Jakarta, 8 August, 2024 – KoinWorks, the financial group behind KoinP2P, Indonesia’s leading fintech lending provider focused on MSMEs, announced a strategic decision aimed at supporting the company’s regional service outreach beyond Jabodetabek area and a re-optimisation of its operations to deepen regional presence.
This move underscores KoinWorks’ commitment to aligning the organization and the team to operate closer to local MSMEs, thereby strengthening KoinWorks mission and commitment to continue building innovative fintech solutions for Indonesia’s economic backbone. As part of the strategy, KoinWorks will close several products developed during the COVID-19 period, including KoinBill, KoinBond, KoinGold, and KoinPintar and adjust the team structure, with 15% of the team in Jakarta (or 80 employees) being reduced, and some rehired for areas outside Jabodetabek.
“Today, we are embarking on a new strategy that allows us to extend our service outreach to operate closer to MSMEs, which is the backbone of the Indonesia economy. At the same time, we need to continuously achieve better performance by optimizing our operations and adjusting the team structure to align with our new strategy, while at the same time committed to comply with employment regulations and rights for the employees. This is an unavoidable step for us to take, to strengthen our organization for the future. We are always grateful for the team’s contribution and efforts in working together with us under a shared mission of driving the growth of Indonesia’s MSMEs. I would like to assure our customers that our commitment to them remains our priority. They will continue to experience the same support as we have always given them,” said Benedicto Haryono, CEO and Co-Founder of KoinWorks.
KoinP2P has recorded an improving Tingkat Keberhasilan Pengembalian Modal 90 hari (TKB90) from 92,67% in January 2024 to 93,61% in July 2024. KoinWorks also has KoinWorks Bank under its group, besides P2P Fintech Lending, which is not affected by the new strategy, as KoinWorks Bank has been achieving consistent monthly profitability since February 2024.
