Bank Danamon partners Helicap to bring growth capital to Indonesia’s financially underserved
Singapore-based private investment fintech platform Helicap and Bank Danamon have come together to create a “one-stop solution” for MSMEs, fintechs and alternative lending firms’ growth capital needs in Indonesia.
Bank Danamon partners Helicap for alternative lending
Joined by its subsidiary Adira Finance and over IDR 221 trillion in consolidated assets, Danamon will combine its regional banking experience with the fintech’s debt portfolio and proprietary data analytics, including its capabilities in investment diversification and portfolio management.
In this, the Jakarta-headquartered bank will process transactions and accounts for Helicap’s borrowers – via its banking infrastructure and internet banking portal, Danamon Cash Connect – enabling access to a broader range of products in cross-border, credit and cash management solutions.
Helicap will back this process by building what it describes as a “robust flow of risk-managed transactions”, secured by its risk management technology.
This arrangement is hoped to enhance access to capital and debt financing for non-bank firms in the supply chain, leasing and e-commerce sectors specifically, while streamlining associated processes in cash reconciliation, fraud analytics, credit risk monitoring and due diligence, among other areas.
Speaking on the partnership, David Wang, CEO and co-founder of Helicap, comments: “By combining our credit expertise and resources with Danamon’s extensive reach and banking know-how, we are creating a truly unique and comprehensive solution for FinTech and alternative lending firms across the region.”
