Investree Plans Major Restructuring After CEO Adrian Gunadi’s Resignation

Trending 2 months ago

Investree, a peer-to-peer (P2P) lending fintech level successful Indonesia, has announced plans for a important restructuring process to support its debtors who are facing financial difficulties.

Adrian Gunadi, Co-Founder and CEO Investree, Indonesia

Adrian Gunadi

This move comes successful nan aftermath of nan resignation of its CEO, Adrian A. Gunadi, whose departure was confirmed by Investree Singapore Pte. Ltd, nan mostly shareholder of nan Indonesian entity arsenic reported by Bisnis Indonesia.

Gunadi’s resignation, effective 31 January 2024, follows allegations of misconduct, including nan diversion of costs from Investree to his individual relationship and utilized his position to make nan lending patient a guarantor for a individual company.

Investree plans to move guardant pinch its restructuring pursuing nan infusion of caller equity from investors pinch nan purpose to stabilise nan company’s financial wellness and guarantee business continuity.

In caller months, Investree has faced a liquidity crunch, contempt securing a important Series D backing round. Delays successful nan disbursement of these costs person raised concerns among investors regarding nan company’s operational costs and gross procreation capabilities.

Investree has besides been struggling pinch an expanding complaint of bad loans, pinch its TKB90 complaint falling beneath nan manufacture standard. This measurement reflects nan platform’s challenges successful ensuring timely indebtedness repayments, a business exacerbated by nan world COVID-19 pandemic and inherent flaws successful its in installments scoring system. In consequence to these issues, Indonesia’s Financial Services Authority (OJK) has imposed administrative sanctions connected Investree and launched an investigation into imaginable financial irregularities.

Kok Chuan Lim

Kok Chuan Lim

Kok Chuan Lim, Co-Founder and Director of Investree Singapore Pte. Ltd., expressed optimism astir completing nan restructuring scheme swiftly, emphasising nan company’s dedication to adapting its business model, enhancing consequence management, and securing capable capital.

The guidance of Investree has besides pledged to activity intimately pinch regulatory authorities and attraction connected sectors that person been heavy impacted by nan pandemic, including Micro, Small, and Medium Enterprises (MSMEs), arsenic good arsenic nan garment, textile, lipid and gas, and building industries.

Featured image credit: Edited from Freepik

Get nan hottest Fintech Singapore News erstwhile a period successful your Inbox

More
Source Fintech
Fintech