Clipan Finance Indonesia

What Clipan Finance Indonesia does

PT Clipan Finance Indonesia Tbk (IDX: CFIN) is an Indonesian public multifinance company founded in 1982 and headquartered in Jakarta. The company sits within the Panin Group financial conglomerate and is licensed and supervised by OJK (Otoritas Jasa Keuangan). Its core business is consumer and small-business financing, with four principal product lines: Clipan Mobil Baru (new car financing, interest rates from 0% promotional up to ~4.28% standard, tenors 1–6 years, minimum 25% down payment); Pembiayaan Mobil Bekas (used car financing at ~15%+ interest, tenors up to 5 years); Duit Cair (a multiguna cash loan branded in October 2021, using BPKB vehicle registration as collateral, flat interest from 0.7% per month, Rp25M–Rp500M loan sizes, 1–4 year tenors, with ~3-day processing); and Pembiayaan Alat Berat/Fleet (heavy equipment financing for mining and construction). Ancillary services include STNK (vehicle registration) and BPKB (ownership certificate) management, plus a KPM refinancing solution targeted at Bank Panin customers. Insurance partnerships with Smartsure (roadside assistance) and MAG Insurance (personal accident up to Rp50M) are bundled with financing products, generating commission revenue.

Clipan Finance earns revenue primarily through interest income on installment financing (transaction-fee style), supplemented by insurance referral commissions. Distribution combines a 120+ branch physical network (45 Kantor Cabang and 75 Kantor Selain Kantor Cabang) across Indonesia with digital channels — notably a December 2021 strategic partnership with Fuse Insurtech that gives access to 60,000+ marketing partners via the Fuse Pro application for Duit Cair origination, a JBA (Jakarta Auction) used-car auction financing partnership, and a Blibili e-commerce promotional partnership. Marketing is multi-channel: SEO, organic social (Facebook, Twitter/X, Instagram), a financial-literacy blog, and on-ground presence at automotive exhibitions (Panin Expo, Multifinance Day, Jakarta Fair Kemayoran, OJK Bulan Inklusi Keuangan events).

Operationally, Clipan has achieved strong credit quality with non-performing finance (NPF) sustained below 1%, and reported 2022 net profit of Rp310.72 billion (+571.02% YoY) on Rp7.4 trillion of new financing disbursement (+100.24% YoY) with total assets of Rp7.14 trillion (August 2022). The company holds ISO 27001:2013 certification for its Information Security Management System (issued May 2023 by CBQA Global), was ranked #1 among 20 multifinance companies in the Rp5–10T asset category by Infobank Magazine (July 2023) with a 98.54% 'Sangat Bagus' score, and is led by President Director Harjanto Tjitohardjojo. Recent revenue (2023–2025) shows a declining trajectory from the 2023 peak, signaling the need to monitor whether the channel diversification and product expansion can reaccelerate growth.

Name

Clipan Finance Indonesia

Legal name

PT Clipan Finance Indonesia Tbk

Website

https://clipan.co.id

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PT Clipan Finance Indonesia Tbk is a Jakarta-based public multifinance company (IDX: CFIN) within Panin Group that provides vehicle financing (new and used cars), Duit Cair multiguna cash loans, and heavy equipment financing to Indonesian consumers and SMEs through 120+ branches and digital partner channels.

Ownership category

akta.pro rank

Product category

Consumer Auto Financing

NAICS

Nondepository Credit Intermediation (5222), Sales Financing (522220)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industry

Merchant Cash Advance (MCA) & Revenue-Based Financing (FSAKAGAD)

Keywords

• Vehicle financing
• Consumer auto loans
• Multipurpose cash loans
• Heavy equipment financing
• Multifinance services

Headquarters

HQ city

Palmerah

HQ country

Indonesia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Vehicle Financing: Financing for new and used vehicles (mobil baru dan mobil bekas) generating interest income from installment payments over tenor periods of 1-6 years.
2. Multiguna/Dana Tunai (Duit Cair): Cash loan product for various purposes including home renovation, education, and urgent needs. Customers pledge vehicle BPKB (registration certificate) as collateral. Interest-based revenue model.
3. Heavy Equipment/Fleet Financing: Financing for capital goods such as heavy equipment for mining and construction machinery.
4. Insurance Partnerships: Commission revenue from insurance product partnerships including Smartsure (roadside assistance protection) and MAG Insurance (Personal Accident coverage up to Rp50 million for Duit Cair customers).

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Clipan Finance Indonesia is a multifinance company providing installment-based vehicle financing for new and used cars, multipurpose cash loans (Duit Cair) secured by vehicle BPKB, heavy equipment and fleet financing for commercial buyers, and ancillary services such as STNK/BPKB document management and refinancing. Products are distributed through 120+ branch offices across Indonesia, a digital partner network (Fuse Pro), auction-house partnerships (JBA), and e-commerce channels (Blibli).

Product overview

Clipan Finance Indonesia operates as a financing company (multifinance) offering a portfolio of vehicle financing products including new car financing (Clipan Mobil Baru), used car financing (Pembiayaan Mobil Bekas), cash loans branded as Duit Cair (multipurpose Dana Tunai), and heavy equipment/fleet financing. The company also provides ancillary services including STNK vehicle registration management and BPKB certificate management. A key product is KPM Refinancing for existing Panin Bank customers. The product portfolio is complemented by promotional programs and partnerships for distribution channels.

Differentiator

Problem solved

Functional benefit

Brands

• Duit Cair: Produk pembiayaan dana tunai/multiguna dari Clipan Finance untuk kebutuhan konsumtif maupun produktif
• Clipan Mobil Baru
• Clipan Mobil Bekas

Products and services

• Clipan Mobil Baru (New Car Financing) Installment financing for the purchase of brand-new passenger vehicles (Honda, Toyota, Suzuki, Mitsubishi, Hyundai, Mercedes-Benz, etc.) through authorized dealers, with tenors of 1-6 years, minimum vehicle price Rp50 million, and minimum down payment of 25%.
• Pembiayaan Mobil Bekas (Used Car Financing) Installment financing for pre-owned vehicles (typical model years 2011-2021) purchased from dealers or through JBA auction channels, with tenors up to 5 years and starting interest rates from 15%.
• Duit Cair (Dana Tunai Multiguna / Cash Loan) Multipurpose cash loan secured by vehicle BPKB, with loan amounts of Rp25 million to Rp500 million, tenors of 1-4 years, and flat interest rates starting from 0.7% per month. Bundled with MAG Insurance Personal Accident coverage up to Rp50 million. Used for home renovation, education, business capital, or emergency needs.
• Pembiayaan Alat Berat (Heavy Equipment Financing) Financing for capital goods such as heavy equipment used in mining and construction machinery, with market-competitive interest rates and customized tenor.
• Pembiayaan Fleet (Fleet Financing) Fleet financing for commercial vehicles and fleet operations in logistics and related sectors, with market-competitive rates.
• Premium Vehicle Financing Specialized financing for premium and luxury used vehicles (Mercedes-Benz, BMW, Lexus, etc.) with OTR minimum Rp500 million, tenors 1-4 years, 7.50% promotional rate, and combination insurance coverage.

Quantifiable outcome

• New financing disbursement grew 100.24% to Rp7.4 trillion in 2022
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• SmartsureminorStrategic or Co-development Partner · 1 May 2023Roadside assistance and vehicle protection partnership for Clipan Finance customers. Smartsure provides free services including towing, battery jump-start, spare key delivery, tire replacement, and emergency fuel delivery for approved car financing customers. Collaboration enhances customer experience and vehicle protection.
• JBA (Jakarta Auction)coreChannel Partner/ Reseller/ Distributor · 17 February 2022Used car auction financing partnership enabling JBA customers to purchase vehicles through installment financing. Clipan Finance provides competitive interest rates, easy requirements, and fast processing for auction winners seeking financing.
• BlibliminorChannel Partner/ Reseller/ Distributor · 16 February 2022E-commerce promotional partnership through Blibli platform for 'Promo DUA LIMA' campaign offering financing convenience and benefits for consumers shopping through the Blibli platform.
• Fuse InsurtechcoreChannel Partner/ Reseller/ Distributor · 20 December 2021Strategic distribution partnership enabling Duit Cair (cash loan) product distribution through Fuse Pro application. Fuse provides 60,000+ sales partners/marketing agents to reach customers who own vehicles and need cash loans with BPKB (vehicle registration) as collateral. Clipan Finance processes loans while Fuse handles distribution and customer acquisition through technology platform.
• MAG InsuranceminorStrategic or Co-development Partner · 21 October 2021Personal Accident (PA) insurance partnership for Duit Cair customers providing coverage up to Rp50 million for accidental death or injury. Included as added value for customers taking cash loans with vehicle collateral.
• APPI (Asosiasi Perusahaan Pembiayaan Indonesia)minorStrategic or Co-development PartnerIndustry association membership. APPI coordinates joint CSR activities and participated in disaster relief for Cianjur earthquake victims in December 2022.
• OJK (Otoritas Jasa Keuangan)coreStrategic or Co-development PartnerFinancial services regulator providing licensing and supervision. Clipan Finance participates in Bulan Inklusi Keuangan (BIK) programs organized by OJK for financial inclusion initiatives.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• BFI Finance Indonesia: Listed Indonesian multifinance offering vehicle financing, multipurpose loans (with BPKB collateral), and heavy equipment financing — almost identical product set to Clipan, including the same collateralized cash-loan model.
• WOM Finance: Listed Indonesian multifinance with new/used car, motorcycle, and multiguna cash loan products — directly overlapping Clipan's product portfolio, particularly in second-hand and BPKB-backed lending.
• Adira Dinamika Multi Finance: One of Indonesia's largest multifinance companies, focused on vehicle (new and used) and durable goods financing. Directly comparable to Clipan in product mix (auto loans, cash loans), customer segment (consumers), and OJK-regulated nonbank lender model.
• Astra Credit Companies (ACC): Astra International's multifinance arm focused on Toyota/Honda vehicle financing and other auto loans. Directly competes with Clipan in new-car financing for mainstream Japanese brands.
• BAF (Bosowa Anugerah Finance): Indonesian multifinance specializing in motorcycle and used-car financing, with growing multiguna products. Comparable in scale and target segment to Clipan, though more motorcycle-skewed.
• MNC Finance: Listed Indonesian multifinance (MNC Group) offering vehicle financing, factoring, and consumer loans. Competes with Clipan in the same OJK-supervised multifinance category.
• OTO Multiartha: Indonesia-focused multifinance (part of Summarecon-affiliated group) offering vehicle and multiguna financing. Comparable business model and target customer base to Clipan.
• Mega Central Finance: Indonesian multifinance (affiliated with Mega Bank group) offering new/used car, motorcycle, and heavy equipment financing. Direct competitor with similar OJK-regulated multifinance model.
• BCA Finance: Subsidiary of Bank Central Asia specializing in new and used car financing, motorcycles, and fleet financing. Closely comparable to Clipan's core auto-finance business with similar customer profile and distribution through dealer networks.

Broad incumbents

• Bank Panin (parent group): Controlling shareholder of Clipan Finance within the Panin Group; a broader commercial bank that competes in adjacent consumer lending (KPR, KKB) and provides cross-sell and funding support to Clipan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/clipan_finance
• Facebookfacebook.com/clipanfinance.official
• Instagraminstagram.com/clipanfinance.official

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Clipan Finance Indonesia