Indonesian peer-to-peer lending platform Investree has raised €220 million ($231 million) in Series D financing led by JTA International Holding in Qatar, with participation from Japanese online financial conglomerate SBI Holdings, which previously invested in the startup’s Series B and C rounds.
As part of the deal, Investree and JTA have established a joint venture in Doha, the capital of Qatar. The joint venture, called JTA Investree Doha Consultancy, will serve as a hub for Investree’s Middle East operations and provide digital lending services such as AI-powered credit scoring for small and medium-sized companies in the region.
Founded in 2015, Jakarta-based Investree previously raised a $23.5 million Series C round in 2020 led by MUFG Innovation Partners, the corporate venture capital arm of Japanese lender Mitsubishi UFJ Financial Group, and Indonesian state lender Bank Rakyat Indonesia’s BRI Ventures.
Investree said it has disbursed 14 trillion rupiah (about $900 million) of loans in Indonesia. The majority of the loans were disbursed to partners of agritech startup unicorn EFishery and Gayatri Microfinance. Besides Indonesia, it operates in Thailand and the Philippines.
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