PT JULO Teknologi Finansial (JULO), an Indonesian fintech, has built a successful partnership with the aquaculture tech company PT Teknologi Untuk Pembudidaya (eFishery) aligning Indonesian government efforts to improve financial literacy and promote financial inclusion.
The focus of the collaboration on Indonesia’s fish farmers – one of the segments that stats show as having the lowest financial literacy.
As of July 2024, the two homegrown technology companies have provided financing through the Kabayan (Kasih, Bayar Nanti or Support Now, Pay Later) program to over 6,000 fish farmers across Indonesia – with total funding exceeding US$ 11m
Nimish Dwivedi, Chief Business Officer, JULO,said: “As a financial inclusion provider we remain deeply committed to strengthening our partnership with eFishery on an ongoing basis given its impact on fish farmers across the nation.”
Gibran Huzaifah, CEO and Co-Founder, eFishery, recognised the ‘vast potential’ of Indonesia’s aquaculture sector, noting that the collaboration goes beyond a business partnership, and represents a shared commitment to improving the welfare of fish farmers.
“The aquaculture technology we develop and JULO’s financial solutions have joined forces to create a strong synergy. This allows us to offer more comprehensive services to our partners and establish an ecosystem that positively impacts all its components, while also contributing to national food security,” said Gibran.
Ir. Hermansyah, Head of the Marine Affairs and Fisheries Agency for West Java Province, said: We hope this program will continue to support fish farmers in expanding their businesses.”
