responsAbility & Accial Capital partner to provide significant debt funding to a leading Indonesian fintech, enabling high impact financial inclusion, fostering job creation and promoting economic growth

Investree receives USD 10.5 million debt financing from responsAbility

October 20214 min readFinancial Inclusion

Zürich 28 October 2021 — Investree, a pioneering financial technology company in Indonesia, has completed USD 10.5 million in debt financing from responsAbility Investments, an asset manager focused exclusively on sustainable investment and Accial Capital, a tech-enabled investor in fintech lending portfolios in emerging markets. The proceeds will serve as crucial funding to the Micro, Small and Medium Enterprises (MSME) segment in Indonesia. Lending to Investree directly contributes to the UN Sustainable Development Goals (SDGs) in a large economy characterised by a limited access to finance for Small and Mid-Sized Enterprises, that hinders job creation, fuels inequality, and stifles economic development. For responsAbility, this is a unique structured credit transaction in the region.

Asian MSME’s strong demand for working capital far exceeds the supply of funding. The International Finance Corporation, the largest global development institution focused on the private sector in developing countries, estimated the Asian MSME sector has a financing gap of around USD 2 trillion. This is likely to be even higher now, due to the global pandemic, and presents an even bigger hurdle in eliminating poverty and creating the necessary jobs to absorb the growing work force.

Harnessing the potential unleashed by digitalization is critical to address the financing gap and help small businesses to thrive. Investree is an Indonesian fintech company at the forefront of leveraging advances in digital technology to provide supply chain financing to MSMEs. Its mission is to use technology and data to make loans more affordable and accessible. Crucial to fulfil its mission, the proceeds will be applied in its social impact business model by addressing the credit gap in the vibrant MSME segment in Indonesia. The company has a proven track record in digital lending and has won a number of fintech awards, including “Indonesia Fintech of the Year” in 2017 from the Asset Asian Awards and “Best P2P Lending Platform For SMEs” from the Asian Banker in 2017.

responsAbility and Accial Capital partnered to execute this unique transaction.  

Adrian Gunadi, Co-Founder and CEO Investree, Indonesia:

"This partnership with responsAbility and Accial Capital marks a milestone in our journey. And we look forward to further growing the relationship with Accial – one of our original financing partners – and responsAbility - one of the world's leading impact investors. The credit provided by the investment partnership is also timely as we, through our digital solutions, continue to support Indonesian small businesses to sustain and recover through the challenging times caused by the pandemic."

Jaskirat S. Chadha, Deputy Head, Financial Inclusion Debt, responsAbility:

“We are excited to partner in this innovative structure that provides much needed working capital funding to MSME borrowers in Indonesia. Fintech is a key driver for financial inclusion, notably in the MSME space, and we are happy that we found the right partners in Accial Capital and Investree with the needed expertise.”

Jared Miller, Co-Founder and CEO of Accial Capital, commented:

“We have been working with Adrian and the team at Investree since 2017, consistently increasing their credit facilities based on their excellent performance.  Today we are glad to partner with responsAbility – a true impact investing pioneer– to take the relationship to the next level and support Indonesian MSMEs as they manage through the challenges of Covid-19.” 

About Investree

Founded in 2016, Investree is a market leading MSME Finance focused Fintech player in Indonesia, regulated by the OJK. The Jakarta based company specializes in supply chain finance with a focus on client acquisition through an ecosystem of large and reputable payors. Investree has proven its resilience through the COVID-19 pandemic and continues to grow and provide critical financing support to the MSMEs that are the engine of the Indonesian economy. It has recently expanded its business to the Philippines.

responsAbility has invested over USD 11 billion in emerging markets since 2003, and as an impact asset manager, focuses on climate finance, sustainable food production, and financial inclusion. It works closely with players in local markets, as it maintains eight offices around the globe, in order to strategically take steps to directly contribute to reaching the UN’s Sustainable Development Goals. Currently, responsAbility manages USD 3.6 billion in assets invested in over 300 ESG-vetted high-impact companies in nearly 80 countries.

About Accial Capital

Accial Capital is an impact-focused, tech-enabled investor in small business and consumer loan portfolios in emerging markets. The Accial Capital team uses its unique combination of data, technology, innovative structures and credit expertise to push forward the boundary of wholesale private credit for financial wellness in emerging markets. 


Stephanie Bilo
responsAbility Investments
+41 44 403 0553

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