KinerjaPay Corp (fka KPAY)

[John23V]

Today we look at Pintek.

Got their registration on 10-16-18. Judging by what we see with the time it takes to get sites up and running, let's say they began their p2p in mid November 2018.

They facilitate strictly education loans.

They received an undisclosed amount of seed VC funding on 4-16-19.

In this article: https://magazine.job-like.com/pintek-dana-pinjaman-sekolah/ from 9-27-19, they had disbursed $657,810 in loans. So in 10 and a half months roughly.

On 11-11-19, they received an undisclosed amount (said to be in the area of $3mil) of pre series A funding.

In this article from 2 days ago:https://keuangan.kontan.co.id/news/p2p-lending-pintek-sudah-salurkan-pinjaman-rp-373-miliar they are now at $2,726,257 loans disbursed.

First 12 months in business $657,810 in loans
Last 4 months $2,068,477 in loans
From only education loans.
Using simple math, they should easily exceed $8 mil in loans disbursed in 2020.

So when we see KFUND reaching out to high schools, and setting up internships through universities, does $8,000,000 in loans to these kids sound like a bad idea to you?

Not a banner first year for Pintek, but they did what they had to do, and funding showed up. This year they will begin their Shariah p2p service. Growth and revenue.