INNOVATION AT YOUR FINGERTIPS
Updated: 10/2021
UangTeman
Indonesia / Jakarta , Indonesia
Pitch
With IDR 630m loans disbursed, UangTeman is one of the biggest players in Indonesia's crowded P2P payday loan sector.
Why
Limited access to loans
Low-income Indonesians are unable to get unsecured loans and often fall victim to loan sharks.
No mobile banking
About 113m people do not have bank accounts, especially those living in remote areas.
Slow loan processing
Local banks and other microlenders take one to three weeks to approve loans.
Market
$165bn
Size of financing gap in Indonesia as of December 2020 according to estimates by Financial Services Authority (OJK).
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