The problem of capital makes many types of businesses. No exception for the textile business. This was discussed by Wifkain, who recently partnered with the fintech lending platform KoinWorks and launched a new financial service. As conveyed by the Indonesian Ministry of Industry, the textile and clothing industry is one of the priority sectors in the Making Indonesia 4.0 program to prepare for the era of the digital industry 4.0. From here, the company sees that this collaboration will support this mission. In particular, to encourage actors to continue to develop.

Throughout 2023, Wifkain has served retail and wholesale fashion businesses with more than 200 textile and garment factory partners.

Wifkain as a provider of cloud manufacturing and supply chain solutions adds later payment services to Micro, Small and Medium Enterprises (SMEs) engaged in the industry.

This step was taken to provide a new payment option for Wifkain users, after previously Wifkain partnered with KoinWorks as a supply chain financing service partner last year.

“This collaboration is based on our shared mission with KoinWorks which continues to support SMEs. KoinPaylater also has a fast service speed or SLA so that it can provide easy manufacturing solutions for our customers," Wifkain CEO Sara Sofyan added in his report.

Through KoinPaylater, KoinWorks provides loans with a buy now pay late scheme with a ceiling of up to IDR 2 billion to Wifkain customers in Indonesia.

“KoinWorks is expanding services with Wifkain to provide loans that are more up to date with the current needs of SMEs. The market for the fashion industry, from textiles to becoming a fashion brand, is certainly very large," said KoinWorks CEO Benedicto Haryono.

This service can be used by Wifkain's factory, convection, garment and fashion brand partners, which are now spread across Java, Bali and major cities in Sumatra and Kalimantan.

Wifkain aims to disburse Rp 100 billion in pay-later loans this year. "We invite fashion entrepreneurs to grow by taking advantage of this collaboration," added Sara.