KoinWorks Raises $108M for Neobank to Power Indonesia’s Small and Medium-Sized Businesses

On 15 December 2021, KoinWorks, the leading fintech platform in Indonesia, announced a $108 million Series C funding round led by MDI Ventures, the corporate venture arm of Telkom Indonesia with participation from previous equity investors such as Quona Capital, Triodos Bank, Saison Capital, ACV and East Ventures. The funding, which consists of $43 million in equity and $65 million in debt capital, will be used to scale KoinWorks’ solutions and team as the company aims to hire 400 new employees globally to meet demand.