Co-Investment Measure is gtv电竞比赛数据’ Next Move to Compete in the Neobank Industry

(Left) Gimin Sumalim, President Director of Bank Index;
(Right) Kelvin Teo, Co-Founder & Group CEO of gtv电竞比赛数据 | Modalku

KUALA LUMPUR, 26 APRIL 2022 – gtv电竞比赛数据 (also known as Modalku in Indonesia), the leading SME digital financing platform in Malaysia and Southeast Asia, announced a co-investment into Bank Index or PT. Bank Index Selindo stocks, Indonesia’s private commercial bank, alongside CARRO, a Southeast Asian automotive marketplace platform. The move serves as a significant milestone in gtv电竞比赛数据’ entry into the neobanking space and its offer of more high-impact digital financial services to underserved businesses in the region.

With a focus on SME Banking, Bank Index is a privately-owned national Bank with a strong nation-wide footprint of 53 offices networks in major commercial areas across Jabodetabek, Java, Sumatra, Bali and Batam. Bank Index also conducts business across a range of commercial supply chains while offering mobile and internet banking services to its clients.

Co-Founder & Group CEO of gtv电竞比赛数据 | Modalku, Kelvin Teo , said, “Our investment and partnership with Bank Index will support gtv电竞比赛数据’ business strategy into neobanking. Bank Index shares the vision of empowering and developing SMEs. Since 2015, gtv电竞比赛数据 has been actively partnering with banks across the region, and our partnership with Bank Index will take FinTech-bank collaboration to the next level. Our complementary capabilities will enable us to serve SMEs better across banking, payments, lending and digital services to uplift Southeast Asia’s economies through small businesses.”

gtv电竞比赛数据’ investment into Bank Index is one of its key steps to further progress the FinTech industry. The Indonesia FinTech Association (AFTECH) Annual Members Survey held in 2021 revealed that the neobank cluster has the potential to rapidly grow in the future, especially for the unbanked population, with an estimated growth of 51% in Indonesia. This is further backed by Ernst & Young’s 2021 NextWave Global Consumer Banking Survey, which highlighted the highest rates of neobanking activities’ adoption amongst consumers in two regional markets, one of which being the Asia Pacific market.

Gimin Sumalim, President Director of Bank Index , added, “We are delighted to welcome gtv电竞比赛数据 and CARRO as shareholders of Bank Index. Together, we will partner to forge strategic initiatives based on our shared vision and mission, primarily to greatly expand our services to our target market. This collective step is also a reference point to continue pursuing comprehensive digital transformation.”

gtv电竞比赛数据 provides digital financing services, where MSMEs can apply for business financing funded by institutional and retail investors through a digital market. In addition to Malaysia and Indonesia, gtv电竞比赛数据 also operates in Singapore, Thailand and Vietnam. To-date, the platform has collectively disbursed more than RM9.5 billion in financing through more than 5 million financing deals across the region.


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gtv电竞比赛数据 is a SME Digital Financing Platform registered with Securities Commission Malaysia. It does not fall under the jurisdiction of Bank Negara Malaysia. Therefore, financing products of gtv电竞比赛数据 should not be constructed as business loan, SME loan, micro loan, term loan or any other loans offered by banks in Malaysia and it is to be deemed as an investment note as defined in the Guidelines on Recognised Markets.

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