesia's business landscape.
