FinTech news in p2p lending category

Existing backer Bain Capital led the extension, with participation from previous investors such as Access Ventures, CLSA Capital Partners Lending Ark Asia, D3 Jubilee Partners, 500 Global, Kakao Investment, TBT Partners and IBX Partners. PeopleFund plans to use its new capital to continue to advance its AI-powered risk management and credit scoring system for its users, which includes borrowers and lenders. In 2021, PeopleFund raised $63.4 million (75.9 billion won) in equity for Series C, also led by Bain Capital, to further develop its credit-scoring system. Korea’s P2P lending startup PeopleFund gets $63.4M Series C led by Bain Capital

KoinWorks was originally created to help SMEs, which are often turned away by traditional financial institutions, get access to working capital. Over the last three years, Indonesian fintechs focused on SMEs have grown to include other neobanks and startups that started out as accounting software but are expanding to include working capital loans and other financial services.