Kredivo Distributes Loans to MSMEs in the Fishery Agribusiness Sector

Digital credit platform Kredivo collaborates with eFishery, the first aquaculture intelligence company in Indonesia. With this collaboration, Kredivo can expand access to credit, especially for the underserved and marginalized communities.

Meanwhile, for eFishery, this collaboration is one solution to solve bigger problems in the aquaculture sector in an integrated manner from upstream to downstream, especially the issue of capital.

Through this collaboration, Kredivo will be connected to the Kabayan feature (Kasih, Bayar Nanti) which is one of the eFisheryFund features.

This feature allows farmers to purchase various aquaculture needs or eFishery products, such as fish feed of various brands through the eFisheryFund service with periodic payments.

By becoming one of the eFishery partners, Kredivo can provide direct loan facilities to farmers through the Kabayan feature.

Kredivo Indonesia CEO Umang Rustagi said the agribusiness sector such as fisheries needs to have easy, fast and affordable access to financial services.

The agribusiness sector such as fisheries is a sector that in our opinion needs to get access to financial services that are easy, fast and affordable.

“This is considering the lack of history and financial transaction data for cultivators which makes it difficult for them to access conventional financial services, especially during the current pandemic,” he said in an official statement, Wednesday (7/7/2021).

Realize the Vision of Serving 10 Million Users

He said cooperation with eFishery is a solution and one way to realize the vision of serving 10 million users in Indonesia in the next few years.

Meanwhile, the CEO and Co-founder of eFishery, Gibran Huzaifah, hopes that eFishery can become a locomotive in accelerating Indonesia to become the number 1 aquaculture producer in the world. One way to do this is by providing access to capital for cultivators.

“Until May 2021, eFishery cooperates with various financial institutions with a total approved financing of more than IDR 11 billion. Loans are distributed to 1,700 fish farmers in Indonesia,” he said.

Gibran added that by collaborating with Kredivo, he hopes to multiply the impact of the platform by providing support for thousands of cultivators so that they can grow financially.

“By opening access to finance widely, farmers can take advantage of this opportunity to develop their business further, improve their welfare, and ultimately make the fishing industry more productive through true financial inclusion,” he added.

With access to financing, Gibran hopes that cultivators can expand their businesses to be wider, improve welfare, and make the fishing industry more productive.

“Through eFishery’s data and technology and Kredivo’s experience in lending, we are optimistic that this collaboration can be the answer to the challenges faced by thousands of Indonesian farmers and boost productivity during the pandemic,” said Umang.

“Therefore, we hope that this collaboration will continue to be sustainable and produce innovations that are beneficial to the community,” he added.

Achieves Revenue up to IDR 1.3 Trillion

eFishery, a startup in the fisheries sector that offers an end-to-end platform by providing services for farmers in the form of providing feed as well as financial access and market networks.

This startup aims to provide the world’s food needs through aquaculture, become a solution to address fundamental problems in the aquaculture industry by providing affordable technology, and reduce social and economic inequality through an inclusive digital economy.

In addition to goals, funding and networking are two other important keys in developing a startup. eFishery is no exception.

eFishery also has a target to reach 1 million fish farmers and continue to increase the positive socio-economic impact in the aquaculture ecosystem, especially for farmers, as well as realize the government’s target to increase shrimp exports by 250 percent by 2024.