Several Indonesian tech startups are looking at debt financing from banks, especially in the local currency, to offset the impact of fluctuating foreign exchange rates and also to tide over the funding winter.
While debt is not as common as venture capital-backed equity funding, almost all Indonesian banks have debt products designed for startups, said OCBC NISP Ventura’s managing director Darryl Ratulangi. OCBC NISP Ventura is the corporate venture capital arm of the Jakarta-based Bank OCBC NISP.