Industry landscapes
Industry report

Funding and advertised pay are reported in USD; filed accounts retain their stated source currency and basis.

Exchange-rate basis

Indicative conversions use ECB reference rates dated 2026-09-14, applied consistently across all periods. They are not historical exchange rates. Indian rupees may use crore (1 crore = 10 million); other currencies use K, M and B. CSV downloads, source documents and quoted news headlines retain their original currencies.

THE INDONESIA EDITION 2026

Indonesia’s
financial services industry,
in focus.

The companies, capital and talent shaping financial services in Indonesia. Find the leaders. Understand the segments. See where the activity is.

Snapshot: Funding in USD
Illustrated cover for Financial Services Industry Landscape of Indonesia
ID
COMPANIES · CAPITAL · TALENT

An industry ecosystem,
measured in context.

Financial Services illustration
MEET THE COMPANIES

Explore Indonesia’s financial services leaders

24 featured companies from the funding, hiring, revenue and team-size leaderboards.

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Financial Services company highlights in Indonesia, snapshot 1 September 2026
Company
Asuransi Jiwasrayatimlikuidasi.jiwasraya.co.id$705.46M
Home Credithomecredit.co.id$170.5M
Batumbubatumbu.id$17.57M
Esta Dana Venturaestadanaventura.co.id$15.3M
Koperasi Mitra Dhuafamitradhuafa.com$12.59M
SkorLifeskorlife.com$12.4M10
MBKmbk-ventura.com$11M
Ringkasringkas.co.id$10.9M43
Pacific Life Insurancepacificlife.co.id6 roles
Artaxartax.id4 roles
Cnafcnaf.co.id3 roles
Relevance and Alliance Capitalracapital.co3 roles
tob Insurancetob-ins.com3 roles
Amar Bankamarbank.co.id2 roles
Asosiasi Blockchainasosiasiblockchain.co.id2 roles
CIMB Niagacimbniaga.co.id2 roles
Bank Central Asiabca.co.id25,439
Bank Indonesiabi.go.id
Bank Mandiribankmandiri.co.id38,307
Bank Megabankmega.com4,774
Bank Muamalatbankmuamalat.co.id3,112
Bank Negara Indonesiabni.co.id27,803
Bank Rakyat Indonesiabri.co.id60,683
Bank Syariah Indonesiabankbsi.co.id
24 featured companies

Locked revenue figures are available in Radar; the eight company financial previews stay the same throughout this page. A dash means the figure is outside these featured lists. Revenue years vary by company; the figures are not a like-for-like revenue comparison. Compare annual accounts ↗

Company discovery

Recorded evidence only

Explore the live startup set in Radar

No company example met every recorded classification, independence and public-profile gate in this snapshot. The live directory may have newer qualifying companies.

Explore classified startups in Radar ↗
THE KEY SIGNALS

Financial Services industry KPIs in Indonesia

A few useful ratios bring the size of this ecosystem into perspective.

1 September 2026
Hiring participation6.1%

40 of 659 tracked companies have open roles.

Funding participation2.6%

17 of 659 tracked companies have a recorded round.

Top 3 funding share92.5%

Share of disclosed capital received by the three largest recorded recipients.

Median disclosed round$5.1M

Midpoint of 20 rounds with a disclosed amount.

Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 92.5% of disclosed capital, while 97.4% of tracked companies have no recorded funding round.

Explore the segments →
CAPITAL & COMPANY FORMATION

How Indonesia financial services has grown

Recorded company formation and disclosed funding across the complete annual series shown.

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2016 — 2025

Disclosed funding by year

Sum of recorded funding rounds · USD

Indonesia financial services
$0$220.09M$440.19M$660.28M$880.38M2016: $020162017: $020172018: $3.5M20182019: $2.4M20192020: $772.26M20202021: $7.13M20212022: $18.05M20222023: $107.5M20232024: $32.87M20242025: $11.3M2025
View the numbers
Annual financial services funding and company formation in Indonesia
YearFunding (USD)FoundedRaising
2016$0230
2017$0230
2018$3.5M261
2019$2.4M251
2020$772.26M194
2021$7.13M191
2022$18.05M155
2023$107.5M153
2024$32.87M92
2025$11.3M32
WHERE CAPITAL SITS

Funding concentration

Share of all disclosed company funding.

  • Asuransi Jiwasraya73.0%
  • Home Credit17.6%
  • Batumbu1.8%
  • Other companies7.5%

Funding by stage

27 recorded rounds since 2016

NUMBER OF ROUNDS
Seed & Angel11 40.7%
Series A–B4 14.8%
Series C+ / PE0 0.0%
Grants, debt & other12 44.4%

Recent recorded rounds

Latest recorded rounds · USD
0 rounds

Swipe or scroll horizontally to browse.

Largest and notable recorded rounds

Each card is one recorded round
10 cards

Swipe or scroll horizontally to browse.

THE BUSINESS BEHIND THE ACTIVITY

Revenue, profitability & financial strength

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Annual accounts availability

No reviewed exact national-ID connector has yet been qualified for Indonesia; this is a checked implementation boundary, not evidence that filings are absent.; No reviewed exact national-ID connector has yet been qualified for Indonesia; this is a checked implementation boundary, not evidence that filings are absent.

DIGITAL FOOTPRINT

Web traffic, app reach and release cadence

How the Indonesia companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.

Busiest websites

32 of the 659 companies on this page carry a measured traffic record (4.9%); these are the largest of those, by monthly visits. The median among them is 152,152 visits.

Visits and authority are third-party web estimates, not company-reported figures.

Most-installed apps

182 of these companies (27.6%) publish at least one Android app — 429 apps in all, carrying 434.8M installs between them.

Installs are lifetime totals to date at the June 2026 store reading — a measure of reach, not of people using an app today.

App reach by segment

The busiest app inside each of this page’s own segments, with the quarterly release trend behind it (2023Q3–2026Q1).

SegmentAppsInstallsLeading appRelease trend
Banks178326MBRImo 93.6M
Consumer And Sme Loans6474.6MHome Credit-Pinjaman & Kredit 29M
Islamic Finance825.2MBSI Mobile 14.7M
Alternative Lending617.6MModal Nasional-Pinjaman Daring 10.9M
Service Providers To Banks3216MOCBC mobile Indonesia 4.7M
Nbfc Lenders166.5Madiraku – Kredit & Pinjaman 6.1M
Services For Investment Industry54.7MSkorlife 3.3M
Insurance Distribution194.6MAndal by Taspen 4.1M

A company can carry several segment tags, so these rows overlap and should not be added together. Trend lines are zero-based and share one quarter grid, so a flat line is a quiet segment, not a missing one.

Release cadence by quarter

New apps published, beside apps whose most recent update landed in that quarter — the second bar is how much of the shelf is still being maintained.

2023Q2: 42023Q2: 42023Q22023Q3: 32023Q3: 62023Q32023Q4: 92023Q4: 62023Q42024Q1: 92024Q1: 92024Q12024Q2: 92024Q2: 12024Q22024Q3: 42024Q3: 122024Q32024Q4: 52024Q4: 152024Q42025Q1: 62025Q1: 52025Q12025Q2: 12025Q2: 172025Q22025Q3: 32025Q3: 242025Q32025Q4: 62025Q4: 492025Q42026Q1: 62026Q1: 662026Q1

Darker bars are new releases, lighter bars apps updated. 176 of 429 apps carry a release date. The series ends at 2026Q1, the last quarter that closed before the June 2026 reading.

INSIDE THE INDUSTRY

The Indonesia financial services market map

Explore the segments behind the headline numbers.

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Where companies are building

Rank segments by scale, hiring or disclosed funding.

Nbfc lenders71
Consumer digital19
Fintech19
Enterprise tech10
Alternative lending9
Internet first lenders8
Global 20006
Marketplaces5

Companies can sit in several segments. Counts and funding overlap.

SEGMENT TO EXPLORE

Nbfc lenders

The largest measured segment in this report snapshot.

71companies
2.8%have hiring activity

2 companies hiring · $209.97M disclosed funding

Explore in Radar

How companies make money

Common revenue models; a company can use more than one.

Commission on transaction415
Fee-for-service367
E-commerce - service111
Lending56
Advertising49
Subscription47
E-commerce - product42
Physical commerce19
THE COMPANIES IN MOTION

Who is listing, hiring leaders, launching and winning work

Recorded corporate activity linked to companies in this landscape.

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Recent corporate headlines 10 dated reports
Mergers & acquisitionsadmedika.co.id ↗

PT Multimedia Nusantara (TelkomMetra), as one of the subsidiaries of PT Telkom Indonesia (Persero) Tbk (Telkom) (together, the TelkomGroup) has officially signed a Conditional Share Purchase Agreement (CSPA) marking a critical and strategic step toward the full divestment of PT Administrasi Medika (AdMedika), including its subsidiary TelkoMedika (together, the AdMedika Group), to the Fullerton Health group of companies (Fullerton Health).

Funding roundsringkas.co.id ↗

A total of US$5.1 million (RM24 million) was raised from participating investors, including Flourish Ventures, Kadan Capital, and several strategic and existing investors.

Mergers & acquisitionspanin.co.id ↗

Singapore largest bank DBS ($100 billion market value) has been reported to be in the leading position to buy shares of Indonesia Jakarta-listed Bank Pan Indonesia (Panin Bank) with $2.4 billion market value.

Mergers & acquisitionshomecredit.co.id ↗

Separately, TVS Holdings Ltd, the holding entity of the group, acquired Home Credit Finance in May 2024.

Mergers & acquisitionsbankmaspion.co.id ↗

increased its ownership to 84.6 percent a year later.

New productsbi.go.id ↗

Bank Indonesia has officially launched the Quick Response Code Indonesian Standard (QRIS) cross-border payment service between Indonesia and China on Thursday, April 30, 2026.

Layoffscommbank.co.id ↗

CBA on Thursday confirmed it had axed 119 Australian jobs, with more than 40 of the cuts at Bankwest.

Regulatoryidx.co.id ↗

The draft has since been submitted to the Financial Services Authority (OJK) for approval. IDX expects the new rule to be enacted in March.

Earningsjsi.co.id ↗

Jakarta Setiabudi Internasional (JSPT) Q3 2025 revenue (reported): IDR 1.7957 trillion → ~USD 107.68 million.

Earningspakuwonjati.com ↗

Pakuwon Jati (PWON) Q3 / 9M 2025 net income (reported): IDR 1.73 trillion → ~USD 103.74 million. 9M revenue (reported to Sep 2025): IDR 5.12 trillion → ~USD 307.01 million.

Full recorded event mix

Top 10 categories among 60 recorded events in the 24-month window.

Earnings
18
Mergers & acquisitions
9
Layoffs
7
Leadership moves
6
Company announcements
6
Contracts
6
New products
4
Regulatory
2
Buyback
1
Funding rounds
1
5 activity cards

Swipe or scroll horizontally to browse.

Product launches

Products, platforms and features in the recorded window

Quick Response Code Indonesian Standard (QRIS)

cross-border payment service

Workforce actions

1 companies with reported reductions

119 rolesautomation

Mergers and acquisitions

Company-linked deal reports; status is preserved as recorded.

Acquirer → targetStatusDateValue / context
dbsPanin Bank ↗Rumored2026-03-26Not stated in snapshot
Fullerton Health group of companiesAdMedika ↗Announced2026-03-09Not stated in snapshot
TVS Holdings LtdHome Credit ↗Completed2024-12-18Not stated in snapshot
kasikornbankBank Maspion ↗Announced2024-12-13Not stated in snapshot
OCBC, CIMB, Maybank, MUFG, SMBCPanin Bank ↗Rumored2024-12-11Not stated in snapshot
OcbcPanin Bank ↗Rumored2024-12-11$3.0B

A discussion or rumour is not a completed transaction. An unstated value is not zero.

PEOPLE & OPPORTUNITY

The talent market

26 postings in the preceding 12 months. The full 38-posting snapshot covers 32 employers.

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Most advertised job titles

Financial Controller2
Financial Planning And Analysis Manager2
Financial Controls Officer Jakarta1
Head Of Product Investment1
Head Of Financial Operation Planning & Performance Reporting1
Manager / Senior Manager, Financial Partnerships & Alliances Indonesia & Singapore1
1 internship postings

0 tracked postings mention remote work.

The seniority mix

17 postings specify a level.

unspecified
21
manager
8
lead
7
senior
2

Skills employers mention

Top skills across 38 tracked postings in the available jobs snapshot.

Forecasting
7
Financial Services
6
Budgeting
6
Financial Reporting
5
Communication
4
Stakeholder Management
4
Financial Planning
4
Accounting
4
Analytical
4
Microsoft Excel
4
THE PEOPLE BUILDING THE FIELD

Founders and leaders

101 founders and chief executives across 88 companies.

Expand panel +
12 profiles

Swipe or scroll horizontally to browse.

Education networks

11 profiles with education records.

University of Toronto
1
IIT Delhi
1
University of California (Berkeley)
1
INSEAD
1
University of Manchester
1
Bocconi University
1
Nanyang Technological University (NTU)
1
National University of Singapore (NUS)
1

Prior employers

1 profiles with prior-work records.

Profiles cover recorded founders and leaders; contact details remain in Radar.

NEWS INTELLIGENCE

How this industry appears in the news

220,395 articles in the measured 12-month window.

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220,395articles in the measured year
31,813articles in 2026Q1
27.0%positive tone in the latest complete year

News volume trends

Financial Services coverage across Indonesia · articles per complete quarter

035,00170,002105,003140,0042021Q2: 24,8782021Q22021Q3: 27,9922021Q4: 26,8992022Q1: 27,7242022Q2: 30,3292022Q22022Q3: 31,7182022Q4: 45,3102023Q1: 41,6392023Q2: 39,1802023Q22023Q3: 51,3102023Q4: 40,4062024Q1: 42,1962024Q2: 49,3052024Q22024Q3: 48,2622024Q4: 51,5352025Q1: 64,4052025Q2: 41,8012025Q22025Q3: 121,7432025Q4: 27,5572026Q1: 31,8132026Q1
View quarterly article counts
QuarterArticles
2021Q224,878
2021Q327,992
2021Q426,899
2022Q127,724
2022Q230,329
2022Q331,718
2022Q445,310
2023Q141,639
2023Q239,180
2023Q351,310
2023Q440,406
2024Q142,196
2024Q249,305
2024Q348,262
2024Q451,535
2025Q164,405
2025Q241,801
2025Q3121,743
2025Q427,557
2026Q131,813

Article volume measures coverage, not market sales.

Tone of coverage over time

2021
33,977 positive · 31,779 neutral · 19,511 negative
2022
55,499 positive · 49,162 neutral · 30,293 negative
2023
81,154 positive · 61,684 neutral · 29,540 negative
2024
66,107 positive · 95,731 neutral · 29,312 negative
2025
68,889 positive · 150,186 neutral · 36,246 negative

Leading coverage topics

Financial Services coverage across Indonesia · ranked by full-period article count.

International And Transnational Geographic Entities299,479 articles in the full recorded period
108,084 recent · 81,377 prior
Geopolitical Disputes And Contested Areas299,470 articles in the full recorded period
108,080 recent · 81,372 prior
Administrative And Political Subdivisions299,450 articles in the full recorded period
108,074 recent · 81,366 prior
International Political Relations10,231 articles in the full recorded period
2,908 recent · 1,748 prior
Government International Agreements Coordination7,311 articles in the full recorded period
1,481 recent · 1,350 prior
International Relations And Diplomacy6,797 articles in the full recorded period
1,597 recent · 1,230 prior
Trade Policies And Agreements6,601 articles in the full recorded period
3,024 recent · 1,476 prior
Government Diplomacy And Foreign Affairs Support6,415 articles in the full recorded period
1,287 recent · 1,149 prior
International Sports Competitions5,956 articles in the full recorded period
1,029 recent · 1,276 prior
New Product Launches And Innovations5,344 articles in the full recorded period
1,468 recent · 1,282 prior

Recent and prior counts use the source comparison windows.

Topics gaining and losing attention

Financial Services coverage across Indonesia

KeywordRecentPriorChange
countries4,1951,858126%
tariff negotiations2,060842145%
free trade deals1,128362212%
bilateral trade1,074315241%
trade dispute mechanisms1,020326213%
preferential tariff79442886%
trade barrier reduction72439782%
multilateral diplomacy64838071%
tariff rate quota605266127%
trade facilitation commitments60231790%
pope75343-78%
volcanic unrest157307-49%
olympic team selections65300-78%
volcano alert180298-40%
eruption warning172296-42%

Event and signal lenses

Financial Services coverage across Indonesia

All complete annual cohorts shown
Rising

Regulatory Risk

563,117 classified articles

territories, disputed islands, countries

17.3% critical · 9.9% positive
Rising

Funding Momentum

23,245 classified articles

seismic damage evaluation, earthquake recovery, quake relief

45.0% critical · 49.5% positive
Rising

Growth

64,840 classified articles

gdp growth rate, economic output growth, economic growth statistics

37.4% critical · 49.7% positive

Financial Services coverage across Indonesia. Topic labels describe recorded classifications and can include broad context.

GEOGRAPHIC FOOTPRINT

Where companies are based

Company counts, hiring and disclosed funding across the recorded hubs.

Expand panel +
8 cards

Swipe or scroll horizontally to browse.

UNDERSTAND THE LANDSCAPE

Financial Services in Indonesia: key questions

Clear definitions for making better comparisons.

What does this landscape measure?

It measures the tracked company ecosystem, recorded funding, hiring and other available evidence. It is not a market-size estimate.

Can segment counts be added together?

No. A company can belong to several segments, so segment counts and funding can overlap.

What does a missing figure mean?

A dash or unavailable panel means the current reviewed source snapshot does not support that figure.

Company ecosystem snapshot: 1 September 2026. Funding is recorded in USD; filed accounts retain their stated currency and reporting basis. Each section identifies its own coverage. The news and research behind these sections is explorable in Prism.

Canonical landscape ↗
Coming soon