Livik.net – After officially obtaining a permit from the Financial Services Authority (OJK) as a Fintek P2P Lending Provider for the Agriculture Sector, TaniFund, a peer-to-peer lending platform, has entered a new phase. in providing access to capital for farmers and MSMEs across the country.
As explained by Natalia Rialucky Marsudi, Chief Strategy Officer of TaniHub Group,
TaniFund will expand its expansion outside Java, make product innovations, and strengthen monitoring through advanced internal credit scoring.
It is said that the OJK license has further strengthened TaniFund to be able to channel new funding of Rp700 billion in the next few years. “Our hope at TaniFund is that we want to create a wider social impact by providing access to financial inclusion and capital for farmers and local MSME entrepreneurs through our ecosystem,” he said.
Not only that, continued Ria, with the OJK license, TaniFund believes it can invite more new lenders and encourage old lenders to increase their funding.
The reason is that the OJK license will make new and old lenders more stable with TaniFund’s readiness in curating its funding projects. Education regarding risk understanding, he said, is still routinely given to lenders in accordance with the recommendations of the OJK and the Indonesian Joint Funding Fintech Association (AFPI).
“Our goal through this license is to keep our TKB90 at 100%. We need to emphasize that based on OJK regulations, lenders must still be aware that there are still funding risks that they will bear, for example the risk of late payment or default. To mitigate this risk, TaniFund has an advanced credit scoring system, a reliable agronomist, contracts with credit insurance, and fulfills various directives from the regulator,” he said.
Meanwhile, Pamitra Wineka, CEO of TaniHub Group, said that the OJK license is fuel for TaniFund to continue to create social impact through providing access to capital and guidance to farmers.
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“As part of the TaniHub Group, in the future, TaniFund is expected to increase its contribution to the business, in accordance with our strategy in the next few years to strengthen the upstream side so that it will have an impact on the Indonesian agricultural sector,” said Pamitra.
Since its establishment in 2017 until now, TaniFund has distributed funding from the public amounting to Rp324.3 billion to more than 4,000 borrowers. Along with the growing public trust in TaniFund, to date the total lenders have reached more than 10,000, consisting of individual and institutional lenders.