17 Best Financial Services Startups in Indonesia to Watch in 2025

The Definitive Seedtable Ranking of Financial Services Startups in Indonesia

We track 71,000+ companies and rank them dynamically using our Seedtable Score – a score that uses quantitative and qualitative data points to signal the momentum behind a company. We then monitor the list manually leveraging our expertise as founders and investors.

There are 17 start-ups with an aggregate funding of $1.6b. The average funding per company in this subset is $95.2m.

Last update to the database: Feb 18, 2025. See changelog.

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1

Funding Rounds

$100.0k

Money raised

Narfex is a DeFi market exchange.

8

Funding Rounds

$814.7m

Money raised

Xendit is a company providing payments infrastructure in Indonesia and South East Asia. It can detect and receive payments from all banks.

Location:

Key people:

5

Funding Rounds

$245.1m

Money raised

Ajaib provides an online wealth management platform helping Indonesians protect and grow their money. It participated in the YC S18 cohort of Y Combinator.

Location:

Key people:

4

Funding Rounds

$150.5m

Money raised

Aspire is a company founded in 2018 by Giovanni Casinelli, Joel Leong, Andrea Baronchelli, Giacomo Ficari and Stefano Pellegrino.

2

Funding Rounds

$22.5m

Money raised

Gotrade is a Singapore-based financial services company that enables people in 150 countries to invest commission free in fractional US stocks.

3

Funding Rounds

$144.5m

Money raised

Koinworks is an Indonesia Super Financial App that provides both investment and liabilities products under single platform

Industries:

Location:

2

Funding Rounds

ALAMI Sharia is a P2P Lending company that was founded in 2018

1

Funding Rounds

$53.0m

Money raised

PayFazz is a financial technology development company in Indonesia founded in 2016 by Hendra Kwik.

Industries:

Location:

Key people:

1

Funding Rounds

PT. Cicil Solusi Mitra Teknologi is a company founded in 2016 by Leslie Lim.

2

Funding Rounds

$70.0m

Money raised

BukuWarung is an accounting app for micro-merchants in Indonesia founded in 2019 by Abhinay Peddisetty.

Location:

Key people:

2

Funding Rounds

Pawoon is a company founded in 2014.

1

Funding Rounds

$2.8m

Money raised

Finku is a Jakarta-based company founded in 2021 by Shyam Kalairajah, Reinaldo Tendean and Shylla Pramadhani.

2

Funding Rounds

$22.0m

Money raised

UangTeman is a company founded in 2014.

2

Funding Rounds

InfraDigital Nusantara is a Jakarta-based company founded in 2017.

1

Funding Rounds

$2.2m

Money raised

SkorLife is a Jakarta-based company.

Location:

2

Funding Rounds

$66.0m

Money raised

PasarPolis is a company founded by Cleosent Randing.

1

Funding Rounds

$25.0m

Money raised

ONLINEPAJAK is a Jakarta-based company founded in 2014 by charles guinot.

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