Indonesian peer-to-peer (P2P) lending platform Amartha has completed the acquisition of PT Bosowa Multi Finance, a leasing company previously part of the Bosowa Group conglomerate, according to DealStreetAsia.

The deal was carried out through PT Amartha Nusantara Raya (ANR), the holding company that oversees Amartha’s operations, including its P2P lending platform and credit scoring unit, Ascore.

The acquisition reflects Amartha’s dual focus on expanding its market presence and enhancing its ability to deliver customer-focused financial solutions.

According to CEO Andi Taufan Garuda Putra, the company aims to develop products that cater directly to the needs of customers and partners, leveraging a broader portfolio of business licenses to address various segments.

While Amartha is diversifying its offerings, it remains firmly anchored in its commitment to the productive economic sector, which forms the backbone of its operations.

This segment continues to drive the majority of the company’s revenue and offers significant growth potential, reinforcing Amartha’s focus before exploring wider diversification.

Established in 1994, Bosowa Multi Finance offers financing solutions across investment, working capital, and multipurpose categories.

Its latest financial report indicated assets of 107 billion rupiah, liabilities of 16.66 billion rupiah, and equity of 90.22 billion rupiah.

Featured image credit: Edited from Freepik

The article first appeared on Fintech News Singapore