As stated by the IFC, the proposed investment is in a senior tranche of asset backed securities in a Special Purpose Vehicle to be set up for pooling loan receivables which are originated by a peer-to-peer lending platform owned by PT Amartha Nusantara Raya. It is comprised of i) an IFC A loan of up to US$25 million and ii) mobilization of up to US$150 million, to improve access to finance for microentrepreneurs, especially women entrepreneurs with up to 100% of the loan proceeds to be used for on-lending to women borrowers.
The project is categorized as FI-3 by the IFC.
The proposed senior secured loan facility consists of IFC’s own account investment of up to US$25 million and mobilization of up to US$150 million.
From the IFC's website:
As of 31 December 2022, the main shareholders of ANR include: i) PT Amartha Starling Ventura holding 36% on a fully diluted basis (which is 99% owned by Amartha’s founder, Andi Taufan Garuda Putra); and ii) reputed venture capital funds including SBI, Beenext, Line Ventures, and Mandiri Capital Indonesia with 34% stake on a fully diluted basis.
Women’s World Banking and PT Metra Digital Investama (a venture capital unit of PT Telkom Indonesia) have convertible notes which will be converted into a 10% equity stake in March 2023.
Amartha is Indonesia’s pioneer and largest micro-financing lending platform and is headquartered in Indonesia. As of September 2022, ANR had 4,800+ field agents and 600+ client operational hubs across Java, Sumatra, and Sulawesi serving about 1.2 million borrowers.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Mandiri Capital Indonesia||Investor||Finance|
|-||-||-||-||Women's World Banking (WWB) Capital Partners||Investor||Finance|
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Financial Intermediary - PT Amartha Nusantara Raya:
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