With the proliferation of startups in Indonesia, funding continues to flow to support these technology-based emerging companies. In the second quarter of 2016, Indonesia ranked second in the amount of funding for startups in Southeast Asia, reaching Rp 2.09 trillion.
In 2017, funding for startups in Indonesia reached US$3 billion, or approximately Rp 40.2 trillion. Approximately US$1.6-2.8 billion of this total investment flowed into startups that have become unicorns in Indonesia, such as Go-Jek, Tokopedia, and Traveloka.
According to research conducted by DailySocial.Id, in 2017, the startups that successfully attracted investors were in the fintech category, with 28 companies. This figure exceeded the amount of funding obtained by startups in the e-commerce category. The relatively low penetration of banking in the country opens opportunities for financially-based startups to carve a niche in the financing sector. Another interesting finding from this research is that media startups ranked third.
(Read Databoks: Access to Banking Remains Low, Great Opportunities for Fintech)