- After 8 years, Modalku co-founder Iwan Kurniawan has stepped down to “take a career break.”
- He helped build Modalku into a top Southeast Asian digital lending platform.
- As Kurniawan leaves to explore new passions, Modalku eyes further regional growth after recent funding.
Modalku’s career break
After nearly 8 years helping lead Indonesian peer-to-peer lending platform Modalku, co-founder Iwan Kurniawan announced he has stepped down from his role to “take a career break.”
Kurniawan said Modalku facilitated over $3 billion in financing to more than 90,000 small businesses during his tenure. He helped oversee the firm’s expansion in Indonesia and entry into the Thai market.
Exploring new passions
The fintech veteran will now explore new passions outside Modalku, which he co-founded in 2015 alongside Kelvin Teo and Reynold Wijaya.
The platform aims to provide affordable and reliable credit access to overlooked small businesses.
Ongoing growth and recent funding
Modalku runs under its brand in Indonesia but operates as Funding Societies in Singapore, Malaysia, Thailand, and Vietnam after recent regional growth.
This includes new funding in January from Malaysian sovereign wealth fund Khazanah Nasional to aid Modalku’s expansion in Malaysia.
As he steps back, Kurniawan leaves a strong leadership legacy after playing a key role in Modalku’s beginnings and ascent as a top Southeast Asian digital lending platform for SMEs over nearly a decade.
