Indonesia’s fintech industry has experienced rapid growth over the past years, driven by widespread adoption of digital financial services among consumers and businesses, supportive government strategies promoting financial innovation, and strong investor interest in the sector.
Fintech consistently ranks among investors’ top tech sectors in Indonesia. In 2024, Indonesian fintech companies secured a total of US$141 million through 23 transactions, accounting for 32% of total equity funding and 27% of deals. The figures made fintech the largest startup category by both funding and deal count.
At the regional level, Indonesia is also a key player in fintech investment, consistently securing one of the largest shares of funding in Southeast Asia. Since at least 2018, the country has ranked among the top three recipients of fintech funding in Southeast Asia, accounting for between 12% and 40% of the region’s fintech funding and deal activity. In 2024, Indonesia ranked third in fintech funding and second in deal volume, capturing an 18% and 17% share, respectively.
Within this thriving ecosystem, several companies have become investor favorites, recognized for their innovation, growth, and strong market traction. These leading players are now scaling beyond Indonesia, expanding across the region with new products and continued innovation. Today, we take a look at the most well-funded fintech startups from Indonesia, highlighting their value propositions and recent strides.
Akulaku – US$522 million
Akulaku has raised about US$522 million in equity raised to date, making it Indonesia’s most well-funded startup. Its latest round was a US$200 million round from Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan, announced in December 2022 and aimed at expanding its market reach and product portfolio across Asia.
Akulaku is a leading banking and digital finance platform in Southeast Asia, with a presence in Indonesia, the Philippines, Thailand, and Malaysia. Founded in 2016, Akulaku started out by offering buy now, pay later (BNPL) services in its home market before branching out to peer-to-peer (P2P) lending under its Asetku brand and digital banking under Bank Neo Commerce. It now offers digital credit, digital banking and other financial services, serving more than 10 million.
Akulaku is valued at US$2 billion, making it the most valuable fintech startup in Indonesia, and the second most well-funded tech startup in the country. In 2024, it reported a 14% increase in revenue, reaching US$53 million, with profits before tax and income expenses totaling US$4.5 million, according to Tech in Asia.
This year, Akulaku was named among CNBC World’s Top Fintech Companies List, recognized for its innovation, growth, and impact in delivering inclusive, technology-driven financial services across Southeast Asia.
Xendit – US$515 million
With about US$515 million in equity funding raised, Xendit is Indonesia’s second most well-funded private fintech companies in Indonesia. Its largest funding rounds include a US$$300 million Series D in May 2022 and a US$$150 million Series C in September 2021.
Xendit is a payment gateway that simplifies payments for businesses across Asia. The platform enables businesses to accept payments, disburse payroll, and manage financial operations through integrations supporting virtual accounts, credit and debit cards, e-wallets, and retail outlets.
Xendit currently processes more than US$70 billion in payments and more than 500 million transactions annually across seven Asian markets, serving clients such as Meta, Starbucks, Samsung, TikTok, and Shopee.
This year, the company completed the full acquisition of Payex, a Malaysian payment gateway licensed by Bank Negara Malaysia, to strengthen its presence in Southeast Asia. It plans to expand into Mexico and Colombia by the end of 2025, followed by Chile, Argentina, and Brazil in 2026. Xendit also plans to begin operations in the US and Australia in the second quarter of 2026.
Xendit is among Indonesia’s unicorn startups.
Kredivo Group – US$390 million
With about US$390 million in equity raised, Kredivo Group is the third most well-funded private fintech company in Indonesia. Its latest round was a US$270 million Series D equity round secured in 2023 to support the launch of its digital bank Krom Bank.
Formerly known as FinAccel, Kredivo Group operates through its brands Kredivo, KrediFazz, and Krom Bank. Kredivo and KrediFazz are leading digital credit platforms in Indonesia and Vietnam, offering instant credit financing for e-commerce and offline purchases, and personal loans, based on real-time decisioning. Krom Bank, formerly Bank Bisnis Internasional, is the group’s digital bank.
In February 2025, Kredivo Group announced the full acquisition of GajiGesa, Indonesia’s leading earned wage access (EWA) platform. The move marks its entry into the growing EWA market, and is in line with the group’s mission of providing fast, affordable and widely accessible financial services to its customers.
Kredivo Group is backed by leading financial and strategic investors such as Mizuho Financial Group, Square Peg Capital, Jungle Ventures, Naver Corp, Mirae Asset and Victory Park Capital among others. Headquartered in Jakarta, Kredivo Group also has offices in Singapore, Vietnam, the Philippines, Thailand, and India.
Dana – US$250 million
Digital wallet Dana has secured a total of US$250 million in disclosed VC funding, data from Dealroom show, making it the fourth most well-funded fintech startup in Indonesia. Dana secured its latest round in August 2022, raising US$250 million from local conglomerate Sinar Mas to expand in its home country and invest in new tech and new financial services.
Dana is a digital wallet that provides payment infrastructure and financial services in Indonesia. The platform allows users to transact with ease, send money, pay bills, make e-commerce purchases, and more.
Since its launch in December 2018, Dana has reached more than 200 million users in Indonesia. The company is worth US$1.13 billion, making it the second most valuable fintech startup in Indonesia.
Ajaib – US$245 million
With about US$245 million in equity funding raised, Ajaib is the fifth most well-funded fintech startups in Indonesia. Its latest round was a US$153 million in a funding round in October 2021 to recruit talent and launch educational campaigns.
Founded in 2019, Ajaib is a rapidly growing investment platform in Indonesia that allows users to trade stocks, exchange traded funds (ETFs) and mutual funds. It targets first-time millennial investors with its mobile-first approach, low fees, and user-friendly interface.
Ajaib also offers advanced features for stock traders and investors, providing a premium service called Ajaib Prime that comes with personalized advice and margin trading.
Ajaib said in July 2023 that it recorded 3 million retail investors for its stock trading and Ajaib Crypto products in the first half of 2023, a 50% increase from November 2022. It sats it is one of the largest brokerages by the number of transactions in Indonesia.
Ajaib backed by top investors like DST Global, Horizons Ventures, and Alpha JWC Ventures. It’s one of Indonesia’s unicorn startups.
Triv – US$200 million
Triv, a digital asset trading platform, secured in August 2025 US$200 million from MEXC Ventures, the investment division of the global cryptocurrency exchange MEXC. The investment made Triv the sixth most well-funded private fintech companies from Indonesia.
Founded in 2015, Triv is a licensed crypto trading platform offering spot, staking, and futures trading services under the supervision of both Indonesia’s Financial Services Authority (OJK) and the Commodity Futures Trading Regulatory Agency (BAPPEBTI). The company claims more than three million registered users and over 1,000 crypto assets available for trading.
Triv is currently valued at US$200 million.
Bibit – US$190 million
With US$190 million in equity funding raised so far, Bibit is the seventh most well-funded private fintech company from Indonesia. Bibit’s latest funding round was a US$80 million secured in May 2022 to launch new products and services.
Launched in 2019 by Stockbit, Bibit is a robo-advisory investment app that allows users to build a personalized portfolio. It aims to democratize investing in the country’s capital market, as well as enabling its users to invest in diversified asset classes.
Stockbit, founded in 2013, operates as an investment and stock trading app serving Indonesia’s millennial investor base. The app does not require a minimum deposit, offers low trading fees, and uses strong security systems.
Stockbit also helps new investors learn through its Stockbit Academy, which offers video lessons and discussion sessions, both online and offline. Other tools offered by the app include Chartbit Tools, Broker Flow, Fast Order, and Portfolio Performance, which help users make smarter investment decisions.
In August 2025, Stockbit recorded the highest number of trades and largest transaction volume on the Indonesia Stock Exchange (IDX), handling over 976,000 transactions worth IDR 3.32 trillion (US$200 million) in a single day. It claims to lead all 95 securities companies in the country in terms of trading activity in 2025, with over 58 million transactions made on the platform.
Featured image: Edited by Fintech News Indonesia, based on image by EyeEm via Freepik
