DFDL Thailand and Indonesia acted for Lendable on the USD 10 million loan to Workmate, a Singapore-headquartered informal workers marketplace. It will use the amount to onboard more workers in Indonesia and Thailand.
DFDL advised Lendable on all legal aspects of the transaction and given the complex nature of financing regimes in both Thailand and Indonesia, it was a comparatively elaborate transaction. DFDL team was led by Vinay Ahuja (Partner, Head of Regional Banking, Finance & Technology Practice & Head of Indonesia Practice) based in Bangkok, and supported by Nipaporn Supha-Utchaichan (Partner & Thailand Deputy Managing Director), Panida Agkavikai (Legal Adviser) and Benjawan Butkrut (Junior Legal Adviser) for Thailand and by Andi Zulfikar (Partner, Mataram Partners), Deby Tridata (Legal Adviser) and Reza Haryo (Legal Adviser) for Indonesia.
Workmate is Lendable’s first client with a presence in Thailand. Founded in 2015 with the name Helpster, Workmate provides a platform that allows businesses to simplify its workforce management from recruitment to operations.