NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, May 13, 2019

By Komal Nathani

Indonesia-based fintech aggregator Alami has secured an undisclosed amount of funding in a pre-seed round led by Tryb Group. Alami, a marketplace for Islamic financing, is the first sharia-compliant peer-to-peer platform to raise funds in the region. The company is working with multiple partners, including sharia banks to facilitate SME invoice financing.

The company’s P2P platform recently obtained a P2P registration from the country’s Financial Services Authority (OJK) and is set to soon expand its business into the sharia-compliant P2P financing space.

While announcing the fund raise, Dima Djani, founder and CEO of ALAMI, said, “Tryb’s Southeast Asian fintech expertise provides strong validation of our business model and key support for our growth plans.”

Photo courtesy of lau rey.