Payfazz aims to be Indonesia's first on-demand financial services company

Indonesia

4 min read

Aug 10, 2020

By Marcel Thee

Payfazz makes banking “agents” out of Indonesia’s many SMEs © Payfazz

Handling transactions averaging over IDR 1tn monthly, Payfazz hopes to bring the benefits of banking to all Indonesians

Having recently raised a $53m Series B funding led by B Capital and Insignia Ventures Partners, Payfazz plans to further its aims in providing access to financial services for all Indonesians, particularly those living in rural areas. The startup had previously raised $21m in a September 2018 Series A round.
“We will allocate most of the funding for fintech product innovation and user-base expansion across both Indonesia and Southeast Asia,” co-founder and CEO Hendra Kwik told CompassList.
Payfazz partners with various banks around the country to create an army of banking “ag...

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