Startup Pintek Receives Funding from Finch Capital

Pintek announced that it has secured funding from Finch Capital, with the participation of Accion Venture Lab and several other investors. As a fintech startup that provides education financing for students to educational institutions, Pintek will use this investment to develop products and technology, as well as further educate Indonesians about education loans.

“During the Covid-19 pandemic, Pintek experienced strong growth, with income increasing 12 times from January to September 2020 compared to the same period last year,” said Ioann Fainsilber, SoCap CEO & Pintek Co-founder in a written statement.

This significant growth, according to Ioann, validates the company’s value proposition to be the driver of the entire education ecosystem, financing students, educational institutions, and suppliers of educational needs.

“We have also adapted the Pintek service to the needs during the pandemic, such as helping schools to finance the need to digitize and run an effective online learning environment. We want to be one of the main drivers for the education sector in Indonesia and support the Indonesian government’s mission towards Education 4.0,” he said. Ioann further.

Partnerships with 190 Educational Institutions

Since 2018, Pintek has established partnerships with more than 190 educational institutions (including K-12, Vocational, Higher Education, and Nonformal) and has distributed credit to customers spread across more than 26 provinces in Indonesia.

Tommy Yuwono, Co-founder and President Director of Pintek, said that the company wants to help improve the quality and affordability of education in Indonesia through this partnership. “This is in line with President Joko Widodo’s mission ‘Golden Indonesia 2045’, improving the education system is a national priority,” said Tommy.

Meanwhile, Hans De Back, Managing Partner at Finch Capital said he was happy to be the main investor in this funding round.

“We hope that Pintek will become a comprehensive solution for all needs from the perspective of students, educational institutions to other educational supply companies. We are very pleased to have supported Pintek since its first funding period and is now moving into the next phase of growth,” said Hans.

Inclusive Financial Services are Important to Provide High-Quality Education

Paolo Limcaoco, Southeast Asia Investment Officer at Accion Venture Lab, said inclusive financial services are essential to ensure that schools can provide high-quality education and students can access the education they need.

“At Accion Venture Lab, we are impressed with how Pintek responded to the pandemic and developed products to support their users during these difficult times. We are very pleased to continue supporting Pintek in its mission to create a more inclusive financial system for families and schools in Indonesia,” added Paolo.

This collaboration with investors such as Finch Capital and Accion Venture Lab will enable Pintek to develop his team and build a platform that provides smart financial solutions for better education while enabling inclusive and high-quality education for all Indonesians.

Encouraging Digital Literacy in the World of Education

Having a mission to support the transformation of education in Indonesia, Pintek, a financial technology company for education, held a discussion session on the Pintek Edutalk #YangPentingBelajar: Increasing Digital Literacy for Education 4.0.

This event is a talking space for developing the education ecosystem through the implementation of technology, as well as strengthening the commitment to the importance of digital literacy for educational institutions as an effort to prepare Human Resources in facing the industrial revolution 4.0.

With the theme “Increasing Digital Literacy for Education 4.0”, this discussion session presented speakers who had a broad vision for the education ecosystem, namely the Center for Data and Information Technology – Ministry of Education and Culture, and in terms of technology, namely PT Duta Digital Informatika (DUGI).

Digital literacy is one of the basic literacies established by the World Economic Forum in 2015. Digital literacy is not only important for students, but for parents and educational institutions, to the wider community.