PT iGrow Resources Indonesia (iGrow), which claims to be the first agricultural peer to peer lending platform in Indonesia, finally had its turn to face problems as 40 of its investors filed a tort lawsuit to the South Jakarta District Court back in June 2023. The plaintiffs accused iGrow of defaulting. This is the second of such cases in the agribusiness lending business after previously TaniFund, the lending arm of the agritech company TaniHub, also faced default. In iGrow’s case, the mediation stage ended with no agreement between the parties, but luckily, the plaintiffs decided to withdraw the lawsuit. To subscribe please click here
