Best Alternative Lending Companies in Indonesia
The 134 best Alternative Lending companies in Indonesia in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Akulaku.
$2.4 billion in disclosed funding across 134 tracked companies tells you something real about what Alternative Lending in Indonesia has become. This directory ranks those companies by equity raised and recent funding momentum, and the numbers at the top are hard to ignore. Akulaku alone has pulled in $430 million. Modalku sits at $66 million, AwanTunai at $56 million, Amartha at $53 million. That's not a cluster of early bets. That's a functioning capital stack, and it reflects how seriously investors, including East Ventures, AC Ventures, and Accion, are treating this market.
So what's actually driving it? Unbanked and underbanked populations across the archipelago still can't access credit through traditional channels, and alternative lenders are filling that gap for both individuals and businesses. The global alternative lending market is expanding at a 14.4% CAGR, and Indonesia's trajectory fits that pattern. Indonesia's regulatory environment, shaped by OJK oversight of peer-to-peer platforms, adds friction but also filters out weaker players. I'd argue that's part of why three unicorns have already emerged from this field. If you're trying to understand where the real scale lives, the funding figures here are your clearest signal, and demystifying how online alternative lending actually works is a useful place to start building context.
Ranked: Best Alternative Lending companies in Indonesia
| # | Company | Disclosed funding | Last round | Employees | Founded | Tech stack | Web popularity | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Akulaku 🦄 Online marketplace for point of sale financing | $430M | 26 mo ago | 876 | 2014 | SentryNode.jsElement UI+12 | Top 50k | — |
| 2 | Kredivo 🦄 Provider of an app-based platform for purchase financing | $410M | 39 mo ago | 1,134 | 2015 | WordPressMySQLPHP+23 | Top 500k | — |
| 3 | Kredivo Holdings 🦄 Provider of a consumer lending platform for financial applications | $390M | 39 mo ago | — | 2015 | WordPress Block EditorWordPressMySQL+27 | Top 5M | 1 award |
| 4 | Investree Online P2P lending platform for business loans | $254M | 32 mo ago | 321 | 2015 | Wix eCommerceWixSentry+11 | Top 5M | — |
| 5 | TrustIQ Provider of consumer loans | $105M | 40 mo ago | 5 | 2018 | WordPressTypeScriptPHP+18 | Top 500k | — |
| 6 | JULO Online marketplace for personal loans | $105M | 50 mo ago | 537 | 2016 | DrupalPHPTailwind CSS+17 | Top 500k | 7 job openings |
| 7 | KoinWorks Developer of a P2P lending platform | $93M | 53 mo ago | 651 | 2015 | WordPressMySQLPHP+19 | Top 1M | — |
| 8 | HaloMoney Financial products and services comparison platform | $90M | 107 mo ago | — | 2013 | — | — | — |
| 9 | Modalku P2P marketplace for business loans | $66M | 21 mo ago | 161 | 2016 | WordPressMySQLPHP+22 | Top 5M | — |
| 10 | Honest Provider of a digital credit card with simplified fees and features | $61M | 8 mo ago | 144 | 2019 | WebflowGSAPSplide+17 | Top 500k | — |
| 11 | AwanTunai Provider of supply chain digitization by ERP systems with embedded financing | $56M | 18 mo ago | 179 | 2017 | WordPressMySQLPHP+35 | Top 5M | — |
| 12 | Amartha Microfinance P2P lending platform | $53M | 12 mo ago | 7,517 | 2010 | WordPressMySQLPHP+23 | Top 500k | 1 award |
| 13 | Akulaku Finance App-based platform for consumer loans | $49M | 9 mo ago | — | 2016 | Node.jsYouTubeTailwind CSS+5 | Top 5M | — |
| 14 | Wagely Provider of an online platform for payday loans | $37M | 27 mo ago | 107 | 2019 | WordPressMySQLPHP+33 | Top 5M | 3 partnerships |
| 15 | AdaKami App-based platform for personal loans | $32M | 19 mo ago | 137 | 2018 | WordPressMySQLPHP+22 | Top 500k | 1 award |
| 16 | UangMe P2P lending for personal loans | $32M | 32 mo ago | 127 | 2018 | Node.jsGoogle MapsHeadless UI+11 | Top 5M | — |
| 17 | Alami Sharia Online P2P lending marketplace offering diversified loans to businesses | $19M | 32 mo ago | 444 | 2017 | WordPressMySQLPHP+24 | Top 5M | — |
| 18 | SGMW Multifinance Digital lending platform offering vehicle financing | $19M | 25 mo ago | — | 2018 | WordPressMySQLPHP+13 | Top 10M | — |
| 19 | Komunal Internet-first bank offering digital banking services for rural communities | $16M | 30 mo ago | 180 | 2018 | Tailwind CSSReactGatsby+11 | Top 50M | — |
| 20 | UangTeman Online platform for consumer & business loans | $12M | 76 mo ago | 80 | 2014 | — | — | — |
| 21 | Gaji Gesa Online financial wellness platform for employees | $9M | 54 mo ago | 97 | 2020 | WordPressMySQLPHP+32 | Top 5M | 1 partnership |
| 22 | Acceleration P2P lending platform for business loans | $9M | 80 mo ago | 136 | 2016 | Node.jsJavaSemantic UI+20 | Top 5M | — |
| 23 | Pintek Online marketplace for consumer & business loans | $8M | 54 mo ago | 113 | 2018 | Node.jsAnt DesignNext.js+15 | Top 5M | — |
| 24 | Taralite Online marketplace for working capital loans | $6M | 109 mo ago | 11 | 2015 | — | — | — |
| 25 | SkorLife Developer of a platforms offering credit score checks | $6M | 17 mo ago | 10 | 2021 | ZohoGoogle Font APIZoho Mail+6 | Top 500k | — |
| 26 | Ringkas Provider of a digital platform for home loan applications | $6M | 13 mo ago | 43 | 2021 | WordPressMySQLRedis+30 | Top 5M | — |
| 27 | Dana Cita Provider of an online platform for education loans | $5M | 63 mo ago | — | 2017 | WagtailPythonFirebase+26 | Top 1M | — |
| 28 | CICIL Financing platform for students for buying products | $5M | 94 mo ago | 588 | 2016 | TypeScriptTailwind CSSZone.js+11 | Top 5M | — |
| 29 | Kini Online platform for employee's financial benefit | $4M | 47 mo ago | 10 | 2021 | WordPressMySQLPHP+16 | Top 50M | — |
| 30 | IDEAL Online lending marketplace for mortgage loans | $4M | 46 mo ago | 28 | 2021 | Node.jsFirebaseTailwind CSS+20 | Top 5M | — |
| 31 | Finfra Provider of embedded finance infrastructure for digital businesses | $4M | 19 mo ago | 5 | 2022 | WebflowjQueryHSTS+8 | Top 50M | — |
| 32 | Cermati Comparison platform for financial products | $3M | 61 mo ago | 382 | 2014 | WordPressMySQLPHP+36 | Top 500k | 2 job openings · 1 partnership |
| 33 | PasarMIKRO Developer of an online platform for point-of-sale financing | $2M | 34 mo ago | 38 | 2020 | WordPressMySQLPHP+16 | Top 5M | 1 expansion |
| 34 | Nikel API-enabled lending and loan management solution for banks and financial institutions | $2M | 50 mo ago | 38 | 2018 | WordPressMySQLPHP+22 | Top 50M | — |
| 35 | Pendanaan Platform for short term mobile-based loans | $1M | 103 mo ago | 61 | 2016 | ReactReact RouterVue.js+8 | Top 10M | 2 job openings |
| 36 | Indofund.id Online P2P marketplace for business loans | $485K | 69 mo ago | — | 2018 | Chart.jsGoogle MapsBootstrap+12 | Top 10M | — |
| 37 | Lunash AI-based debt collection platform for financial institutions | $125K | 28 mo ago | — | 2023 | — | — | — |
| 38 | iGrow Agriculture investment and crowdfunding platform | $125K | 119 mo ago | 52 | 2014 | Node.jsAmazon ALBAmazon Web Services+15 | Top 10M | — |
Top 12 Alternative Lending companies in Indonesia
#1
Series B · Jakarta, Jakarta · founded 2019 · 144 employees$61.2Mraised▾
Provider of a digital credit card with simplified fees and features. It offers a streamlined application process and manages card details through a dedicated app. The card aims to provide transparency by charging a single administrative fee, eliminating annual fees and other hidden charges. Payment flexibility is a key feature, allowing users to manage their payments according to their needs. Security is enhanced through a "numberless" card design, with all essential card information accessible only within the app. The card is accepted at numerous online and offline merchants.
- Oct 2025Series B—
- Oct 2025Conventional Debt$40M
- May 2024Series B$2.5M
- Nov 2023Series B$19M
#2
Funding Raised · Jakarta, Jakarta · founded 2016$49.2Mraised▾
App-based platform for consumer loans. It offers multiple loan products including online shopping financing providing shop now, pay later facilities, multi-purpose financing providing car loans, and more. The application is available on the Android and IOS platforms.
- Aug 2025Conventional Debt$12.2M
- Dec 2024Conventional Debt$37M
#3
Series C · Jakarta, Jakarta · founded 2010 · 7517 employees$53Mraised▾
Microfinance P2P lending platform. It is an Indonesia-based P2P lending platform that connects micro-entrepreneurs and SMEs with investors. It allows individual as well as institutional investors to invest on their platform. The borrowers post the listing on the platform specifying the amount and the tenure for the loan. The lenders can browse and choose the desired listings.
- Jun 2025Conventional Debt$55M
- Jun 2024Series C$17.5M
- Jun 2023Conventional Debt$100M
- Jun 2021Series C$7.5M
#4
Series B · Jakarta, Jakarta · founded 2017 · 179 employees$55.8Mraised▾
Provider of supply chain digitization by ERP systems with embedded financing. Its ERP infrastructure captures proprietary transaction data that fuels the inventory purchase embedded financing. It serves traditional suppliers with an ERP system and traditional micro merchants with an Android app. Both suppliers and merchants are able to access embedded financing to purchase inventory. It has DFIs (including the IFC) and CVCs of global banks as inventors. It positions itself as the asset origination platform for the banking industry to access market segments
- Dec 2024Conventional Debt$60M
- Mar 2024Series B$27.5M
- Mar 2022Series A$8.5M
- Aug 2021Series A$11.2M
#5
Series C · Jakarta, Jakarta · founded 2016 · 161 employees$66.2Mraised▾
P2P marketplace for business loans. It offers a platform that enables businesses to lend and borrow money with customized terms, amounts, and repayment options. It features multiple loan products including microloans, invoice financing, and more. Users must add the required details and apply for the loan. Once approved, the funds are transferred to the registered bank account.
- Sep 2024Conventional Debt—
- Nov 2023Conventional Debt$7.5M
- Sep 2023Conventional Debt$27M
- Jun 2022Conventional Debt$7M
#6
Akulaku 🦄Series E · Jakarta, Jakarta · founded 2014 · 876 employees$430Mraised▾
Online marketplace for point of sale financing. It provides financing for multiple online/offline products including mobiles, laptops, electrical household appliances, and more. It enables users to make installment payments via credit/debit cards. The application is available on iOS and Android platforms.
- Mar 2024Conventional Debt$100M
- Dec 2022Conventional Debt$200M
- Mar 2022Conventional Debt$10M
- Feb 2022Series E$100M
#7
Seed · Jakarta, Jakarta · founded 2021 · 43 employees$5.8Mraised▾
Provider of a digital platform for home loan applications. It simplifies the home loan process by connecting homebuyers with banks and financial institutions. The platform offers features such as online application submission, instant pre-qualification, and assistance from agents throughout the process. It aims to make homeownership more accessible and efficient through technology. The platform also provides tools to help users estimate loan amounts and monthly installments.
- May 2025Seed$5.1M
- 2024Seed—
- May 2023Seed$3.5M
- May 2022Seed$2.3M
#8
Funding Raised · Jakarta, Jakarta · founded 2018 · 137 employees$32Mraised▾
AdaKami provides an app-based platform for personal loans. Users can register via ID cards and personal documents. The app is available on iOS and Android devices.
- Oct 2024Conventional Debt$32M
#9
Seed · Jakarta, Jakarta · founded 2021 · 10 employees$6.2Mraised▾
Developer of a platforms offering credit score checks. Its platform contains advice, tools, and access to suitable financial products that enable users to improve their credit score and look up the status of installment payments, pay later loans, and credit cards.
- Jan 2025Seed$6.2M
- May 2023Seed$4M
- Sep 2022Seed$2.2M
#10
Series D · Jakarta, Jakarta · founded 2015 · 321 employees$254.3Mraised▾
Online P2P lending platform for business loans. It connects borrowers directly with the lenders. The borrowers apply on the platform and post-approval the loan application is displayed on a marketplace and lenders can choose from among these listings based on their criteria. Its app is available across Android and IOS platforms.
- Oct 2023Series D$230.8M
- Oct 2021Conventional Debt$10.5M
- Nov 2020Conventional Debt$15M
- Apr 2020Series C$23.5M
#11
Series D · Jakarta, Jakarta · founded 2015$390Mraised▾
Provider of a consumer lending platform for financial applications. It provides users with a company that offers consumer-focused purchase financing, instant cash loans, and more. Loans can be accessed through an app-based platform that is available on iOS and Android devices.
- Mar 2023Series D$270M
- Oct 2022Series D$140M
- Sep 2021Series C$125M
- Jun 2021Conventional Debt$100M
#12
Kredivo 🦄Funding Raised · Jakarta, Jakarta · founded 2015 · 1134 employees$410Mraised▾
Provider of an app-based platform for purchase financing. It enables users to make instalment payments for online/offline products at partnered stores. It also provides solutions to businesses for facilitating purchase financing. Its app is available on iOS and Android devices.
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Alternative Lending coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
Common questions
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.