FinTech startups in Indonesia [list]

Indonesia FinTech startups

Indonesia has the largest population in Southeast Asia and one of the fastest growing economies. As financial technologies – FinTech – are becoming some of the hottest business opportunities in Indonesia, many startups and companies engage in the competition to conquer big and promising markets.

Indonesia’s economy represents about 40% of the Southeast Asian economy; it is the only member of the G20 in ASEAN. Yet, as Indonesia is still in an early phase of its development, many industries are under-developed, creating numerous opportunities for startups and newcomers to conquer large markets through innovative approaches.

Numbers of Internet, social media and mobile users in Indonesia in January 2017

Rising Internet connectivity and use of mobile devices make many sectors even more attractive that they were previously hindered by Indonesia’s infrastructure challenges. The very solvable financial services therefore become some of the most interesting opportunities for entrepreneurs to build fast growing applications like this mobile payment startup in the Philippines.

Fintech startups ready to conquer Indonesia

Some key numbers highlight the needs and interests to develop new innovative financial services in Indonesia.

  • A young population of more than 250 million people, that makes Indonesia the most populated country in Southeast Asia and fourth most populated in the world.
  • A large part of the population is living in rural or remote areas and have little access to financial services, banks and insurances.
  • In general, banking and financial services have a low penetration in Indonesia.
  • A large and fast growing population online and using mobile phones.

Eyeing these numbers and trends, Indonesia’s FinTech startups are creating innovative technological applications to develop or disrupt the following financial markets:

  • personal finance and investment
  • payment
  • point of sale systems
  • lending
  • accounting
  • comparison
  • crowdfunding
  • cryptocurrency

With some key characteristics about the country, the following slide deck presents the main startups of FinTech in Indonesia.

Fintech Indonesia startup report – summary


  • Global index – slide 4
  • Indonesia country overview – slide 5
  • Indonesia population structure by age – slide 6
  • Indonesia Internet users – slide 7
  • Online activities in Indonesia – slide 8
  • Media: Fintech News in Indonesia – slide 9


Overview – slide 12

Personal finance and investment – slide 14

Payment – slide 18

Point of sale systems – slide 34

Lending – slide 40

Accounting – slide 48

Comparison – slide 52

Crowdfunding – slide 61

Cryptocurrency – slide 66

Slidedeck from October 2016 by Christian Konig

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