JAKARTA, Indonesia, June 18, 2025 /PRNewswire/ — Indonesian fintech pioneer Amartha, a digital financial technology provider which serves Indonesia’s rural grassroots entrepreneurs, has secured USD $55 million in funding from three European development finance institutions: Swedfund (Sweden), Finnfund (Finland), and BIO (Belgian Investment Company for Developing Countries).

Evi, a small clay artisan from Klaten, Indonesia, grew her home-based business with funding from Amartha and now exports her handmade crafts abroad, as far away as France.

Andi Taufan Garuda Putra, Founder & CEO of Amartha, stated, “This collaboration with three European state-owned development finance institutions highlights foreign investors’ recognition of both the tremendous potential of the grassroots segment and Amartha’s strong capability and governance in serving it. Amartha is committed to channeling this funding to reach millions of grassroots women entrepreneurs across Indonesia.”

Of the total $55 million, Swedfund contributed $25 million, while Finnfund and BIO each contributed $15 million. This funding will be channeled to support women-led microenterprises in rural areas through increased access to financing. The loan is part of a broader syndicated facility of up to USD 199 million, led by the International Finance Corporation (IFC), a member of the World Bank Group.

“The funding comes as a strong vote of confidence in Amartha’s grassroots-focused model and proven operational excellence, especially at a time when startup investment across Southeast Asia has slowed,” said Amartha Chief Financial Officer Ramdhan Anggakaradibrata.

Both DealStreetAsia and Tech in Asia reported a continued funding decline into Q1 2025 for the Southeast Asian tech ecosystem.

Founded in 2010, Amartha has provided financial services to more than 3.3 million ultra-micro businesses across Indonesia of which 99 percent are women-owned.

“Our model combines responsible lending, digital innovation, including robust AI-enabled risk profiling and management, and hyperlocal understanding of grassroots behavior,” Taufan added. “It’s this blend that builds trust, not not just with our customers, but with global investors seeking real impact.”

Jane Niedra, Investment Director for Financial at Swedfund, stated, “Swedfund’s investment will enable Amartha to reach women entrepreneurs in rural areas with financial resources through responsible lending, boosting local economic stability and growth.”

Finnfund highlighted Amartha’s innovation in developing the AmarthaFin digital app, which aims to broaden access to financial services in underserved areas.

“It has recently developed a new app, AmarthaFin, whereby Amartha’s customers can become micro-lenders to other group loan borrowers. With AmarthaFin, borrowers can generate more income,” said Ulla-Maija Rantapuska, Senior Investment Manager at Finnfund.