P2P lending startup GandengTangan obtains business license from OJK | Bahasa

Indonesia.12 Oct 2021.3 min read

GandengTangan obtains business license from OJK, prepares P2P lending innovations to help MSMEs develop their businesses

Indonesia, 12 Oct 2021 - Crowdlending pioneer GandengTangan obtained a business license from the Financial Services Authority (OJK) in September 2021.

OJK decree number KEP-89/D.05/2021 states that PT Kreasi Anak Indonesia, the parent company of GandengTangan, has obtained a business license for providing information technology-based lending and borrowing services. The decree was signed by OJK Director of Financial Technology Regulation, Licensing and Supervision Tris Yulianta.

GandengTangan CEO Jezzie Setiawan said that after obtaining the business license, GandengTangan has been able to increase loan channeling by twelvefold since its rebound from the impact of the pandemic last year.

“This year, in terms of business, we experience very significant growth. Of course, this is achieved through contribution and support from various parties,” said Jezzie.

As of September 2021, GandengTangan has assisted 2,193 MSME players in 10 provinces. Currently, the total amount of loan from 1,327 lenders channeled through the platform stands at Rp34.6 billion. GandengTangan is delighted with the accomplishment because it signifies its success in connecting the business spirit of Indonesian citizens.

Obtaining a business license from the OJK created momentum for GandengTangan to strengthen its mission to embrace MSMEs to rise above the pandemic and develop their businesses.

"We hope this license can be the first step to opening up opportunities for wider collaboration with other institutions to reach underserved MSME players," Jezzie said.

As a peer-to-peer lending platform, GandengTangan has played a role in improving the welfare of middle-lower income people since 2015. GandengTangan connects run micro-enterprises with lenders who want to make a social impact.

GandengTangan Prepares P2P Lending Innovations for Social Impacts

Agus Wicaksono, Director of PT Bahana Artha Ventura, one of GandengTangan's investors, said the business license from the OJK solidified GandengTangan's plan to expand its network.

"The business license from the OJK was the first step of Bahana Artha Ventura’s (BAV) plan to synergize its network across Indonesia. Digitizing the financing process through GandengTangan will expand the reach of MSME services across Indonesia while taking into account the accompanying risk factors," said Agus Wicaksono.

For the next year, GandengTangan will increase cooperation with local financial institutions and boost technological innovation to facilitate GandengTangan users.

Even now, GandengTangan is collaborating with a state-owned enterprise to provide financing services to MSMEs that have not been able to access bank financing.

With the license, GandengTangan, a winner of DBS Foundation Social Enterprise Grant Program 2018, expects to present more social impact initiatives, especially as a platform that engages directly with MSMEs.

The Social Enterprise Grant Program is an annual grant program run by Bank DBS Indonesia through DBS Foundation. The program is a tangible manifestation of one of the pillars of Bank DBS Indonesia's sustainability, namely Creating Social Impact to support the growth and development of social entrepreneurs in Indonesia. As a purpose-driven bank, Bank DBS Indonesia continues to innovate to become a bank that prioritizes a balance between economic, social and environmental aspects.

"We are happy every time we receive news from MSME borrowers whose businesses are now starting to grow slowly. The good news encourages us to continue to innovate so that we can help more MSMEs," said Jezzie Setiawan.




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