Accial Capital Invests in Pintek to Support the Indonesian Education Ecosystem
January 11th, 2021, Jakarta, Indonesia — Pintek, a fintech platform that provides credit to students and their families, educational institutions, and their suppliers, raised a $21 million debt facility from Accial Capital, a US-based impact-focused private debt investor. With this debt facility, both Pintek and Accial Capital hope to further accelerate the penetration of educational financing and contribute to a more accessible and inclusive educational ecosystem in Indonesia.
According to the Indonesian president, Joko Widodo, higher education is a key pillar in nurturing human resource development and a competitive young generation. To support this vision, Pintek provides financial solutions for families to access all levels of education and vocational training through installment loans. In addition, Pintek provides financial business solutions for educational institutions and their suppliers, supporting their investments in infrastructure and technological tools.
Ioann Fainsilber, SoCap CEO & Pintek Co-founder, said: “Being in a situation full of challenges, education institutions need to implement technologies to support the adoption of distance learning for their students. However, in part due to a lack of financial resources, the implementation of technology across the sector has been challenging. We build products to help at this crucial juncture the Indonesian education ecosystem.”
Tommy Yuwono, Co-founder and President Director Pintek added, “This is an opportunity for us to fully support the Ministry of Education and Culture’s key program regarding the adoption of school digitization as an effort to prepare human resources to face the industry 4.0 era. This allows us to provide smart financing solutions for educational institutions to maximize technology in teaching and learning activities, as well as achieving education 4.0.”
Michael Shum, Chief Investment Officer at Accial Capital, said: “We are excited to partner with Pintek’s team who has built the leading education financing platform for the Indonesian education ecosystem. As a global impact-focused private debt investor, we have witnessed in other countries how crucial building a solid education system is to the sound economic development of a country. We are thrilled to support Indonesia’s education system through our partnership with Pintek.”
In December 2020, Pintek announced that it had received new funding in a round led by Finch Capital, with participation from existing investor Accion Venture Lab, bringing the total amount of equity raised by Pintek to US $5 million.
About Accial Capital
Accial Capital is an impact-focused, tech-enabled investor in small business and consumer loan portfolios in Latin America and Southeast Asia. Accial Capital combines data, technology, capital, and credit expertise to contribute to a world of widespread credit access and financial health. Learn more accialcapital.com
Pintek is a financial technology company that has a mission to become the key driver in education transformation through innovation in financial services. Registered with and supervised by OJK (the Financial Service Authority) since 2018, Pintek engages in providing financial access to all communities and educational institutions and their suppliers regarding the needs of education in Indonesia. Pintek is also registered with the Ministry of Communication and Informatics and is a member of AFPI (The Indonesian Joint Funding Fintech Association).
Pintek is owned by SoCap, a company that aims to grow ventures that facilitate cooperation, exchange, and innovation for social impact in the region. Learn more pintek.id