Indodana
Indodana is an OJK-licensed Indonesian fintech (PT Indodana Multi Finance) offering a PayLater BNPL and digital lending platform with credit limits up to Rp50 million, distributed via its mobile app, thousands of merchants, and co-branding partners Blibli and Tiket.com.
- Company typePrivate
- Founded2017
- HeadquartersDki Jakarta, Indonesia
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Indodana does
Indodana, legally PT Indodana Multi Finance, is an Indonesian OJK-licensed fintech and multi-finance company founded in 2017 and headquartered in Central Jakarta. It operates the Indodana PayLater platform, a digital BNPL and consumer credit service that issues credit limits of up to Rp50 million to Indonesian consumers, repayable via a 30-day term or installments over 3, 6, 12, 18, or 24 months (minimum monthly income requirement Rp3,000,000). Distribution is delivered through a dual direct/indirect model: a consumer-facing Android/iOS mobile application (Indodana Finance) for self-service onboarding and credit-limit decisions, plus a network of thousands of Indonesian merchants — including co-branding partners Blibli and Tiket.com — where Indodana PayLater is accepted as a payment method.
Beyond core PayLater, Indodana has extended its product set into category-specific installment credit for consumer electronics (mobile phones, laptops, tablets, smartwatches), electric motorcycle financing via Polytron, vehicle BPKB-secured loans (motorcycle and car), and a cash-loan product run through a fintech subsidiary (Pinjaman Dana Tunai by Indodana Fintech). The Co-branding PayLater product white-labels this infrastructure to platform partners; merchant integrations are delivered either directly or through payment gateway partners (iPay88, Duitku, Xendit, Gopay, Faspay, Nicepay, Paylabs, AsiaPay, Espay, Finpay, Durianpay, E2Pay, Sprint) and via plugins for WooCommerce, Magento, OpenCart, and PrestaShop. The company is a member of APPI (Asosiasi Pendanadaaan Bersama Indonesia) and processes data under DigiCert-secured infrastructure.
Indodana's revenue mechanics are transaction- and fee-based: interest and fees on installment payments to consumers, transaction fees from merchant partners, and revenue-sharing/licensing income from co-branding deployments. Customer acquisition is product-led via the mobile app and channel-led via merchant and platform partnerships, supplemented by social media presence (Facebook, Instagram, LinkedIn, Twitter, TikTok), referral programs, and event participation (e.g., Jakarta Fair Kemayoran). Service coverage spans Indonesia's major islands: Java (Jabodetabek, Banten, Jawa Barat, Jawa Tengah & D.I. Yogyakarta, Jawa Timur), Sumatera, Bali, Nusa Tenggara, Kalimantan, and Sulawesi. Leadership includes Mira Wibowo as Direktur Utama and Mirna Florita as Director per award disclosures; separately listed leadership includes William Lesmana Lim (CEO) and Ronny Wijaya (Director).
Indodana firmographics
Firmographics- Name
- Indodana
- Legal name
- PT Indodana Multi Finance
- Website
- https://indodana.id
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Indodana is an OJK-licensed Indonesian fintech (PT Indodana Multi Finance) offering a PayLater BNPL and digital lending platform with credit limits up to Rp50 million, distributed via its mobile app, thousands of merchants, and co-branding partners Blibli and Tiket.com.
- Ownership category
- akta.pro rank
Indodana industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Sales Financing (52222), Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141), Finance Services (6199)
- akta.pro primary industry
- BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG)
- akta.pro secondary industries
- Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), Buy Now, Pay Later (BNPL) Platforms (BPAMAFAG)
Keywords
Where Indodana is headquartered
LocationHeadquarters
- HQ city
- Dki Jakarta
- HQ country
- Indonesia
- HQ region
- Asia
Offices2 records
Markets served
Indodana business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Installment Interest and Fees: Revenue generated from interest charges and fees on installment payments made by customers using Indodana PayLater service
- Merchant Partnership Fees: Revenue from merchant partners who offer Indodana PayLater as a payment option, providing installment payment capabilities without credit card requirements
- Co-branding Partnership Revenue: Revenue sharing arrangements with co-branding partners such as Blibli and Tiket.com where Indodana provides the underlying BNPL infrastructure and credit services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Standard PayLater with credit limit up to Rp50 million |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Indodana product offering
Product offeringCore offering
Indodana operates a digital PayLater (BNPL) and consumer credit platform that provides Indonesian consumers with revolving credit limits up to Rp50 million, repayable in 30 days or installments over 3/6/12/18/24 months, accessible through a mobile app and accepted at thousands of merchant partners. The company also provides a white-label co-branding PayLater infrastructure for partner platforms such as Blibli and Tiket.com, plus category-specific credit products (mobile phones, laptops, tablets, smartwatches, electric motorcycles) and vehicle-title secured loans.
Product overview
Indodana Finance operates a multi-product financial services platform centered on its PayLater BNPL (Buy Now Pay Later) service. The core product, Indodana PayLater, provides digital credit limits up to Rp50 million with installment options ranging from 30 days to 24 months. The platform extends through a co-branding model allowing partners like Blibli and Tiket.com to white-label the service. Supporting products include category-specific credit offerings (mobile phones, laptops, tablets, smartwatches), electric motorcycle financing, vehicle registration-secured loans (BPKB), and cash loans via its fintech subsidiary. All services are offered through a network of merchant partners across Indonesia including electronics retailers, e-commerce platforms, fashion stores, and lifestyle merchants.
Differentiator
Problem solved
Functional benefit
Brands
- Indodana PayLater: Digital credit service enabling installment payments at partner merchants without requiring credit cards
- Co-branding PayLater
Products and services
- Indodana PayLater Digital credit service enabling installment payments without requiring a credit card at partner merchants; provides credit limits up to Rp50 million with payment options of 30 days or installments over 3/6/12/18/24 months for Indonesian consumers aged 18-70 with regular income.
- Co-branding PayLater White-label BNPL solution allowing partner platforms (Blibli, Tiket.com) to offer installment credit services under their own brand with seamless end-to-end customer experience and a single credit limit usable across partner platforms and Indodana Finance.
- Kredit HP (Mobile Phone Credit) Installment credit product specifically for purchasing mobile phones with monthly payment options available at partner electronics merchants.
- Kredit Laptop Installment credit service for laptop purchases with flexible payment tenures at partner retailers.
- Kredit Tablet Installment credit offering for tablet purchases with competitive rates at partner merchants.
- Kredit Smartwatch Installment credit service for smartwatch purchases available at partner electronics stores.
- Cicilan Motor Listrik (Electric Motorcycle Installment) Installment financing for electric motorcycles enabling affordable monthly payments at partner merchants.
- Pinjaman Jaminan BPKB Motor Loan product secured by motorcycle vehicle registration certificate (BPKB) for motorbike owners seeking personal financing.
- Pinjaman Jaminan BPKB Mobil Loan product secured by car vehicle registration certificate (BPKB) for car owners seeking personal financing.
- Pinjaman Dana Tunai by Indodana Fintech Cash loan service provided through Indodana's fintech subsidiary for personal financing needs.
- Cicilan Tanpa Kartu Kredit (Installment Without Credit Card) Online installment payment service allowing purchases without requiring a credit card through participating merchants across Indonesia.
Quantifiable outcome
- Credit limit approval within 1x24 hours
- +1 more outcomes
Companies that use Indodana
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
Indodana technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration17 records
Feature2 records
Indodana partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- BliblicoreCo-branding PayLater partnership where Indodana provides the underlying BNPL infrastructure for Blibli's platform, allowing customers to use installment payments with a single limit that works across Indodana Finance and Blibli.
- Tiket.comcoreCo-branding PayLater partnership for travel and event ticketing, providing customers with installment payment options when purchasing tickets on Tiket.com platform.
- Electronic CitycoreMajor merchant partner for electronics retail, offering Indodana PayLater installment options for consumer electronics purchases across their store network.
- Hartono ElektronikcoreElectronics retail chain partner offering Indodana PayLater as payment option for household and consumer electronics.
- UFO ElektronikaminorElectronics retailer partner providing Indodana PayLater installment payment options for gadgets and electronics.
- DIGIMAPminorDigital products and electronics retail partner offering Indodana PayLater for installment purchases.
- DIGIPLUSminorRetail partner with Indodana PayLater installment payment options available.
- IBOXminorApple authorized retailer partner offering Indodana PayLater for Apple product installments.
- ERASPACEminorApple premium reseller partner offering Indodana PayLater installment options for Apple devices.
- MATAHARIminorDepartment store chain partner offering Indodana PayLater for fashion and lifestyle purchases.
- PolytronminorIndonesian electronics brand partner offering Indodana PayLater for Polytron products including electric motorcycles.
- Otoritas Jasa Keuangan (OJK)coreFinancial services regulatory authority that licenses and supervises PT Indodana Multi Finance as an authorized lending/financing company.
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
Indodana competitors and assessment
Company assessmentBroad incumbents
- GoPayLater (GoTo): BNPL offering within the GoTo super-app ecosystem (Gojek, Tokopedia, GoPay). Comparable installment product bundled with mobility, food delivery and payments distribution.
- SPayLater (Shopee / Sea Limited): BNPL service embedded into Shopee, one of Indonesia's largest e-commerce platforms. Competes head-on at checkout across the country with a superapp-backed distribution advantage.
- AEON Fast (Indonesia): Multi-finance consumer credit provider in Indonesia (part of the AEON group) offering installment financing and credit cards. Broader incumbent in the same licensed multi-finance category.
Direct peers
- Akulaku: Pan-SEA BNPL and consumer finance platform with a strong Indonesia presence, offering PayLater installments and virtual credit cards at online and offline merchants. Highly comparable product, customer, and underwriting profile.
- Atome: Singapore-headquartered BNPL player operating in Indonesia, offering interest-free installment payments at online and offline retailers. Comparable merchant-integrated BNPL model targeting similar consumer segments.
- Kredivo: Indonesia's largest digital credit/BNPL platform, offering instant PayLater financing for e-commerce and offline purchases. Most direct functional peer — competes for the same Indonesian consumer credit segment and merchant placement.
- Home Credit Indonesia: OJK-licensed multi-finance company offering consumer financing and BNPL for electronics, gadgets and lifestyle purchases at offline retail partners. Directly comparable product and regulatory positioning.
- Traveloka Paylater: BNPL offering within Indonesia's leading travel super-app. Particularly overlaps with Indodana's Tiket.com co-branding franchise in travel/ticketing installment financing.
Regional players
- Adira Finance: Large OJK-licensed Indonesian multi-finance company focused on automotive and durable goods financing. Adjacent peer — competes for similar merchant placement for installment credit, especially for vehicles and electronics.
Others
- Xendit: Indonesia's largest payment gateway and a listed Indodana integration partner. While not a direct BNPL competitor, Xendit (plus similar gateways) could expand into credit offerings and become adjacent competition for merchant relationships.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Indodana social profiles
Digital presenceIndodana compliance and trust
Trust signalCompliance3 records
Indodana financial estimates
Financial estimateRevenue estimate
Valuation estimate
Indodana leadership team
Management profileNumber of profiles
Profiles4 records
Indodana funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Indodana M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Indodana
What does Indodana do?
Indodana operates a digital PayLater (BNPL) and consumer credit platform that provides Indonesian consumers with revolving credit limits up to Rp50 million, repayable in 30 days or installments over 3/6/12/18/24 months, accessible through a mobile app and accepted at thousands of merchant partners. The company also provides a white-label co-branding PayLater infrastructure for partner platforms such as Blibli and Tiket.com, plus category-specific credit products (mobile phones, laptops, tablets, smartwatches, electric motorcycles) and vehicle-title secured loans.
Is Indodana a public or private company?
Indodana is a private company. It is classified as unknown and is currently operating.
When was Indodana founded?
Indodana was founded in 2017. It employs 51 to 100 people.
Where is Indodana based?
Indodana is headquartered in Dki Jakarta, Indonesia, in the Asia region.
How does Indodana make money?
Three revenue lines are on record. Installment Interest and Fees are the primary driver. The others are merchant Partnership Fees and co-branding Partnership Revenue.
Who are Indodana's main competitors?
Broad incumbents on record are GoPayLater (GoTo), SPayLater (Shopee / Sea Limited) and AEON Fast (Indonesia). Direct peers are Akulaku, Atome, Kredivo, Home Credit Indonesia and Traveloka Paylater. Adira Finance is listed as a regional player. Xendit is listed as an others.
Does Indodana have an API?
Yes. Indodana Finance provides technical integration documentation for merchants. The API enables e-commerce integration with their PayLater service, supporting plugin integrations for WooCommerce, Magento, OpenCart, and PrestaShop. Integration can be achieved through payment gateway partners (iPay88, Du-itku, Sprint, Faspay, Nicepay, Paylabs, Xendit, Gopay, AsiaPay, ESpay, E2Pay, Finpay, Durianpay) without requiring direct technical development. Developer documentation is at dev.indodana.id/indodana-paylater.
What industry is Indodana in?
Indodana's product category is Consumer Lending. Its primary akta.pro industry code is FSAGAIAG, BNPL Consumer Apps & Wallets (Discovery, Management), with a secondary code of FSAGAIAA, Merchant-Integrated BNPL (Checkout POS Financing). Its NAICS code is 52222 and its SIC code is 6141.