Mapan Secures US$15 Million from Global and Indonesian Investors in Series A Funding Aimed at Improving Financial Access for Indonesians

• Indonesian giants’ participation in the A-series round saw PT Astra Digital Internasional, a subsidiary of PT Astra International Tbk (Astra)Blibli, BRI Ventures, SMDV and Prasetia Dwidharma, as well as global venture capital firms Patamar Capital, Flourish Ventures and 500 Global

• New funds will be deployed to grow the product line, expand customer reach and drive financial inclusion through the introduction of products that remove barriers and provide access to finance

SINGAPORE, June 28, 2022 /PRNewswire/ — Mapan, a IndonesiaA leading startup based on breaking down barriers to financial access for the nation’s masses, today announced that it has successfully closed a Series A of $15 million. The round was co-led by Patamar Capital and PT Astra Digital Internasional, a subsidiary of PT Astra International Tbk (Astra), with participation from Indonesian giants BRI Ventures, SMDV, Blibli, Prasetia Dwidharma and global venture capital firms Flourish Ventures and 500 World.

With this successful fundraising, Mapan will now seek to develop its core Arisan service by expanding its product line and partnering with top vendors. An aspect of Indonesian culture, Arisan is a form of informal social gathering, where members take turns buying goods for the group. The company will also introduce a wider variety of Arisan programs and expand its reach, aiming to make its digitized Arisan product accessible to 10 million homes worldwide. Indonesia by 2026. In its aim to foster financial inclusion in the country, where 51 percent^[1] of adults in Indonesia do not have access to banks or other forms of formal financial services, Mapan will also introduce other products to enhance financial inclusion and improve access to sources of finance for the masses.

Since 2015, Mapan has also focused on empowering women leaders of Arisan groups, which are traditional women-led rotating savings groups, through the introduction of its Arisan app. Through the recruitment of women leaders and influencers as agents and creators of Arisan groups, Mapan has provided affordable asset financing to over three million households to date. Influential women and leaders of Arisan de Mapan groups can also count on additional benefits, such as commissions on product sales, incentives for recruiting and training new agents and other performance milestones, thus bringing financial equality for women from low-income families in Indonesia.

“In Indonesia, women play a key role in managing their family’s finances, and Arisan is the manifestation of this process. We are honored that through the Mapan Arisan product, they have been empowered to help their communities improve their capacity to purchase household goods, improving their quality of life. We are committed to continuing to work closely with them to scale our solutions that provide life-changing financial access at scale,” said Ardelia Apti, new CEO of Mapan.

Mapan was founded in 2009 with a mission to improve the quality of life for the masses Indonesia through solutions that will help remove barriers to financial resources for low-income communities. Through the use of Mapan’s Arisan product, low-income groups can increase their purchasing power to buy household goods such as kitchen utensils, electronics and furniture. The company also currently provides other products and services such as bill payment app, Mapan Pulsa, and consumer goods reselling platform, Mapan Mart.

Director of Astra Gidion Hasan said, “In line with Astra’s goal of prospering with the nation, Astra wants to help improve the quality of life for the people of Indonesiaone of which is to contribute to the advancement of indonesia Digital Economy. Collaborating with Mapan is one of our ways to empower people from all walks of society to meet their daily needs.”

“We love Mapan’s unique approach to amplifying the power of women in communities. The concept of Arisan has been central to Indonesian culture for many years, and by digitizing it, Mapan has brought scalability to the practice We are excited to play our part in Mapan’s next phase of growth as it seeks to improve financial access and quality of life for Indonesians.” Dondi HanantoPartner at Patamar Capital.

On the sidelines of this fundraising, the firm recently announced the appointment of Ardelia Apti as Chief Executive Officer (CEO). Ardelia and its team are committed to delivering on Mapan’s promise to improve the lives of Indonesians through technology, while driving the company’s expansion and product development.

Prior to Mapan, Ardelia Apti gained extensive business experience in the fintech and deep tech space. She spent 5 years at Gojek, which is part of the GoTo group, in several roles. While at Gojek, Ardelia co-built its Swadaya program, a benefits program for Gojek driver-partners that helps them save on day-to-day expenses, and also led GoPay’s offline payments business. , piloting QR payment solutions for consumers, businesses and MSMEs. She was also previously a national director for artificial intelligence firm Element, Inc. and a consultant at McKinsey & Company.

Aldi Haryopratomo, Founder and Board Member of Mapan, said, “With this new fundraising from a strong base of Indonesian and global investors, we are excited about the new phase that is now ushered in. This represents support for Ardelia’s vision to build a community of women to ensure Indonesian families become financially self-sufficient, and we are excited to move this project forward. »

Mapan currently operates in Java, baliSumatra, Nusa Tenggaraand Sulawesi, and plans to expand its operations in the rest of the Indonesia.

About Mapane

Founded in 2009, Mapan (PT Ruma) is on a mission to increase access, quality of life and income for the people of Indonesia through technology. Through 1 app, Mitra Usaha Mapan can access various products and services to earn income and start a business. Mapan has reached over 3 million members who have joined Mapan Arisan, Mapan Pulsa and Mapan Mart services spread across almost all districts and cities in Java, bali, Sumatra, and Sulawesi. As we move forward, Mapan has the vision to be able to reach all parts of Indonesia to help millions of Indonesian families achieve a better quality of life. Users can now access Mapan products and services through the Mapan app. The Mapan application is available on the Google Play Store. Visit www.mapan.id, www.facebook.com/MakinMapanor on Instagram @MakinMapan for more information.

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