Modalku, Indonesia

Telecomworld 2017 SME

Modalku was nominated by the Ministry of Telecommunications and Information of Indonesia to take part in the ITU Telecom World 2017 Awards Programme and represent Indonesian startups. The experience was very positive and empowering – we were able to develop new networks and friendships, while the exposure to technological innovations across the world was educational and useful. Winning the Global SME Awards was uplifting for our brand, enhancing our brand credibility with the Indonesian public as well as investors, existing and new. This award is very meaningful as it recognises companies with strong social impact and technological innovation. We have more than doubled our business within 6 months, raised a US$ 25M Series B funding led by Softbank’s early stage investing arm (SoftBank Ventures Korea), while hiring many more great people into our team. More importantly, we have been able to make a stronger impact on our societies. Our goal now is to stay focused and expand our business further to help far more small and medium enterprises in Southeast Asia receive the financing that they deserve.