Vestora

What Vestora does

Vestora (operating as PT. Halalvestor Global Asia) is an Indonesian Securities Crowdfunding (SCF) platform licensed by Otoritas Jasa Keuangan (OJK) under POJK No. 57/POJK.04/2020 (license KEP-91/D.04/2022 dated December 27, 2022). Founded in 2020 and headquartered in South Jakarta, the company operates a web-based marketplace (invest.vestora.id) and a separate issuer onboarding portal (penerbit.vestora.id) that connect Indonesian small and medium enterprises (UKM) seeking Sharia-compliant capital with retail and high-net-worth investors (pemodal). The platform offers two primary product categories: Saham (equity crowdfunding) and Sukuk (Islamic bonds), supported by sub-products including Purchase Order Financing (Rp 500 million–Rp 10 billion, returns from 15% p.a.) and LKPP/LPSE government project financing (up to Rp 10 billion, returns from 16% p.a.). Technology integrations include VIDA for eKYC and e-signature, KSEI for central securities depository registration, partner banks for escrow and custodian services, and ISO 27001-certified information security management. The platform also incorporates an Auto Adjustment System that automatically calculates minimum investment quantities based on each listing's per-unit price and investment floor.

The business model is transaction-fee based. Vestora charges issuers 5% of funds raised on sukuk issuances and 10% on equity (saham) issuances, plus KSEI registration and safekeeping fees, a custodian bank fee of 0.5% per year, a Rp 2,000,000 monthly management fee on equity listings (paid annually in advance), and a Rp 5,000,000 commitment fee upon sukuk business approval. Investors pay a flat Rp 5,000 per securities purchase transaction, with no platform fee on equity investments. For sukuk coupon and principal distributions, a payment agent fee of 0.05% per event is charged to issuers (minimum Rp 500,000, maximum Rp 2,500,000). Distribution is exclusively digital via the self-serve investor portal and direct issuer onboarding, supplemented by a referral agent network paying 0.1% on disbursed PO Financing, and strategic partnerships with BPRS Al Barokah (Islamic rural bank), Dana Syariah Indonesia (P2P Sharia syndication), and Kitabisa (waqaf endowment). Issuer-side minimum qualifications include at least 2 years of operation and Rp 500 million in annual turnover; investor-side exposure is capped at 5–10% of annual income per POJK 57/2020.

Name

Vestora

Legal name

PT. Halalvestor Global Asia

Website

https://vestora.id

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Vestora (PT. Halalvestor Global Asia) is an OJK-licensed Indonesian Securities Crowdfunding platform connecting Sharia-conscious retail and HNW investors with SMEs seeking equity (saham) or sukuk financing, including PO Financing and government project sukuk products.

Ownership category

akta.pro rank

Product category

Securities Crowdfunding / Sharia Alternative Finance Platform

NAICS

Investment Banking and Securities Intermediation (523150), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Islamic Investment Banking & Capital Markets Services (FSABAGAG)

Keywords

• Sharia securities crowdfunding
• Sukuk investment platform
• Equity crowdfunding Indonesia
• SME alternative financing
• Sharia-compliant investing

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Platform/Issuance Fees — Sukuk: Vestora charges issuers a fee of 5% of the total funds raised for sukuk issuances, plus a commitment fee of Rp 5,000,000 upon business approval (deducted from total platform fees). Additionally, KSEI charges Rp 3,750,000 registration fee (one-time), Rp 250,000 monthly safekeeping fee, and the custodian bank charges 0.5% per year of the financing amount.
2. Platform/Issuance Fees — Saham (Equity): For equity (saham) listings, Vestora charges 10% of total funds raised as an issuance fee plus a monthly management fee of Rp 2,000,000 payable annually in advance. KSEI charges Rp 4,162,500 one-time registration and Rp 2,775,000 annual fee per new issuance. The custodian bank charges 0.5% per year. There is no platform fee charged to investors.
3. Transaction Fee — Investor Purchases: A flat Rp 5,000 per security purchase transaction is charged to investors (pemodal) on each buy order placed on the platform.
4. Payment Agent Fee — Sukuk Coupon/Dividend Distribution: For sukuk products, a payment agent fee of 0.05% of the nominal payment is charged per coupon distribution or principal return event (for tenors over 1 year), with a minimum of Rp 500,000 and maximum of Rp 2,500,000 per event.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Vestora operates an OJK-licensed Sharia-compliant securities crowdfunding marketplace that connects Indonesian SME (UKM) issuers with retail and high-net-worth investors. The platform lists equity (saham) and sukuk (Islamic bond) instruments for project financing, purchase order financing, and government procurement financing (LKPP/LPSE). Investors register, complete eKYC, browse live Sharia-screened listings, and purchase securities with a flat Rp 5,000 transaction fee; issuers pay 5–10% issuance fees plus monthly management fees.

Product overview

Vestora operates as a unified Sharia-compliant securities crowdfunding platform offering two primary investment products: Saham (equity crowdfunding) and Sukuk (Islamic bonds). The platform connects small and medium enterprises (UKM) seeking funding with investors looking for alternative investments. Supporting products include PO Financing for purchase order-based funding and LKPP/LPSE Financing for government project contracts. The ecosystem is supported by a referral agent program and an investor mobile/web portal.

Differentiator

Problem solved

Functional benefit

Products and services

• Vestora Platform (Saham & Sukuk Marketplace)
• Saham (Equity Crowdfunding)
• Sukuk (Islamic Bond Crowdfunding)
• PO Financing (Purchase Order Financing)
• LKPP/LPSE Government Project Financing

Quantifiable outcome

• Minimum investment starting from Rp 1 million per investor; individual securities priced from Rp 50,000 per unit
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• KitabisacoreStrategic or Co-development Partner · 19 December 2023Vestora and Kitabisa announced a collaboration to launch a Waqaf Endowment Fund (Dana Wakaf Abadi), aimed at strengthening the Sharia economic ecosystem in Indonesia. The program is designed to provide integrated Sharia economics with significant social impact for the Muslim community. CEO Putri Madarina stated that the Waqaf Endowment Fund is a concrete step toward contributing to a more sustainable Sharia economic foundation. The collaboration draws inspiration from Zamzam Tower as an example of productive wakaf-based development.
• BPRS Al BarokahcoreStrategic or Co-development Partner · 7 November 2023Vestora and BPRS Al Barokah (Islamic Rural Bank) announced a strategic partnership in Sharia-based financing for SMEs in Indonesia. The collaboration aims to provide Sharia-compliant financial solutions that support SME growth across Indonesia. BPRS Al Barokah focuses on serving small and medium enterprise needs. The partnership enables cross-referral of qualified SME borrowers and may involve co-financing structures aligned with Sharia principles.
• Dana Syariah Indonesia (DSI)coreStrategic or Co-development Partner · 27 October 2023Vestora (SCF platform) and Dana Syariah Indonesia (P2P Sharia platform) announced a strategic partnership at the Indonesia Sharia Economic Festival (ISEF) 2023. The partnership enables syndicated financing for SMEs whose funding requirements exceed the SCF Rp 10 billion ceiling — DSI's P2P Sharia product can complement Vestora's SCF product in a single deal. Both companies aim to develop innovative Sharia financing products and expand access to halal SME financing across Indonesia.
• PT Indonesia Digital Identity (VIDA)coreTechnology or IntegrationVestora partners with PT Indonesia Digital Identity (VIDA) for electronic Know-Your-Customer (eKYC) identity verification and certified electronic signature (TTE) services. VIDA is a Ministry of Communication and Information Technology-certified Electronic Certification Authority (PSrE) operating under PP No. 71/2019 and Permenkominfo No. 11/2018. VIDA verifies user identity against government databases and issues electronic certificates for document signing on the Vestora platform.
• Kustodian Sentral Efek Indonesia (KSEI)coreTechnology or IntegrationVestora integrates with KSEI (Kustodian Sentral Efek Indonesia) as the central securities depository for all share and sukuk issuances on the platform. KSEI provides registration of beneficial ownership, trade settlement, and custodian services. Investors receive official proof of securities ownership recorded in their custodian bank account, which is legally recognized.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Amartha: Indonesia-licensed P2P lending platform focused on micro and small enterprises, particularly women-owned businesses in rural Indonesia. Comparable to Vestora in targeting underbanked Indonesian SMEs through a digital marketplace model intermediated by OJK.
• Bizhare: OJK-licensed Indonesian securities crowdfunding platform offering equity and debt-based investments in SMEs and property. Closely comparable to Vestora in operating a SCF marketplace under POJK 57/2020, though without Vestora's Sharia specialization.
• Modalku (Funding Societies Indonesia): OJK-licensed Indonesian P2P lending platform (part of Funding Societies Group) focused on SME financing with a similar digital marketplace model connecting retail/lender investors with SME borrowers across Indonesia.
• Investree: Indonesia-licensed P2P lending platform connecting SMEs with retail investors. Operates in the same OJK-regulated alternative finance space as Vestora and targets similar SME borrower segments, though focuses on receivables financing rather than Sharia-compliant equity/sukuk.
• KoinWorks: OJK-licensed Indonesian fintech offering P2P lending, invoice financing, and business capital solutions to SMEs. Comparable to Vestora in serving the underbanked Indonesian SME market through a digital platform with retail investor participation.
• Akseleran: OJK-licensed Indonesian P2P lending platform offering business loans to SMEs with investor marketplace structure. Comparable to Vestora in serving Indonesian SMEs via an OJK-regulated digital marketplace intermediating retail investor capital.
• Dana Syariah Indonesia: Indonesia's P2P Sharia platform providing Sharia-compliant SME financing. Directly comparable to Vestora as a fellow Sharia-compliant fintech intermediary; additionally a strategic syndication partner of Vestora, indicating identical target market and Sharia governance standards.

Broad incumbents

• Bank Syariah Indonesia (BSI): Indonesia's largest Sharia bank post-merger of BRIS, BNIS, and BSIS. Comparable as a major Sharia-compliant financial services provider in Indonesia with potential to enter SCF; represents the broad-incumbent competitive threat from balance-sheet-funded Islamic banks.

Emerging players

• Wahed Invest: Global Islamic digital investment platform offering Sharia-compliant portfolios and robo-advisory services. Comparable to Vestora in addressing Muslim investor demand for halal investment products, though serving a global audience via a different product structure (managed portfolios vs direct equity/sukuk).

Regional players

• Ethis: Sharia-compliant equity crowdfunding platform operating across Malaysia, Indonesia, and other Southeast Asian markets. Comparable to Vestora in offering Sharia-screened real-asset and SME investment opportunities to Muslim retail investors, with broader regional reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/vestora.id
• LinkedInlinkedin.com/company/vestoraid

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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 Vestora