Investree Purchases an 18.4% Minority Stake in Amar Bank 

Fintech platform Investree Singapore made the announcement on Wednesday (May 11) that it will be purchasing an 18.4 percent stake in Indonesian digital bank PT Bank Amar Indonesia (Amar Bank) from Tolaram Group, which is headquartered in Singapore, for a price that has not been disclosed.

Investree Purchases an 18.4% Minority Stake in Amar Bank

Investree Singapore, which operates in Indonesia under the name PT Investree Radhika Jaya, will be able to expand its access to financial services for micro, small, and medium enterprises (MSMEs) in Indonesia as a result of the acquisition. MSMEs are the primary customer base for the company.

It stated that it has substantial synergies with Amar Bank, which will enable it to broaden the range of digital business services it provides to micro, small, and medium-sized enterprises (MSMEs).

The bank, which opened in 1991 as PT Anglomas International Bank, rebranded as Amar Bank in 2015 and now operates branches in Surabaya and Jakarta.

Tolaram Group, a global conglomerate with its roots in Africa, is the financial backbone of Indonesia’s first digital bank. Tunaiku, Amar Bank’s first digital lending product, was introduced in 2014.PT Investree Radhika Jaya co-founder and CEO Adrian Gunadi said the partnership would help the company grow into cities served by Amar Bank.

Amar Bank’s Tunaiku platform has lent more than IDR8 trillion to 575,000 customers.

Vishal Tulsian, President Director of Amar Bank, said,

“The strategic partnership with Investree will strengthen Amar Bank’s position as a digital bank”

Investree is Indonesia’s largest fintech SME lender. Amar Bank’s Tunaiku is the best Big Data-driven consumer and microbusiness lending platform, and Senyumku is the most advanced AI-driven banking platform. Amar’s strong balance sheet, Tunaiku’s digital lending, Senyumku’s digital banking, Investree’s SME lending, and Investree’s ecosystem = Indonesia’s strongest MSME-focused digital bank.

Under the aegis of PT Investree Radhika Jaya, the Investree Group conducts business in Indonesia. At this time, Investree Group itself has a business unit that is engaged in the provision of business solutions such as electronic invoicing and inventory management.