JAKARTA – Peer-to-peer (P2P) lending startup Investree has acquired a significant stake in Lippo Group-backed business-to-business (B2B) procurement startup Mbiz.
As reported by DailySocial, Investree co-founder Adrian Gunadi will sit as a board server at Mbiz following the acquisition. No financial details regarding the deal were disclosed.
According to Mr Gunadi, the acquisition will enable Investree to offer solutions to MSMEs aside from financial services. Since May 2016 the startup has facilitated over US$ 45.48 million in loans, and claims a 30% market share in the industry since February 2018.
Source: IDN Financials | 3 January 2020