WEBIT Founders Games
AwanTunai
| Startup Name: | AwanTunai |
| Country: | Indonesia |
| Date Founded: | /1/2017 |
| Financial Stage: | Round B |
| Area: | FinTech |
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AwanTunai is the leading vertical fintech player digitizing the offline FMCG supply chain in Indonesia. We solve for both operational and financing pain points through ERP software plug-in and integrated embedded financing for offline suppliers. Our traditional suppliers have aggregate annual sales of over $3bn+ and we originate and service over $50m of embedded financing monthly. We have been growing revenues at an average 30% QoQ and achieved 0.25% average historical credit loss from $1bn+ disbursed across 50,000 loans over the last 4 years.
We have Insignia and the IFC (World Bank) as major investors, along with a number of Asian bank CVCs as other shareholders since we've positioned AwanTunai as the asset origination arm for the banking industry.
We have Insignia and the IFC (World Bank) as major investors, along with a number of Asian bank CVCs as other shareholders since we've positioned AwanTunai as the asset origination arm for the banking industry.
AwanTunai enables traditional FMCG distributors and wholesalers to manage their operations, inventory, obtain financing for themselves and their micro merchant customers to help them grow. We now serve over 300 distributors/wholesalers, along with thousands of their micro merchant customers. We’re capturing annualized total payment value of $1.3bn via our ERP systems for suppliers, with half of these transactions converting into embedded financing at a $600m annualized run-rate.
Banks are traditional incumbent financiers, but there is a large financing gap as banks struggle to serve the SME and micro segments.
More recently, a plethora of well funded e-commerce and supply chain B2B platforms have tried to serve our traditional FMCG supply chain segment via procurement. However, all have been loss making, and none have managed to run lending on a sustainable basis. There might be an exception with some Indian supply chain financing start ups in the manufacturing space, but we have not seen any of that success in our Southeast Asian market.
More recently, a plethora of well funded e-commerce and supply chain B2B platforms have tried to serve our traditional FMCG supply chain segment via procurement. However, all have been loss making, and none have managed to run lending on a sustainable basis. There might be an exception with some Indian supply chain financing start ups in the manufacturing space, but we have not seen any of that success in our Southeast Asian market.
We provide our ERP plug-in software for free as it digitizes our customer's valuable transaction data. With that data we are able to provide low cost financing for them to purchase inventory. Our inventory financing product is our primary source of revenue and we offer it at multiple levels of our supply chain ecosystem (upstream distributors buying from principals, mid-stream wholesalers buying from distributors, and downstream retail micro grocery stores / merchants buying from our in network wholesalers). We source our lending capital from banks and institutions only, and make a profit from the spread between our cost of funds and the interest revenue we charge our borrowing customers.
Upstream distributors (over $10m in annual sales), which we attract from referrals from our wholesaler customers. Wholesalers typically buy form multiple distributors.
Midstream wholesalers (between $500k to $10m in annual sales), which we attract from accessing downline customers from our distributor customers and referrals from our micro merchant customers. Again, micro merchants typically buy inventory from multiple wholesalers, so we are leveraging the network effect in our ecosystem.
Downstream micro retail grocery stores / merchants (below $500k in annual sales), who we source from our wholesaler referrals.
Midstream wholesalers (between $500k to $10m in annual sales), which we attract from accessing downline customers from our distributor customers and referrals from our micro merchant customers. Again, micro merchants typically buy inventory from multiple wholesalers, so we are leveraging the network effect in our ecosystem.
Downstream micro retail grocery stores / merchants (below $500k in annual sales), who we source from our wholesaler referrals.
We've financed over $1bn of inventory purchases across 50,000 loans over 4 years.
Credit losses to date only amount to a low 0.25%, lower than bank secured lending losses.
We have secured over $50m of lending capital facilities from banks and institutions and look to grow the supply of funding scale to $200m in 2024 and towards $1bn in 2025.
Credit losses to date only amount to a low 0.25%, lower than bank secured lending losses.
We have secured over $50m of lending capital facilities from banks and institutions and look to grow the supply of funding scale to $200m in 2024 and towards $1bn in 2025.
Financing Stage:
Seed:| Raised money: | 900000 USD |
| Valuated at: | 6000000 USD |
| Investor: | Insignia Venture Partners |
| Closing Date: | 10/2017 |
| Raised money: | 8500000 USD |
| Valuated at: | 38000000 USD |
| Investor: | AMTD, Insignia Venture Partners, and BRI Ventures |
| Closing Date: | 07/2021 |
| Raised money: | 8500000 USD |
| Valuated at: | 58000000 USD |
| Investor: | International Finance Corporation (WorldBank) |
| Closing Date: | 02/2022 |
| Raised money: | 17600000 USD |
| Valuated at: | 125000000 USD |
| Investor: | MUFG Innovation Partners and OP Group FinnFund |
| Closing Date: | 08/2023 |
Current Revenue:
| Current Year: | 50000000 USD |
| 1 year ago: | 9000000 USD |
| 2 years ago: | 4000000 USD |
| 3 years ago: | 1000000 USD |
Next year expected revenue:
200000000 USD
200000000 USD
Development Stage:
Post-revenue
Post-revenue
Аre you in currently in an open Investment round?
Yes
Yes
What is the company valuation for this round by the lead investor?
125000000 EUR
125000000 EUR
What is the amount of financial commitments you have so far?:
17600000 EUR
17600000 EUR
What would be ideal amount of financing via the Founders Games?:
2500000 EUR
2500000 EUR
Who is the lead investor for your round?:
MUFG Innovation Partners and OP Group FinnFund
MUFG Innovation Partners and OP Group FinnFund
| Team member 1: | Dino Setiawan |
| Position: | CEO |
| LinkedIn Profile: | View Profile » |
| Bio: | Dino is an experienced fintech entrepreneur, having led a Silicon Valley based fintech start-up after Stanford Graduate Business School, which provided US banks access to underbanked borrowers. He currently leads AwanTunai, a leading fintech lender digitizing the traditional offline FMCG supply chain in Indonesia. Prior to his roles in tech, he was an Investment Banking Vice President for Morgan Stanley Indonesia, working 6 years in Indonesia assisting with capital markets deal origination, execution, and client management. Dino spent the first 6 years of his banking career in Australia after graduating from University of New South Wales. His roles covered interest rate derivatives product control, treasury risk management, and corporate banking. |
| Team member 2: | Ying Li |
| Position: | CTO and Chief Science Officer |
| LinkedIn Profile: | View Profile » |
| Bio: | Dr. Li serves as the Chief Science Officer and CTO of AwanTunai, where she oversees R&D of software and AI technologies. Throughout her career, she has built various software and data science products, building engineering and data science teams, both in large corporations as well as in startups. Her experience includes 14+ years at Microsoft, in a variety of roles including Partner Data Scientist, GM for Advertising Division, and GM for adCenter Labs. Her leadership on AI has resulted in technologies that are part of the foundation for the Microsoft ad platform and online services. Ying Li holds two IP patents with Bill Gates. Ying Li holds bachelor and master degrees in Mathematics from Beijing University, and a Ph.D. in Computer Science from University of British Columbia. |