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Indonesia fintech AwanTunai raises $20m to fund merchants

Startup helps the underserved and unbanked manage cash flow

The lack of transaction records remains the biggest obstacle for obtaining loans from banks for Indonesia’s micro-merchants.    © Reuters

JAKARTA -- Indonesian fintech startup AwanTunai announced on Monday that it has raised $20 million via a debt facility from Accial Capital.

The company will use the funds to finance loans to suppliers and micro-merchants, according to a statement.

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