Indonesian startup, Finfra, has secured $1 million in funding from investors including DSX Ventures, Seedstars International Ventures, Cento Ventures, Fintech Nation, FirstPick, BADideas Fund and Hustle Fund. The funding will be used for product development and to expand Finfra’s engineering, data and finance teams. The firm, which offers tech infrastructure to facilitate embedded finance products for B2B and B2C applications on a white-label basis, works with digital supply chain platforms, agritech companies, and merchant e-commerce platforms. The firm’s loan management system allows businesses to offer credit to users through their platforms. According to CEO Markus Prommik, Finfra saves businesses from spending millions of dollars to develop the technology, acquire lending licences and build a team, with clients able to offer embedded finance within weeks via the firm’s APIs.
