Unsecured Loans Issued by TunaiKita Robot to help 140 million Indonesians

Company launches Android app, aims to lend Rp.40b by end-2017

James Chan
Jul 26, 2017 · 4 min read

Jakarta, 26 July 2017 — PT Digital Tunai Kita (TunaiKita), the first Indonesian technology company developing a ‘lending robot’ that arranges unsecured loans between peer lenders and consumer borrowers, today announced the public availability of its Android lending app on Google Play Store, with initial service coverage in the Jabodetabek region.

TunaiKita has launched a successful open beta in Google Play since 22nd May 2017 that has served over 30,000 customers. With the TunaiKita app, Customers can apply for fast and flexible loans from the convenience of their smartphone, anywhere, anytime, and enjoy an approval process as quick as 2 minutes.

The company is led by its founders and Board of Directors, James Chan and Andry Huzain, as well as its Board of Commissioners, Jahja Suryandy and George Zhi. James draws upon his 11-year track record as venture capitalist, angel investor and entrepreneur to serve as the company’s Chief Executive Officer. James is also concurrently CEO of Wecash (Southeast Asia) and Chief Strategy Officer of Wecash Group. Andry is Chief Operating Officer of TunaiKita with diverse backgrounds in his 12-year career in market-leading companies such as Detikcom, Lazada Indonesia, and MNC Group. Jahja is President Commissioner and Managing Director of Kresna Usaha Kreatif, while George is Commissioner and Group CEO of Wecash.

TunaiKita COO Andry Huzain said, “The past 6 months has been a whirlwind as our team fired on all cylinders and rose to the challenge. From designing and developing our Android app and Loan Underwriting System from scratch in a mere 13 weeks, to an ever-ready Operations team ready to serve our customers’ every enquiry and needs, James and I could not have asked to lead a better team.”

TunaiKita’s Loan Underwriting System is adapted from that used by Wecash in China, which has acquired over 100 million customers, integrated with 30-odd banks, multi-finance and peer-to-peer platforms and processed more than US$7 billion in loans over the past 3 years. Since January, the team has achieved several major milestones, such as growing its Jakarta office to 34-strong with a good mix of youth and experience from technology companies and financial institutions, and moving into its newly renovated 650-sqm office at Setiabudi Atrium. The company continues to hire aggressively across all functions while drawing up plans to expand its service coverage across other cities in Indonesia.

With this launch, TunaiKita enters its 10th week of operations in the Jabodetabek area, bringing an end to 9 weeks of public beta testing which saw strong interest and demand for its unsecured cash instalment loans from customers that hail from a wide range of backgrounds, professions and income levels. The team continues to oversee month-on-month growth on more than 30% in customers and loan book while recording healthy loan quality and second-loan customers. The company is in active conversations with top financial institutions for online lending partnerships and expects to launch other loan products and its iOS app later this year; all part of its push to lend Rp.40 billion by the end of the year.

TunaiKita CEO James Chan shared, “I have been told the annual credit gap in Indonesia is a staggering US$80 billion, so our plan to lend Rp.40 billion by end of 2017 will merely cover five-thousandths of the shortfall. Still, we need to start somewhere. I look forward to working closely with our institutional funding partners to do a lot more in the months and years ahead.”


Visit our website at http://tunaikita.com
Download our app at http://m.onelink.me/11c375b4

For more information, please contact:

James Chan, Director & CEO, TunaiKita
james@tunaikita.com

Andry Huzain, Director & COO, TunaiKita
andry@tunaikita.com


About TunaiKita
Founded in Jan 2017, PT. Digital Tunai Kita (TunaiKita) is a joint venture between Wecash Southeast Asia (Wecash SEA), JAS Kapital (JASK) and Kresna Usaha Kreatif (KUK). TunaiKita is an Indonesian technology company operating under the POJK/77 peer-to-peer licensing framework that combines first principles of finance, mobile technology, big data and machine learning for faster and better credit evaluation and loans underwriting. The company unites Wecash’s best-in-class technology platform and online loans expertise with JASK’s and KUK’s market knowledge and local know-how for financial inclusion and to enable a better living for Indonesian consumers through responsible credit. TunaiKita works closely with financial institutions to improve consumers’ online access to loans while decreasing non-performing loans by up to 70%.

About Wecash
Headquartered in Beijing and founded in 2014, Wecash has more than 600 employees across its offices in China, United States, Brazil, Singapore and Indonesia. The company has raised more than US$100 million in financing over 3 rounds, acquiring more than 80 million users in China and underwriting loans in excess of USD 7 billion since 2014.

About Kresna Usaha Kreatif
Kresna Usaha Kreatif oversees the digital, creative and e-commerce businesses of its IDX-listed parent, PT. Kresna Graha Investama Tbk (also known as “Kresna Investments”). Founded in 1999 by Michael Steven and Jahja Suryandy, and listed on the Indonesia Stock Exchange in 2002, Kresna Investments is an integrated financial service and digital technology company that offers an extensive range of financial services across its 14 branch offices in major cities throughout Indonesia, while also providing e-commerce infrastructure and enabler businesses and helping startups to grow their digital and e-commerce businesses in Indonesia.

About JAS Kapital
JAS Kapital is a technology holding company co-founded by Izak Jenie and Dian. The company provides the technology behind Mandiri E-cash, Indonesia’s leading mobile wallet, as well as LINE Pay.

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