Indonesia's Startup Funding Reaches Rp 32.73 Trillion by Q3 2021

A number of Indonesian startups experienced a flood of funding in 2021. Citing data from DailySocial, funding for startups in Indonesia reached US$2.28 billion, or Rp 13.8 trillion (at an exchange rate of Rp 14,369/US$), by the third quarter of 2021.

This funding value of US$2.28 billion from Q1 to Q3 2021 represents an 8% decrease compared to the same period the previous year. In the January-September 2020 period, startup funding in Indonesia reached US$2.48 billion.

Despite this decrease, the value and number of startup funding transactions continued to increase each quarter of 2021. In Q1 2021, funding reached US$554 million from 40 transactions. This increased to US$750 million from 48 transactions in Q2 2021. The largest funding occurred in Q3, with transactions totaling US$974 million.

In Q3 2021, the largest funding was channeled to the financial technology (fintech) sector. A total of 43.6%, or US$425 million, from 11 transactions, went to the fintech sector.

The largest fintech funding was received by Ajaib. Between November 2020 and December 2021, Ajaib received US$243 million from its Series A and Series B funding rounds. Kredivo received US$226 million during the same period.