Pintek, established in 2018, has partnered up with nearly 100 academic institutions and distributed educational loans in 22 Indonesian provinces.

The previous investors, Finch Capital and Amand Ventures, also participated in this round.

GFC expects to work with Pintek team in their mission to facilitate better access for millions of Indonesian people by providing solutions for those in need of loans related to educational issues.

Pintek plans to use the fresh money to improve the technology platform and its commercial team.

“Pintek is having explosive growth, especially after the funding round earlier this year. We need to grow our team to keep up with the user’s demand and to expand our products. We’re going to double up our technology and commercial teams in the next quarter,” Pintek Co-Founder Ioann Fainsilber said.