Singaporean Fintech Teams Up with Indonesian Bank for Regional Partnership

Mar 2024

Singaporean fintech Helicap Pte Ltd and PT Bank Danamon Indonesia Tbk (Danamon) recently unveiled a strategic alliance geared towards bolstering the fintech and alternative lending sector in Indonesia. This partnership seeks to establish the two entities as a comprehensive source of non-dilutive growth capital, catering to fintech, alternative lending enterprises and SMEs across various sectors such as supply chain, leasing, and e-commerce, among others.

The partnership between Danamon and Helicap combines Danamon’s extensive banking network, including deep banking expertise in Indonesia, thanks to Helicap’s track record of managing a diversified debt portfolio for six years without defaults, alongside its proprietary data analytics capabilities.

This collaboration aims to provide valuable market insights, industry expertise, robust risk assessment, and portfolio management capabilities. Beyond capital provision, the partnership aims to establish a funding ecosystem catering to the debt financing needs of non-bank firms at different stages of growth, from seed funding to IPO, fostering an environment conducive to sustainable development.

They plan to establish a robust transaction flow and co-lending opportunities in Indonesia, amplifying lending capacities. Technology integration, including Danamon Cash Connect, will streamline processes for improved risk management. Together, they aim to reshape Southeast Asia’s financial landscape, empowering fintech and alternative lending for inclusive growth.

(Source: Helicap)

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