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Indonesian P2P lender Modalku raises $40m in Series C round

Cash will be used to support businesses hurt by coronavirus pandemic

Peer-to-peer lending, such as Modalku offers is growing in Indonesia, driven by huge demand from its largely under-banked population.    © Reuters

JAKARTA -- Indonesian P2P lender Modalku, which operates as Funding Societies in Singapore, has raised $40 million in a Series C funding round from undisclosed existing and new investors.

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