Taralite

lendingonline loans

STATUS: Acquired/Merged
FOUNDING YEAR: 2015
LOCATION: Indonesia
Last Update: 01/05/2020

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About

Taralite is a FinTech company focusing on alleviating financial worries out of the underserved people in the world. It started in Indonesia, where there are more than 150 million people that are under-served by the banks. It has 2 key objectives it seeks to achieve: 1) Developing the best Profiling Engine for the underserved segment and 2) Implementing blockchain technology to all Government data depository. Taralite believes that if those 2 goals are reached, Indonesia will achieve democracy in its economy where people that previously were unreached or mis-priced by the financial institutions will get what they should fairly get.

MEDICI Analysis

Taralite is an online lending platform for SMEs. The company offers loans for merchants registered on e-commerce platforms.

Focus

PRODUCTS & SERVICES

Taralite offers a P2P lending platform that enables users to raise money for life events like weddings, house renovations, children's education, business loans, travel & Umrah, vehicle loans, housing loans, etc. It offers affordable loans to the underbanked community with an interest rate of 0.99% per month.

REVENUE MODEL

Interest revenue, P2P arrangement fee, contracts by the government

MAIN CLIENTS

Retail customers

EXISTING PARTNERSHIPS

Federal Loans

Yogakshemam

PRIMARY PROBLEM SOLVED

We manage to give out >USD5mio loans to the underserved people across 20 cities in Indonesia with fully automated instant credit approval while retaining a <0.4% Non-performing Loans ratio

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

REVENUE

$100k - $499k

REVENUE COMMENT:

We are the #1 player for online merchant lending segment in Indonesia

ACTIVE USERS:

2000

People

FOUNDERS

Abraham Viktor

Victor Timothy

BOARD MEMBERS AND ADVISORS

Abraham Viktor

George Hendrata

Kenichiro Matsuhisa

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Mandiri Capital Indonesia

SBI Holdings

KEY EMPLOYEES:

Abraham Viktor (CEO)

COMMENT:

.

Momentum

FUNDED

YES

TOTAL FUNDING

$6.3 M

DATE OF LAST FUNDING

May 2017

TOTAL FUNDING COMMENT

The company is planning to use the funding to build a world-class R&D team that would build an algorithm for its future plan.

FUNDING SERIES

SERIES A  · $6.3 M  · May 2017

LISTED

NO

For Investors

FUNDING NEEDED:

$10 M

USES OF FUNDS RAISED:

1. Building technology and research team

MONTHS LEFT WITH CURRENT CASH BURN RATE:

80 months from 11 Oct, 2017

BASICS

STATUS:

Acquired/Merged

FOUNDING YEAR:

2015

LOCATION:

Indonesia

Views:

87 VISITORS | 152 VIEWS
LATEST FUNDING ROUND

$6.3 M

About

Taralite is a FinTech company focusing on alleviating financial worries out of the underserved people in the world. It started in Indonesia, where there are more than 150 million people that are under-served by the banks. It has 2 key objectives it seeks to achieve: 1) Developing the best Profiling Engine for the underserved segment and 2) Implementing blockchain technology to all Government data depository. Taralite believes that if those 2 goals are reached, Indonesia will achieve democracy in its economy where people that previously were unreached or mis-priced by the financial institutions will get what they should fairly get.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Taralite is an online lending platform for SMEs. The company offers loans for merchants registered on e-commerce platforms.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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Taralite

About

Taralite is a FinTech company focusing on alleviating financial worries out of the underserved people in the world. It started in Indonesia, where there are more than 150 million people that are under-served by the banks. It has 2 key objectives it seeks to achieve: 1) Developing the best Profiling Engine for the underserved segment and 2) Implementing blockchain technology to all Government data depository. Taralite believes that if those 2 goals are reached, Indonesia will achieve democracy in its economy where people that previously were unreached or mis-priced by the financial institutions will get what they should fairly get.

Focus

PRODUCTS & SERVICES

Working capital for online merchants Blockchain solution for government services

REVENUE MODEL

Interest revenue, P2P arrangement fee, contracts by the government

TOP PROBLEM SOLVED

We manage to give out >USD5mio loans to the underserved people across 20 cities in Indonesia with fully automated instant credit approval while retaining a <0.4% Non-performing Loans ratio

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

Proprietary profiling engine that is used in credit, insurance, and wealth management business

KEY DIFFERENTIATORS

It's a proven profiling engine that is already validated by a 3rd party insurance company insuring our loans against 100% default risk

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Small And Medium Business - Other

Consumer

PRODUCT ATTRIBUTES

SaaS

Customer facing

People

FOUNDERS

Abraham Viktor

Victor Timothy

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Abraham Viktor

CTO: Robin Tan

employee: Abraham Viktor (CEO)

FOUNDER: Victor Timothy

TEAM COMMENT:

.

BOARD MEMBERS AND ADVISORS:

Abraham Viktor, George Hendrata, Kenichiro Matsuhisa

INVESTORS:

Mandiri Capital Indonesia

SBI Holdings

Momentum

FUNDED

YES

TOTAL FUNDING:

$1.3 M

LISTED

NO

FUNDING SERIES
Series A Apr 2017 --- USD1.3 M at a USD6.5 Mvaluation Comment on Series A USD1,300,000 equity + USD5,000,000 debt

Comment on Valuation

post money SBI Fintech Fund