# PT. Cicil Solusi Mitra Teknologi

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pt-cicil-solusi-mitra-teknologi

- Industry: Financial Services
- Headquarters: Jakarta, Indonesia
- Website: www.cicil.co.id
- Total disclosed funding: $1.3M
- Latest round: Series A (Feb 10, 2014)
- Investors on record: 4

## About

PT. Cicil Solusi Mitra Teknologi is a financial technology company that specializes in supply chain financing, enabling businesses to access working capital quickly by using their invoices and purchase orders as collateral.Founded in 2016 and headquartered in Jakarta, Indonesia, PT. Cicil Solusi Mitra Teknologi focuses on providing financial solutions to small and medium-sized enterprises (SMEs). The company has raised USD 1.295 mn in its Series A funding round, led by investors including CyberAgent Capital, Golden Gate Ventures, Incubate Fund, and TBS Innovation Partners, resulting in a current company valuation of USD 5.32 mn. The founder, Edward Widjonarko, has an extensive background in the sector, although specific details about prior ventures are not available.CICIL specializes in supply chain financing, providing working capital to companies by leveraging invoices and purchase orders as collateral for funding. This approach addresses liquidity challenges faced by businesses, allowing them rapid access to capital essential for operational efficiency. CICIL promotes financial inclusivity through user-friendly online platforms that streamline funding processes for both lenders and borrowers, primarily serving small to medium-sized enterprises (SMEs) in the Indonesian market.CICIL's revenue model derives from transactions facilitated between lenders and borrowers within its platform. Businesses seeking funding submit their invoices or purchase orders, which CICIL evaluates through its risk analysis. Upon approval, funds are quickly disbursed to meet immediate financial needs. CICIL generates revenue via interest rates applied to loans, which can reach up to 14% per annum, thus attracting a diverse pool of investors and enhancing the financial resilience of its clients.CICIL aims to enhance its offerings through the introduction of new products designed to further streamline financial processes, although specific launch dates are not yet disclosed. The company is also considering expansion into other Southeast Asian markets to increase its geographic footprint by 2025. The recent Series A funding of USD 1.295 mn will primarily be utilized to develop these new products and support market entry strategies, thereby strengthening its operational capabilities.

## Funding rounds

- Series A, Feb 10, 2014, $1.3M — CyberAgent Capital, Incubate Fund, Golden Gate Ventures, TBS Innovation Partners

## Investors

- CyberAgent Capital (https://capitalatlas.ai/funds/cyberagent-capital) — Series A
- Incubate Fund (https://capitalatlas.ai/funds/incubate-fund) — Series A
- Golden Gate Ventures (https://capitalatlas.ai/funds/golden-gate-ventures) — Series A
- TBS Innovation Partners (https://capitalatlas.ai/funds/tbs-innovation-partners) — Series A