IDC Financial Insights today released the 2020 update of its FinTech Fast 101 research which details a list of fast-growing fintechs in Asia/Pacific excluding Japan (APEJ) from 11 key markets.
IDC’s FinTech Fast 101 research refers to fast-growing fintech players based on extensive on-ground analysis of fintech players from China, India, Indonesia, Singapore, Hong Kong, Thailand, Malaysia, the Philippines, Vietnam, South Korea, and Australia.
10 Fast Growing FinTechs in Indonesia
AKULAKU
Akulaku is focused on e-commerce and online financial services in Southeast Asia. They have established offices in five countries, providing localised services to users, including online shopping and instalment. Akulaku is the first ever online instalment shopping mall.
AMARTHA
Operating since 2010, Amartha’s platform focuses on investors funding rural micro-enterprises through lending, providing investors with potential returns, and social impact. Amartha mitigates default risk by joint liability group, life insurance, and credit insurance. Investors can also monitor their funding activities through Amartha’s dynamic dashboard.
BAREKSA
Bareksa.com is the first integrated online mutual fund marketplace in Indonesia, under PT Bareksa Portal Investasi which was established on February 17, 2013. This portal, in addition to providing a platform to conduct mutual fund trading online, also provides data services, information, and investment tools of mutual funds, stocks, bonds, and others, to facilitate the public to invest.
CEKAJA.COM
CekAja.com is the finest and most comprehensive financial store in Indonesia that provides loan, credit card, investment and insurance services to over 20 million customers, and is committed to providing access to financial services throughout Indonesia.
DANA
DANA is a technology company, a highly secured and scalable payment service platform in Indonesia.
GOPAY
GO-JEK (PT. Aplikasi Karya Anak Bangsa) is an Indonesian-owned and run technology start-up that specialises in ride-hailing, logistics and digital payments. GO-PAY is not only to pay for GO-JEK services but also available to help you with new features and products. In October 2017, GO-PAY transactions have contributed 30 percent of overall e-money transactions in Indonesia.
INVESTREE
Investree is a financial technology company in Indonesia with a simple mission: as an online marketplace that brings together people who have funding needs with people who are willing to lend their funds. Not only do we increase our lenders, we also make loans more affordable and accessible to Borrower.
LINKAJA
LinkAja is an application-based electronic financial service.
OVO
OVO (PT Visionet Internasional), a fintech startup that builds a digital platform aiming to simplify your life by providing amazing rewards & deals through our merchant partners, simple payment and smart financial services. In December 2017, Ovo officially announced their partnership with GrabPay in Indonesia.
UANGTEMAN
UangTeman offers micro loans in Indonesia for both consumer and business needs. It is currently available in Jabodetabek, Yogyakarta, Solo, Magelang, Klaten, Bandung, Surabaya, Semarang, Bali, Makassar, Palembang, Lampung, Jambi dan Balikpapan.
Note: The list is arranged alphabetically. Source: IDC, 2020
