Modalku

What Modalku does

Modalku, operating under the legal entity PT Mitrausaha Indonesia Grup, is an Indonesian peer-to-peer (P2P) lending marketplace that connects small and medium enterprise (SME) borrowers with individual and institutional lenders. Founded in 2016 as the Indonesian brand of the Singapore-headquartered Funding Societies group, Modalku holds an OJK LPBBTI license (KEP-81/D.05/2019) under POJK 40/2024 and serves as one of five Southeast Asian markets operated by the parent. The platform offers four core financing products — Invoice Financing, Payable/PO Financing, Term Loan, and Modal Proyek (government tender financing) — with loan sizes from Rp 200 million to Rp 5 billion at interest rates starting from 10% per annum flat and tenors ranging from 7 days to 24 months. Since founding, Modalku has cumulatively disbursed Rp 9.04 trillion (~$575M) to 74,700+ borrowers with a TKB90 repayment success rate of 99.20% and an NPL ratio below 1%.

Modalku's technology stack runs on web and native iOS/Android applications integrating Indonesia's BI-FAST payment rails, virtual account systems, and OJK-compliant escrow accounts. The platform's proprietary TKB (Tingkat Keberhasilan Penyelenggara) framework tracks platform-level credit resolution across TKB0/30/60/90 horizons, and an AI-powered chatbot named Shane (built on Intercom) handles routine customer inquiries. Loan origination, document verification, credit assessment, and disbursement are executed end-to-end through the digital channel, supported by an institutional sales motion for larger SME borrowers and a Mitra referral partner program for commission-based distribution.

Modalku monetizes primarily through the interest spread between borrower rates (from 10% p.a. flat) and lender returns (up to 17-20% p.a.), supplemented by an upfront borrower administration fee (BAPD, ~2% p.a.), late payment penalties (0.1% per day), and early repayment penalties (2-6% of outstanding balance). The multi-channel go-to-market combines self-serve digital onboarding, dedicated SME relationship management, and the Mitra agent network. The company is part of the broader Funding Societies group, which has raised US$294M equity led by SoftBank Vision Fund 2 plus US$150M in debt lines to support Southeast Asia lending operations.

Name

Modalku

Legal name

PT Mitrausaha Indonesia Grup

Website

https://modalku.co.id

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Modalku is the Indonesian brand of Funding Societies, operating an OJK-regulated P2P lending marketplace that provides Invoice Financing, PO Financing, Term Loans, and government tender financing to Indonesian SMEs via loans of Rp 200 million to Rp 5 billion, funded by individual and institutional lenders.

Ownership category

akta.pro rank

Product category

Digital P2P Lending Platform

NAICS

Mortgage and Nonmortgage Loan Brokers (52231), Nondepository Credit Intermediation (5222)

SIC

Loan Brokers (6163), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

P2P Small Business / SME Marketplace Lending (FSAKAHAC)

Keywords

• P2P lending platform
• SME digital financing
• Invoice financing
• Peer-to-peer lending
• Online marketplace lending

Headquarters

HQ city

Kebon

HQ country

Indonesia

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Interest Spread / Margin on Loans: Modalku earns revenue by charging interest rates (starting from 10% per annum flat) on loans disbursed to SME borrowers, while paying lenders returns of up to 17-20% per annum. The spread between cost of capital (lender returns) and yield on loans constitutes the primary revenue stream.
2. Borrower Fees (Biaya Awal Penerima Dana / BAPD): Modalku charges borrowers an upfront admin fee (BAPD) ranging from approximately 2% per annum of the loan amount, collected at origination. Additional fees include late payment penalties of 0.1% per day on arrears and early repayment penalties of 2-6% of the remaining outstanding balance.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Modalku is an OJK-licensed digital P2P lending marketplace operating in Indonesia under PT Mitrausaha Indonesia Grup, part of the Funding Societies group. The platform connects SME borrowers (Penerima Dana) with individual and institutional lenders (Pemberi Dana), offering four core loan products: Invoice Financing, Payable/PO Financing, Term Loan, and Modal Proyek (Government Tender Financing). Loan sizes range from Rp 200 million to Rp 5 billion with tenors from 7 days to 24 months.

Product overview

Modalku operates as a digital lending platform for SMEs in Indonesia and Southeast Asia, offering four distinct financing products under PT Mitrausaha Indonesia Grup. The core product suite consists of Invoice Financing (for working capital backed by client invoices), Payable Financing (for purchase order funding), Term Loan (multi-purpose business credit with monthly installments), and Modal Proyek (government tender project financing). The platform connects individual and institutional lenders (Pemberi Dana) with SME borrowers (Penerima Dana) through an online P2P lending model, all regulated and supervised by Indonesia's Financial Services Authority (OJK). Modalku also facilitates funding for investors seeking returns of up to 17% per annum.

Differentiator

Problem solved

Functional benefit

Products and services

• Invoice Financing (Pinjaman Faktur Kerja)

Quantifiable outcome

• TKB90 of 99.20% — platform successfully facilitates resolution of loan repayment obligations within 90 days of due date for 99.2% of cases
• +3 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, minor and flagship.

• STACScoreTechnology or Integration · 1 January 2023Modalku partnered with STACS to leverage the ESGpedia platform for supporting ESG reporting and sustainable financing access for Indonesian SMEs. This collaboration enables Modalku to offer its borrowers ESG self-assessment tools and Green Deal badge certifications, enhancing the platform's sustainability value proposition.
• ESGpedia / ESBN Asia-Pacific Green DealcoreStrategic or Co-development Partner · 1 January 2023ESGpedia, developed by STACS, is an ESG self-assessment platform for SMEs. Modalku integrates ESGpedia to offer its SME borrowers free ESG assessments, enabling them to earn Green/Silver/Gold badges from the ESBN Asia-Pacific Green Deal program, which enhances their access to sustainable financing and visibility with investors.
• Centre for Impact Investing and Practices (CIIP)minorStrategic or Co-development Partner · 1 January 2023CIIP conducted research on financial inclusion and supply chain sustainability in Southeast Asia, featuring Modalku as a case study subject in reports including 'Financial Inclusion in Post-COVID Southeast Asia: Accelerating Impact Beyond Access' (2023) and the CIIP Supply Chain Report (2025) covering 3,500+ SMEs.
• Liberty Society and Indonesia Society of Sustainability Professionals (ISSP)minorStrategic or Co-development Partner · 1 January 2023Modalku participated in Sustainability Roundtables & Networking Events organized by Liberty Society and ISSP in Jakarta, discussing the role of sustainability practitioners in driving organizational sustainability.
• Lazada Sustainability AcademyminorGTM or Marketing Partner · 1 January 2023Modalku participated as a Financing Partner in Lazada's Sustainability Academy: Seller Accelerator Camp, providing financing solutions to support Lazada sellers in their sustainability journey.
• BRI Ventures (Sembrani Impact Accelerator)minorStrategic or Co-development Partner · 1 January 2022Modalku participated as a panelist in the Sembrani Impact Accelerator program organized by BRI Ventures, discussing sustainable finance and the importance of robust business models for long-term growth.
• AFPI (Asosiasi Fintech Pendanaan Bersama Indonesia)coreOthers · 1 January 2019Modalku is a member of AFPI, the Indonesian P2P lending fintech association. AFPI sets industry standards, provides certification programs for fintech directors and commissioners, and represents the industry in regulatory discussions with OJK. Modalku's leadership holds AFPI certifications for P2P Lending.
• OJK (Otoritas Jasa Keuangan / Indonesia Financial Services Authority)flagshipOthers · 1 January 2019OJK is Indonesia's financial services regulatory authority. Modalku is licensed and supervised by OJK as a LPBBTI (Layanan Pendanaan Bersama Berbasis Teknologi Informasi) company under POJK 40/2024. This regulatory relationship is fundamental to Modalku's legitimacy and operations.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Amartha: Indonesian P2P lending platform focused on micro and small enterprises, particularly women borrowers in rural areas. Overlaps with Modalku's MSME segment and competes for OJK-regulated retail lender capital in Indonesia.
• Funding Societies: Modalku's parent and regional brand operating the same P2P SME lending model across Singapore, Malaysia, Thailand and Vietnam. Directly comparable in product (invoice financing, term loans, PO financing), customer segment (SMEs), and revenue model (interest spread + fees).
• Validus: Singapore-based P2P lending platform for SMEs, regionally comparable to Funding Societies/Modalku across SEA. Same business model (marketplace SME lending), similar lender/borrower profile, and shared Southeast Asia footprint.
• Investree: Indonesian OJK-licensed P2P lending platform offering invoice financing, working capital loans, and SME financing — directly overlapping Modalku's invoice financing and term loan products for Indonesian SMEs.
• KoinWorks: One of Indonesia's largest P2P lending platforms for SMEs and individuals, regulated by OJK as an LPBBTI. Directly competes with Modalku on Indonesian SME borrower acquisition, lender returns, and multi-product term/invoice financing.
• Akseleran: Indonesian P2P lending fintech regulated by OJK, focused on SME working capital loans. Competes with Modalku on the same Indonesian SME borrower base and retail/institutional lender pool.
• Mekar (PT Mekar Investama Sampoerna): Indonesian P2P lending platform operating under OJK with a focus on SME and microfinance borrowers. Direct competitor for Modalku in the Indonesian MSME lending marketplace segment.
• Taralite: Indonesian OJK-regulated P2P lending platform targeting SMEs and salaried borrowers. Comparable product offering (term loans, working capital financing) and similar lender-acquisition model to Modalku.

Emerging players

• Aspire: Singapore-headquartered fintech providing SME financing and corporate cards across Southeast Asia. Partial overlap with Modalku on SME working capital products, though Aspire is broader (cards + lending) and earlier in scale.

Broad incumbents

• BRI (Bank Rakyat Indonesia): Indonesia's largest state-owned bank with the deepest MSME deposit and lending franchise. Competes with Modalku for Indonesian SME borrowers via its BRIVentures-backed digital initiatives and traditional Mikro/Kupedes lending.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/modalkuid
• YouTubeyoutube.com/channel/UCGVXAIgxMlPi_tl_5t1B9wA
• Facebookfacebook.com/modalkuid
• LinkedInlinkedin.com/company/modalku
• Instagraminstagram.com/modalkuid/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Modalku