Indonesian fintech start-up Modalku has won the Global SME Excellence Award from ITU Telecom, a UN specialized agency for information and communication technologies.
Modalku, which focuses on the service of peer-to-peer lending (P2P), is the only Indonesian start-up to have ever won the award. It is presented to startups that provide the most innovative technological solutions for problems in the society.
Every year, the panel of ITU judges consisting of industry experts choose one start-up that best represents this award.
“In 2017, fintech peer-to-peer (P2P) lending Modalku beat hundreds of other applicants from all over the world,” said Iwan Kurniawan, Modalku Co-Founder and COO in an official statement, on Friday, as quoted by kompas.com.
Through its service, Modalku offers a digital platform that brings together borrowers – from mostly small and medium enterprises (SMEs) – seeking capital injection, and lenders aiming for competitive returns.
The platform offers numerous advantages over banking services. For example, its flexibility allows it to channel capital to virtually anyone in any amount, effectively and transparently, at low-interest rates.
The start-up company is Indonesia’s biggest P2P lending platform, facilitating the lending of around Rp. 320 billion of investment to 690 SMEs in Indonesia.
Featured image by Kompas.