Top 10 Indonesian Fintech Lending Companies with the Highest Loan Disbursements in August 2023, SPinjam the King

The Financial Services Authority (OJK) has released a list of the top 10 peer-to-peer (P2P) lending fintech companies, or online loan providers ("pinjol"), with the highest loan disbursement in August 2023.

Shopee's SPinjam application, operated by PT Lentera Dana Nusantara, was the leading pinjol with the largest credit disbursement during that period, reaching Rp4.43 trillion. This amount represents 21.59% of the total pinjol disbursement.

SPinjam Shopee offers unsecured cash loans with monthly installment features for consumers shopping on the e-commerce platform.

Second place went to EasyCash, an application under PT Indonesia Fintopia Technology, with a total disbursement of Rp1.7 trillion in August 2023.

Third place was AdaKami from PT Pembiayaan Digital Indonesia, which disbursed Rp1.31 trillion in loans to its creditors.

Furthermore, based on the Herfindahl-Hirschman Index (HHI) calculation, the domestic pinjol industry has a score of 742.15.

"This indicates that no single LPBBTI provider dominates the market, suggesting high competition within the LPBBTI industry," wrote the OJK in its report. (Note: LPBBTI likely refers to a specific Indonesian regulatory classification for P2P lending institutions).

Here is a complete list of the top 10 pinjol providers and their applications with the highest total loan disbursements as of August 2023:

1. PT Lentera Dana Nusantara (SPinjam): Rp4.43 trillion
2. PT Indonesia Fintpia Technology (EasyCash): Rp1.7 trillion
3. PT Pembiayaan Digital Indonesia (AdaKami): Rp1.31 trillion
4. PT FinAccel Digital Indonesia (KrediFazz): Rp1.05 trillion
5. PT Lunaria Annua Teknologi (Koin P2P): Rp0.93 trillion
6. PT Kredit Pintar Indonesia (Kredit Pintar): Rp0.83 trillion
7. PT Berdayakan Usaha Indonesia (BATUMBU): Rp0.81 trillion
8. PT Pintar Inovasi Digital (Asetku): Rp0.73 trillion
9. PT Mapan Global Reksa (Findaya): Rp0.68 trillion
10. PT Amartha Mikro Fintek (Amartha): Rp0.62 trillion

(See also: [This Province Where Residents Frequently Utilize Credit Services](https://databoks.katadata.co.id/datapublish/2023/11/02/ini-provinsi-yang-warganya-banyak-ambil-layanan-kredit))