Validus Welcomes Batumbu’s Newly Appointed Board of Directors

To read the full article in Bahasa, including the announcement of the Board of Commissioners, please visit Batumbu’s announcement here.

Singapore, Jakarta, 16th October 2024 – PT Berdayakan Usaha Indonesia (“Batumbu”), a fintech lending company registered as a provider of Information Technology-Based Joint Funding Services (“LPBBTI”), and part of Validus Investment Holding Pte Ltd (“Validus”), has announced a leadership change in its Board of Directors. This change was approved through a Circular Resolution of the Shareholders and became effective on October 14, 2024.

In the Board of Directors, the Shareholders accepted the resignation of Tan Glant Saputrahadi from his position as President Director and appointed Reza Perazi Armadi as the new President Director. Additionally, Paulus Adinata Widia was appointed as Deputy President Director, and Mochamad Tommy Hersyaputera as Director.

The updated structure of Batumbu’s Board of Directors is as follows:

Board of Directors

*) subject to approval from the Financial Services Authority (OJK)

Batumbu’s Independent President Commissioner, Manggi Taruna Habir, expressed his appreciation for Tan Glant’s dedication during his 3-year leadership at Batumbu and warmly welcomed Reza as the new leader.

“Under Glant’s leadership, Batumbu has successfully provided affordable financing solutions to MSMEs in Indonesia while consistently posting positive monthly EBITDA growth to date. These achievements have positioned Batumbu as a company with strong and sustainable business performance. Going forward, I am confident that Reza will elevate Batumbu, beyond just a financing platform, transforming it into a strategic partner for businesses across the supply chain network, as part of Validus,” said Manggi in a press statement on October 16, 2024.

“I would like to extend my heartfelt thanks to Glant for his exceptional leadership. Under his guidance, Batumbu has become the largest profitable SME financing platform in Indonesia. Looking ahead, I am confident that given Reza’s extensive experience in supply chain financing, Batumbu will further cement its position as the largest SME financing platform in Indonesia.” said Nikhilesh Goel, Co-Founder and Group CEO of Validus, on October 16, 2024.

Reza, who previously served as Deputy President Director of Batumbu, has more than 24 years of experience in the national banking industry, with extensive expertise in MSMEs and financial services for supply chain management. He joined Batumbu in early 2020 as Chief Business Development Officer during the pandemic.

With the new formation of the Board of Directors, Batumbu is expected to continue its growth through innovative services aligned with the business ecosystem of its partners. Entering its sixth year of operation in Indonesia, Batumbu remains committed to strengthening collaborations, including with funders and banking partners, to jointly contribute to the advancement of the MSME sector, the backbone of the national economy.

About Batumbu

Batumbu is a registered and regulated Information Technology-Based Joint Funding Services (LPBBTI) or Financial Technology Lending company, supervised by the Financial Services Authority (OJK) since April 2019. Batumbu received its business license as a provider of Information Technology-Based Lending Services through the decision of the Board of Commissioners member, Number: KEP-11/D.05/2021, issued by OJK on February 23, 2021. Batumbu facilitates easy access to financial services by connecting Fund Providers and Fund Recipients in need of productive financing on a digital platform owned and managed by Batumbu (for clarity, Batumbu does not provide consumer financing to individuals). It is supported by shareholders: (i) Validus Investment Holdings Pte, Ltd (VIH), which is also a shareholder of Validus Capital, PTE Ltd, a leading Financial Technology Lending company in Singapore, and (ii) PT Triputra Investindo Arya, the holding company of Triputra Group. For more information, visit www.batumbu.id.