Seattle, October 12th 2022 – Capria Ventures, a leading Global South venture capital firm,has made its first startup investment in South-east Asian region in the Indonesian fintech company ALAMI. Led by East Ventures, Capria participated in this round along with AC Ventures, Quona Capital and FEBE Ventures. ALAMI is already a SME lending leader; soon launching a digital bank.
Founded in 2019 by Harza Sandityo (Co-Founder), Dima Djani (Founder), Bembi Juniar (Co-Founder), ALAMI provides access to peer-to-peer financial lending products to underserved Indonesian small and medium enterprises (SMEs), strictly adhering to Islamic principles. ALAMI has disbursed more than US$200 millions in loans, enabled more than 111,000 peer-to-peer investors involved in almost 10,000 projects across the nation. In 2021, ALAMI acquired BPRS Cempaka Al-Amin, the only Islamic rural bank based in Jakarta, and transformed it into a digital bank to create banking solutions for millions of underbanked customers.
We are excited to mark our first investment in SE Asia with ALAMI. In 2019, the World Bank estimated that Indonesian SMEs had access to just US$57 billion in credit, leaving a huge financing gap of US$165 billion. And the consumer gap is even larger! ALAMI’s Islamic fintech platform will enable millions of small businesses and consumers to access quality, affordable and convenient financial services”,” said Dave Richards, Co-Founder and Managing Partner, Capria Ventures.
Dima Djani, Group CEO and Co-Founder, ALAMI said: “This pre-series B round is a strong validation that investors acknowledge the positive impact ALAMI is creating in Indonesia’s market. Our aspiration is for more than 230 million Indonesian Muslims to benefit from Hijra Bank banking and financing. And our exciting journey is just getting started!”
In South and Southeast Asia, Capria has a significant local presence including its local venture capital partnerships with Arkam Ventures, Unitus Ventures, Genesis Alternative Ventures, AC Ventures and Ascend Vietnam Ventures. Capria has an underlying portfolio of close to 80 startups across four countries in the region. Using its broad reach, Capria intends to create an impact in the Global South through direct investments along with its partners and strong returns for its investors. Capria is backed by leading investors such as International Finance Corporation (IFC), the investment arm of the World Bank; Vulcan Capital, the multi-billion-dollar investment arm of the late Microsoft co-founder and philanthropist Paul Allen; Gates Ventures, the private office of Bill Gates; Ford Foundation, an American private foundation, and Omidyar Network, among others.
About Capria Ventures
Capria is the leading venture fund and network investing in extraordinary tech startups of the Global South. Capria helps activate strong relationships between hundreds of founders and leading local VC firms in the tech-hubs of the Global South – from Sao Paulo to Lagos to Bangalore to Jakarta. Capria brings state of the art venture capital innovation combined with global best practices of impact and ESG management to select and manage its portfolio of market-leading companies serving the fastest growing economies of the world. Capria’s network of investing partners collectively manage assets more than USD 1B, deployed in the best startups in their regions. Capria has offices in Seattle, Bangalore, Nairobi and Washington DC. More at: http://capria.vc
ALAMI is a sharia-based financial technology peer-to-peer lending company established in 2018 by Dima Djani, Harza Sandityo, and Bembi Juniar. ALAMI has obtained a license from the Financial Services Authority (OJK) since 27 May 2020. Currently, ALAMI is one of the largest Sharia-based financing platforms for MSMEs in the world, with more than IDR 3,5 trillion financing disbursed and a Non-Performing Financing (“NPF”) rate of 0% and Success Rate of Repayment (TKB90) of 100%. ALAMI has provided financing for more than 10,000 MSME projects in strategic sectors in Indonesia. ALAMI’s ecosystem covers 482 cities in 34 provinces across Indonesia, both from the side of funders and beneficiaries, with ongoing commercial and social activities. ALAMI’s efforts have gained recognition in the form of prestigious awards, including “Best P2P Financing Platform” at the global level by The Asset Triple A Awards for two consecutive years since 2019. For more information, visit https://alamisharia.co.id/