Fintech Funding in Indonesia Soared in 2021

Technology & Telecommunications

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Vika Azkiya Dihni 14/04/2022 10:50 WIB

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Total funding for financial technology (fintech) in Indonesia surged in Q3 2021, reaching a record high over the past five years.

Total Funding for Fintech in Indonesia (2017-2021*)

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Total Funding for Fintech in Indonesia (2017-2021*)

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The Indonesian Fintech Association (Aftech) recorded a surge in funding for financial technology or fintech in Indonesia during the third quarter of 2021. This reached a record high in the last five years.

In Q3 2021, fintech funding reached US$904 million. This represents a 220.6% increase compared to 2020, which totaled US$282 million.

The trend shows that fintech funding in Indonesia has been increasing since 2017, when it was recorded at US$64 million.

Fintech funding increased by 290.6% to US$250 million in 2018. The following year, funding increased again by 16.4% to US$291 million.

Then, fintech funding in Indonesia decreased by 3.1% in 2020 due to the Covid-19 pandemic. However, it rebounded significantly last year.

(See also: 10 Largest Global Fintech Companies, Visa Takes the Lead)

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Fintech Funding in Indonesia Soared in 2021

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