Open Innovation Fund No. 3 Invests in Digital Alpha Who Offers Small Loans on P2P Lending Platform

26/07/2019

Accelerating Fintech Business in Southeast Asia

KDDI Corporation

July 18,2019

Through KDDI Open Innovation Fund No. 3 (operated by Global Brain Corporation), a fund that aims to invest in promising startups, KDDI has invested in Digital Alpha Group Pte. Ltd. (headquartered in Singapore, hereinafter, Digital Alpha), who offers small loans in Indonesia on an online peer-to-peer (hereinafter, P2P) lending platform.

Digital Alpha operates UangTeman, an online P2P lending platform in Indonesia, a country that is experiencing remarkable economic growth. Digital Alpha leverages its unique technology for UangTeman, performing credit scoring from big data and offering small unsecured loans to individuals and small to medium-sized companies. Users can apply for a loan anywhere, anytime, from a designated smartphone app or website.

With a population of 260 million people, the largest in ASEAN, Indonesias middle income consumers are increasing as its economy grows. Meanwhile the percentages of bank account holders and credit card holders in the country remain low at 48% [

1] and 2% [

1] respectively as of 2017 boosting expectations for new financial services (Fintech) based on new technology.

Notably the P2P lending market is beginning to grow, with over 100 operators registered with the Financial Services Authority (hereinafter, OJK) yet getting an official business license from OJK is said to require advanced technology, sufficient risk management and experienced personnel, and no licenses have been granted since 2017. As Digital Alpha obtained an official business license in May 2019, it is expected to continue contributing to the development of Indonesias financial market as one of only seven licensed operators, as of July 2019.

Promoting theintegration of telecommunications and life design, KDDI will invest not only in domestic enterprises but in overseas startups with promising prospects, to co-create business.

(For your reference) Overview of Digital Alpha

(1)

Company: Digital Alpha Group Private Limited

(2)

Established: August 2014

(3)

Business: Offers small unsecured loans in Indonesia through a P2P lending platform UangTeman

[1]

Source:

The Global Findex Database 2017, World Bank,

Bank account holder rate, credit card holder rate (4.4MB)

The information contained in the news releases is current at the time of publication. Products, service fees,service content and specifications, contact information, and other details are subject to change without notice.

LINK:	https://news.kddi.com/kddi/corporate/english/newsrelease/2019/07/18/39...
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Open Innovation Fund No. 3 Invests in Digital Alpha Who Offers Small Loans on P2P Lending Platform

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