GoTyme Indonesia has partnered with Danabijak and Olsera to introduce a Merchant Cash Advance (MCA) program, aimed at providing quick and flexible financing to MSMEs.
This is said to be the first such MCA offering in Indonesia, following similar initiatives by GoTyme in South Africa, the Philippines, and Vietnam.
The program allows eligible merchants using the Olsera point-of-sale platform to access business loans without needing collateral.
The application process is fully digital and can reportedly be completed in under 10 minutes.
The MCA offers flexible loan amounts and repayment terms that adjust based on weekly sales and business seasonality, rather than requiring fixed monthly payments.
This means repayments fluctuate in line with a business’s revenue cycle.
There is a single, upfront fee, with no hidden charges or penalties.
Approved loans are typically disbursed within two business days.
Tim Delahunty, Director of GoTyme Indonesia, highlighted that MSMEs play a crucial role in Indonesia’s economy, with over 65 million MSMEs employing more than 120 million Indonesians and contributing 60% to GDP annually.
He said,
“While the regulatory framework in Indonesia has seen much positive change, we believe Indonesian businesses deserve more innovative credit solutions. MCA is our response to this – a fully digital application process, instant approval and fast funding to address the pain experienced by many business owners accessing capital.
Further, loan repayments align to the merchant’s cash flow cycle and adapt to business seasonality. Drawing from our experience in other markets, 80% of MSMEs that utilise our MCA solution report business growth as a result. Collaborating with Danabijak as our licensed lending platform, and Olsera as our first partner, now enables us to bring this innovation to Indonesian business owners.”
Markus Prommik, CEO of Danabijak, expressed his company’s enthusiasm for the partnership and its potential to empower MSMEs.
Novendy Chen, CEO of Olsera, highlighted the company’s commitment to supporting MSME growth and development through solutions like GoTyme Modal.
Tyme is a multinational financial services group headquartered in Singapore, with a technology and product development hub in Vietnam, operating digital banks in several countries, including TymeBank in South Africa and GoTyme in the Philippines.
The group had raised US$250 million in its Series D funding round, valuing it at US$1.5 billion in December last year.
Tyme now serves over 16 million customers across the group.
Featured image credit: Edited from Freepik
