What Flip does

Flip (legal entity PT Fliptech Lentera Inspirasi Pertiwi) is an Indonesian consumer fintech super-app headquartered in South Jakarta, founded in 2015 by three University of Indonesia alumni — Rafi Putra Arriyan, Luqman Sungkar, and Ginanjar Ibnu Solikhin. The company is licensed as a Payment Service Provider (PJP Category 3) by Bank Indonesia and operates a single mobile application that bundles free interbank transfers to 100+ Indonesian banks, bill payments, e-wallet top-ups, QRIS payments, international remittances via Flip Globe (80+ countries), personal loans via Flip Pinjam (up to Rp100 million), digital gold and crypto investments, and cashback shopping via Flip Deals with merchants such as Shopee, Tokopedia, Lazada, Traveloka, and Blibli. The platform also extends to B2B through Flip for Business, serving 1,000+ SMEs and corporates with bulk disbursements, payroll, multi-transfer, and treasury tools, supported by KYC integration with VIDA for biometric identity verification.

The underlying technology stack is mobile-first, regulated, and bank-rail-integrated: Flip sits between user bank accounts and destination banks/e-wallets, using a unique Kode Unik fee mechanism for monetization on volume above free thresholds. Revenue is generated across multiple streams — domestic transfer admin fees, international remittance FX margins plus flat fees starting at Rp20,000, affiliate/cashback commissions, lending referral fees from OJK-licensed partners, and emerging subscription revenue via Layanan Langganan. Backed by approximately $103 million in disclosed funding from Sequoia Capital India (now Peak XV Partners), Insight Partners, Insignia Ventures Partners, Tencent, and Block, Flip has scaled to 13M+ users and processes over $1.2 billion in annual transaction volume, distributed exclusively via self-serve mobile app download with no physical branches.

Name

Flip

Legal name

PT Fliptech Lentera Inspirasi Pertiwi

Website

https://flip.id

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Flip is an Indonesian Bank Indonesia-licensed fintech super-app offering free interbank transfers to 100+ banks, 80+ country remittances, bill payments, lending, and cashback shopping to 13M+ consumers and 1,000+ SMEs.

Ownership category

akta.pro rank

Product category

Consumer Digital Payments

NAICS

Nondepository Credit Intermediation (5222)

SIC

Finance Services (6199)

akta.pro primary industry

Multi-Currency Accounts, Wallets & FX Management (Consumer/SME) (FSAGAKAF)

akta.pro secondary industry

Crypto-Enabled Cross-Border Transfers & On/Off-Ramps (FSAGAKAO)

Keywords

• Interbank money transfers
• International remittances
• Digital payments platform
• Consumer fintech app
• Cross-border transfers

Headquarters

HQ city

Depok

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Domestic Transfer Fees (Kode Unik / Admin): Flip charges a small admin fee (Kode Unik) for domestic interbank transfers. Standard transfers are free up to defined limits; fees apply when users exceed daily transaction thresholds (over Rp5 million/day or over 10 transactions/month). Fee is embedded as a 'unique code' added to the transfer amount, making it seamless and frictionless for the user.
2. International Remittance Fees (Flip Globe): Flip earns revenue from foreign exchange margins and flat transfer fees on international remittances. Fees start from Rp20,000 per transaction and vary by destination country and transfer amount. The service offers competitive exchange rates with the margin representing a key revenue source.
3. Flip Deals (Affiliate / Cashback Revenue Share): Flip generates referral/affiliate revenue from e-commerce cashback integrations. Users are redirected to partner e-commerce platforms through Flip Deals, and Flip earns a commission or revenue share on resulting transactions, partially passed back to users as cashback.
4. Flip for Business (B2B / Enterprise): Business-oriented services including bulk disbursements, payroll, multi-transfer, and treasury management tools. Revenue may come from transaction fees on business volumes and potentially subscription/management fees for advanced features.
5. Flip Pinjam (Referral / Lending Commission): Flip Pinjam is offered in partnership with OJK-licensed lenders. Flip acts as a referral channel, earning a commission or referral fee for loan applications facilitated through its platform. The loan products (up to Rp100 million) carry interest rates starting from 0.2%/month.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Flip operates a mobile-first fintech super-app that enables Indonesian consumers and businesses to send free interbank transfers to 100+ banks, remit money internationally to 60+ countries via Flip Globe, pay bills, top up e-wallets, apply for personal cash loans through Flip Pinjam, and earn cashback on e-commerce purchases via Flip Deals. The platform holds a Bank Indonesia Payment Service Provider license and operates a separate Flip for Business portal for SMEs requiring bulk disbursements, payroll, and treasury management tools.

Product overview

Flip is an Indonesian consumer fintech super-app operated by PT Fliptech Lentera Inspirasi Pertiwi, offering a unified mobile application that combines free interbank transfers (to 100+ banks), international remittances via Flip Globe (60+ countries), bill payments, personal loans (Flip Pinjam, up to Rp100M), and investment products including digital gold and crypto. The platform targets both individual consumers and business users (via Flip for Business), and differentiates through zero-fee domestic transfers and competitive exchange rates for international transfers. The core consumer app also includes Flip Deals (cashback shopping), a loyalty program (Koin Flip), a digital wallet (Saldo DutaMoney), charitable giving (Zakat/Sedekah), and a subscription service. Flip is licensed and supervised by Bank Indonesia.

Differentiator

Problem solved

Functional benefit

Brands

• Flip Globe: International money transfer service allowing users to send money from Indonesia to 60+ countries with competitive exchange rates and low transfer fees.
• Flip Deals
• Flip Pinjam

Products and services

• Flip (Consumer Mobile App) Core mobile application for Indonesian consumers combining free interbank transfers to 100+ banks, bill payments, e-wallet top-ups, cashback shopping, and personal loans in a single app. Licensed and supervised by Bank Indonesia.
• Flip Globe International money transfer service enabling users to send money from Indonesia to 60+ countries with real-time exchange rates, transfer fees starting from Rp20,000, and delivery times ranging from as fast as 5 minutes to 3 days depending on destination. Supports transfers to banks, AliPay, and WeChat Pay.
• Flip Pinjam Personal cash loan product offering borrowing limits from Rp100,000 up to Rp100 million with interest rates starting from 0.2% per month and tenors of 3–12 months. Loans are facilitated by OJK-licensed partner financial institutions and disbursed within 5 minutes of approval.
• Flip for Business (Big Flip) Business financial management platform for Indonesian companies and SMEs offering bulk disbursements, multi-transfer payroll processing, treasury management, invoice handling, financial reporting, and international business payments. Used by over 1,000 companies and SMEs.
• Flip Deals Cashback shopping feature providing up to 60% cashback on online purchases made through affiliate partnerships with major Indonesian e-commerce platforms including Shopee, Tokopedia, Lazada, Traveloka, Blibli, Zalora, TikTok Shop, and ShopeeFood. Cashback is credited to Flip Coins within 7 days of transaction completion.
• Investasi (Emas Digital & Kripto) Investment feature allowing users to buy and sell digital gold, physical Antam gold bars, and cryptocurrency directly within the Flip app. Antam (PT Aneka Tambang) is the state-owned gold refiner integrated for physical gold redemption.
• Bayar Tagihan & Isi Ulang Bill payment and prepaid top-up service covering electricity bills, pulsa, internet, TV packages, BPJS Kesehatan, and credit installments with low admin fees within the Flip app.

Quantifiable outcome

• Users report saving up to Rp30 million over 6 months by using Flip for bulk/multitransfer disbursements instead of traditional bank transfers.
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration32 records

Feature9 records

Partnerships

Six partnerships are on record, tiered core and minor.

• VIDA (PT Indonesia Digital Identity)coreTechnology or IntegrationVIDA serves as Flip's electronic certificate authority for identity verification, providing biometric facial recognition and government database cross-checking for KYC compliance. VIDA is certified by the Indonesian Ministry of Communication and Informatics. This partnership is essential for regulatory compliance with Bank Indonesia's Customer Due Diligence requirements.
• Bank Indonesia (Regulator)coreOthersBank Indonesia is Flip's primary regulator, having issued Flip its payment service provider license (Tanda Izin No. 18/196/DKSP/68) and subsequent conversion to Penyedia Jasa Pembayaran (PJP) License Category 3. All of Flip's transfer, remittance, and payment activities operate under BI's regulatory oversight.
• Partner Banks (Bank Mandiri, BRI, BNI, BSI, BCA, BTPN/Jenius, CIMB, Muamalat, Permata, Digibank/DBS, Danamon, BTN)coreTechnology or IntegrationFlip has integrated with major Indonesian banks to enable free interbank transfers. Partner banks include Bank Mandiri, BRI, BNI, Bank Syariah Indonesia (BSI), BCA, Jenius/BTPN, CIMB/CIMB Syariah, Muamalat, Permata/Permata Syariah, Digibank/DBS, Danamon/Danamon Syariah, and BTN. Users can transfer from these banks' accounts to Flip and from Flip to 100+ recipient banks.
• OJK-Licensed Lending Partners (for Flip Pinjam)coreStrategic or Co-development PartnerFlip Pinjam loans are facilitated in partnership with financial institutions licensed by the Indonesian Financial Services Authority (OJK). These partners underwrite the loans while Flip provides the distribution channel and customer acquisition interface within its app. The partnership enables instant loan disbursement within 5 minutes using only KTP verification.
• International Remittance Partners (for Flip Globe)coreTechnology or IntegrationFlip Globe partners with international money transfer operators and foreign bank networks to enable remittances to 60+ countries. These partners include global transfer services and local bank/e-wallet integrations (e.g., AliPay, WeChat Pay for China transfers). The partners handle the final leg of international fund delivery under their respective regulatory licenses.
• E-commerce Partners (Shopee, Tokopedia, Lazada, Traveloka, Blibli, Zalora, TikTok Shop, ShopeeFood)minorGTM or Marketing PartnerFlip has affiliate partnerships with major Indonesian e-commerce platforms for Flip Deals cashback functionality. When users purchase through Flip Deals links, the e-commerce platforms pay a commission to Flip, a portion of which is returned to users as cashback.

Scale indicators9 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• DANA: One of Indonesia's leading consumer e-wallets, offering free interbank transfers, bill payments, and merchant QR payments to tens of millions of users. Directly competes with Flip on free transfers and consumer fintech super-app positioning in Indonesia.
• OVO: Major Indonesian e-wallet and payment platform with deep integration into the Grab and Tokopedia ecosystems. Competes directly with Flip on consumer payments, free transfers, and merchant QR (QRIS) acceptance in Indonesia.
• GoPay (GoTo): Indonesia's largest consumer payment wallet, embedded in the GoTo super-app (Gojek, Tokopedia). Competes head-on with Flip on free transfers, bill payments, and consumer fintech in Indonesia with far larger user base.
• Wise (formerly TransferWise): Global cross-border money transfer and multi-currency account platform with a transparent low-fee, mid-market-rate model. Directly comparable to Flip Globe's low-cost, FX-margin-based remittance proposition.
• Remitly: US-headquartered digital remittance platform focused on emerging-market corridors with mobile-first UX and competitive FX. Directly comparable to Flip Globe on the consumer cross-border remittance model.
• Jenius (Bank BTPN): Indonesian digital bank offering free interbank transfers, savings, and bill payments within BTPN's banking license. Directly competes with Flip on the 'free interbank transfer' core proposition for Indonesian consumers.
• ShopeePay (Sea Group): Consumer e-wallet embedded in the Shopee e-commerce ecosystem in Indonesia. Competes with Flip on free transfers, bill payments, QRIS acceptance, and integrated e-commerce cashback rewards.

Emerging players

• Xendit: Indonesia and Southeast Asia-focused payment infrastructure provider for businesses. Adjacent peer: serves similar merchants and payment rails as Flip's B2B product (Flip for Business) but on the merchant-acquiring and API-infrastructure side.
• Kredivo: Indonesian digital lending/BNPL platform serving mass-market consumers. Comparable consumer fintech profile to Flip's Indonesian user base, with similar regulatory exposure to OJK lending rules relevant to Flip Pinjam.

Broad incumbents

• Payoneer: Global cross-border payments platform for freelancers, SMBs, and marketplaces. Comparable on cross-border B2B/SMB payments infrastructure and multi-currency accounts, similar to Flip for Business's international payment use cases.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@FlipID
• Facebookfacebook.com/HaiFlip
• LinkedInlinkedin.com/company/flip.id
• Instagraminstagram.com/flip_id
• TikToktiktok.com/@flip_id
• Xx.com/flip_id

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flip