You sure have heard about Go-Pay, Modalku, Dana, Doku, the omnipresent OVO, or Kredivo. In the last two years, all of these names have made news for raising funding or foraying into new partnerships, and even one of them is being owned by one of the country’s top unicorn.

Scraping the surface and taking a deeper look into the fintech ecosystem in the country, we learn that not only there are a great number of fintech companies operating under the media radar, but there is also a great variety of solutions being offered to the archipelago.

We’ve filtered some of the names we can find, and here are the 10 honorable mentions of fintechs that have the potential to be the next big thing.


Starting with the less obvious: DanaLaut. DanaLaut directly addresses the pain points of the maritime country, which is access to equity for cultivating the sea resources.

DanaLaut offers a platform where users, either loaner or borrowers, can help facilitate sea resource-related business.

Through its scoring system for risk management as well as an updated portfolio for progress and funding allocation, DanaLaut ensures the safety and transparency of doing a transaction on its platform. Borrowers won’t be charged for interest and loaner can be involved in a transaction with attractive profit sharing.

Dana Bijak

Dana Bijak offers simpler options to apply for loans, in which the applicants can choose the number of loans and the duration they wish to have and how much they will have to pay back.

Dana Bijak translates into “wise funding” in Indonesian. It uses Artificial Intelligence to process the application and show the results within 24 hours. Once approved, the credit will be transferred into the applicant’s bank account within 48 hours.

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Apart from simplicity, speed and safety are also on the cards for Dana Bijak. As long as the applicants are 21+ years old and earn at least US$114 as its main requirements, then the applicants should be able to access the credit with no hiccups.

Dana Bijak’s platform also provides education through financial courses on how to manage credit to have a healthier interest loan and a point system for good credit behaviour.

In January 2018, e27 reported that Dana Bijak made it to second batch of Plug and Play Indonesia Accelerator programme along with the other 12 startups from multiple sectors.


Disitu brands itself as a credit marketplace. Through its financial institution-integrated platform, credit companies can advertise their financial products offering to consumers. Consumers, on the other hand, can see and compare the available financial products before choosing one.

The integration, the company said, allows it to show the actual prices of each financial product featured in a real-time process. The products include unsecured loans, equity loans, and others.

It also offers a preview of how much borrowers must pay for the credit they apply for, to make sure they don’t borrow more than they can pay. With citizen ID card as a warranty for the loan applied, the credit can be processed instantly.


GandengTangan is short-term online funding with affordable and safe equity, aims to connect micro-businesses with investors that want to invest in businesses with social impact.

GandengTangan, which is Indonesian for “holding hands”, filters the micro-businesses that seek to receive funding from as little as US$3.55. Then, when the process is done and the investors have been paired up with the micro-businesses, the investors will get its investment back periodically in instalments until it’s paid back in full.

In April 2017, e27 reported that GandengTangan has raised an undisclosed amount of seed funding from angel investor Mariko Asmara Yoshihara, Chairman of JAC Recruitment Indonesia.


A payment gateway application for easier transactions, Rupi facilitates electricity token, phone credit and internet data purchase, game voucher, and travel tickets purchase, as well as the electricity bill, water bill, government insurance bill, and multi finance payment in one app in real-time.

What differentiates it from other e-payment app is that it guarantees the most affordable price for all payment needs with lifetime cashback and it facilitates cash, real-time, top-up, in the nearest top-up centre. It also allows all Rupi’s users to transfer their balances to each other into their Rupi’s account, directly or using in-app QR code.


Using the social gathering concept known as “arisan” in Indonesia, Mapan allows users to get together and collectively purchase quality and affordable items.

Mapan’s get-together is meant to help users to easily access goods in guaranteed quality. Using what is called a collective economic strength, the more members users manage to gather, the more affordable the price of the items become.

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By becoming a group leader in a collective online gathering on Mapan, an individual can also gain extra income via commission from the value total of purchased goods by each of the groups.

The startup has been acquired by ride-hailing unicorn Go-Jek in 2017.


SPOTS stated its mission as “facilitating entrepreneurs in Indonesia to be able to run their business better and easier”.

Its POS system also provides a variety of features to help any kind of business operation. It seeks to tackle challenges such as managing online and offline orders, the limitation in accessing cashless payment, and keeping transaction records for entrepreneurs with next to no resources.


Propertree singles out itself to focus on property investment in Indonesia. It seeks to create inclusivity in property investment.

It does so by facilitating the digitalisation of equity-heavy property investment into becoming a more affordable investment.

By signing up, investors can immediately deposit money and choose from an array of projects available on its platform. The projects are residential, long term property that offers a maximum return, construction projects with a shorter, more competitive return, rent project that allows for collective ownership to get a double return from the leasing fee per month and future asset selling price, or flip project that allows a normal price return.


Julo says that it seeks to revolutionise access to financial products through its digital data-based lending method. It also allows an in-app risk assessment to process consumers’ credit applications to determine loan eligibility.

Julo was founded in 2016 and has since expanded from Jakarta to other cities in Indonesia.
In May 2018, Julo raised US$5 million in a Series A funding round led by Skystar Capital and East Ventures. Gobi Partners, Convergence Ventures, Provident Capital, Central Capital Ventura, Heyokha Brothers, and other investors also participated in the funding round.


DokterDana is the Indonesian for “financial doctor”, focusses on providing information and updates in the financial industry in the country. It also facilitates loan search and matches on its app.

DokterDana said that from the service side, it seeks to help borrowers finding the most suitable and accurate loan service while also help banks and finance companies to find reliable customers. Using its matching service, DokterDana becomes a fully authorised platform for borrowers to get the most suitable option from a pool of credit services.

Also Read: Fintech and banks: collaboration or competition?

Although the road is still long and untrodden for these companies to catch up with the big names, all of them keep on growing at an optimistic pace with its solutions. The next time we hear about them could be the time they get more funding to go even bigger than they are already now.

Image Credit: Sharon McCutcheon on Unsplash