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Established for three years, Restock.id successfully disbursed IDR 1 Trillion for MSMEs
Since its establishment in 2019, Restock.id's peer to peer (P2P) lending platform has been providing funding solutions for micro, small and medium enterprises (MSMEs).
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Tiar Karbala (left) - CEO Restock.id and M. Audi Vialdo (right) - CRO Restock.id.
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ince its establishment in 2019, Restock.id's peer to peer (P2P) lending platform has been providing funding solutions for micro, small and medium enterprises (MSMEs), starting with financing the production of goods (inventory financing, product assets or business inventory are used as collateral to get financing from funders) and assisting warehousing, to the fulfillment system. This sets Restock.id as Indonesia’s first P2P lending platform that facilitates MSME financing by using assets and inventory as collateral.
In addition to fashion retail and local brands, companies that are also collaborating with Restock.id are coming from the healthcare sector, as well as several fast-moving consumer goods and commodity businesses.
In the first quarter of 2022, Restock.id managed and successfully channeled Rp 1 trillion (US$69.02 million) in funding to MSMEs/borrowers and the payment success rate, measured by payments within 90 days of the due date (TKB90), of 100 percent. “This business started from our small office, with capital from the founders of the company and two employees. But we believe that our idea has great potential. Evidently, in the first quarter of 2022, we managed to reach the disbursement target of Rp 1 trillion," explained Restock.id CEO Tiar Nabilla Karbala.
Rp 1 trillion, according to Tiar, is not just a number on paper but has a deeper sentimental value for Tiar and the rest of the Restock.id team. "We are very happy because we can inspire young entrepreneurs to grow their businesses," Tiar continued. He also mentioned that Restock.id has contributed to advancing Indonesian MSMEs with the hashtag #LocalBrandMovement, including ensuring customers look their best during Lebaran, Christmas and New Year, by settling product availability at their favorite online stores. "We are also actively preparing borrowers to have inventory stock in the warehouse in preparation for the biggest event in 2022, Idul Fitri season," said Tiar.
Restock.id's mission in 2022 is to "grow big together with our partners". With the motto "Grow Together", Restock.id believes that by encouraging young entrepreneurs to develop, and by providing the right funding solutions, they can develop modern MSMEs to their maximum potential. Restock.id also continues to map its long-term vision. "This year, Restock.id continues to focus on its strategic plan, equity fundraising and adding strategic partners with banks, multi-finance, rural banks and other financial institutions," Tiar explained. In nominal terms, Restock.id's funding target in December 2022 is Rp 1.4 trillion with an accumulative distribution target of Rp 2.1 trillion.
Restock.id’s journey, said Tiar, cannot be separated from the spirit of Restock.id teamwork, but also the full credibility given to the company by shareholders, borrowers and funders, financial institutions, regulators, associations and vendors. Tiar added, "We will always hold this credibility highly, and will make Restock.id the most suitable fintech [platform] for modern MSMEs, to be an accelerator for local brands in Indonesia".
