Shariah Fintech ALAMI Raises Over USD 20 Million In Debt and Equity Funding

ALAMI, a licensed Shariah fintech peer-to-peer (P2P) lending platform in Indonesia, announced the successful closure of over USD 20 million in equity and debt funding.

The Series A equity funding round was co-led by AC Ventures and Golden Gate Ventures, with other investors, including Quona Capital also participating. The USD 20 million in debt was secured via an undisclosed international impact fund with a focus on the healthcare industry in emerging markets.

ALAMI, which caters to micro, small and medium-sized enterprises (MSMEs), provides accessibility to Shariah-compliant debt financing in Indonesia, whilst offering lending opportunities to both individuals and financial institutions across the region. This round came a year after the USD 1.5 million round in see...