Indonesian fintech, Alami Applied sciences, has raised $20 million in fairness and debt funding in a spherical led by AC Ventures and Golden Gate.
Alami provides Shariah compliant peer-to-peer financing for micro, small, and medium-sized companies.
It claims customers can arrange accounts in lower than three minutes, and funders can select “top quality” beneficiaries.
Alami provides a return on funding fee of 16-18%, and ensures compliance with the Indonesian Nationwide Shariah Board.
The agency goals to develop quickly into healthcare, farming, logistics, and groceries. Alami believes it has already distributed IDR 310 million ($21, 963.93) since launch.
It has lofty ambitions of distributing greater than IDR 1 trillion ($71 million), with a mean return fee of 15%.
The debt financing spherical, which additionally included investor Quona Capital, arrives a 12 months after the agency closed $1.5 million in seed money.