Table of Contents

1.  Executive Summary

1.1. Indonesia Peer-to-Peer Lending Market Overview and Size

1.2. Market Segmentation

1.3. Competition Scenario

Indonesia Peer-to-Peer Lending Regulations

Indonesia Peer-to-Peer Lending Future and projections

2.  Research Methodology

2.1.          Market Definitions

2.2.          Abbreviations

2.3.          Market Size and Modeling

Approach – Market Sizing

Limitations

3. Indonesia Economy Overview

3.1. Evolution of Banking in Indonesia

3.2.  Structure of Banking System in Indonesia

3.3. Types of Banks in Indonesia

Credit Disbursal Scenario in Indonesia

4. Value Chain Analysis (Operating Model, Process Flow, Pros and Cons, Challenges Faced and Solutions)

5.  Indonesia Peer-to-Peer Lending Market Ecosystem

6.  Indonesia Peer-to-Peer Lending Market Overview

6.1. Key Takeaways from Indonesia Peer-to-Peer Lending Industry

6.2. Reasons for Emergence of Peer-to-Peer Lending

6.3. Fintech Landscape in Indonesia

7.  Government Regulations

7.1. Financial Services Authority, OJK

7.2. Comparison of Regulation between Indonesia and India

8.  Issues and Challenges

8.1. Limited Access to Credit History Database

8.2. Funds Transfer and misuse

8.3. Bases 3, Banks and Peer-to-Peer Loans

8.4. Illegal Peer-to-Peer Lending Operators

8.5. Legal Issues Related to Fintech

8.6. Fails to Solve Financial Inclusion Concerns

8.7. Adverse Selection

8.8. Long Term Lending

9.  Cross Comparison of Indonesia Peer-to-Peer Lending Platforms and Banks

10. Indonesia Peer-to-Peer Lending Market Size, 2016-2018

10.1.  Indonesia Peer-to-Peer Lending Market Segmentation by Disbursement, 2018

11. Competition Stage, Major Players, Competitive Trends and Competition Parameters

11.1. Strength and Weakness of Major Players (Koinworks, Investree, Modalku, Amartha, Akseleran, Crowde, Crowdo, Danamas, and Aktivaku)

11.2. Market Share of Major P2P Lending Platforms by Loan Disbursed, 2018

11.3. Heat Map of P2P Lending Platforms by Presence in Personal Loans, Term Loans, Invoice Financing, Buyer Financing, Collateral, Bond Issue, SE Asia Presence, Sharia Financing

11.4. Cross Comparison between P2P Lending Players (Loan Disbursed, Business Model, Number of Lenders, Borrowers, NPL, Average Loan Amount, Investors, Fund Raised), 2018

12. Company Profiles (Company Synopsis, Business Strategy, USP, Lenders and Borrower Profile and Employee Headcount, Business Model, Number of Loans, Amount Disbursed, NPL, Commission Income, Investor Return, Average Loan Duration)

12.1.        Modalku

12.2.        Danamas

12.3.        Investree

12.4.        Koinworks

12.5.        Crowde

12.6.        Amartha

12.7.        Crowdo

12.8.        Akseleran

12.9.        Mekar

12.10.      Aktivaku

13. Indonesia Peer to Peer Lending Market Future Outlook and Projections, 2019E-2024E

Key Takeaways from Indonesia Peer-to-Peer Lending Industry

Future Ecosystem Interactions

14. Analyst Recommendations in Indonesia Peer to Peer Lending Market

14.1.        Success Case Study - Faircent

14.2.        Failure Case Study – Lending Club

Disclaimer

Contact Us

List of Figure

Figure 3‑1: Annual Estimates of GDP at Current Price in IDR Trillion and Growth Rate in Percentage (%), CY’2012-CY’2018

Figure 3‑2: Number of Households that have Access to Internet in Indonesia in Thousands (‘000), CY‘2013-CY’2018

Figure 4‑1: Value Chain Analysis of Indonesia Peer-to-Peer Lending Market and Commission Margin Involved

Figure 4‑2: Process Flow Diagram for Indonesia Peer-to-Peer Lending Industry

Figure 5‑1: Ecosystem of Indonesia Peer-to-Peer Lending Market including Lenders, Platforms, Partners and Borrowers

Figure 6‑1: Business Cycle Analysis of Indonesia Peer-to-Peer Lending Industry including Emerging Phase, Growth Phase and Maturity Phase

Figure 6‑2: Lender Segmentation in Indonesia Peer-to-Peer Lending industry including Lenders in and Outside Indonesia, 2018

Figure 10‑1: Total Loan Disbursed by Peer-to-Peer Lending Platforms in IDR Billion in Indonesia, 2016-2018

Figure 10‑2: Total Number of Borrowers Registered on all Peer-to-Peer Lending Platforms in Thousands in Indonesia, 2016-2018

Figure 10‑3: Total Number of Lenders Registered on all Peer-to-Peer Lending Platforms in Thousands in Indonesia, 2016-2018

Figure 12‑1: Modalku Total Loans Disbursed in IDR Billion for the period, CY’2015-CY’2019(April)

Figure 12‑2: Total Approved Loans on Modalku Platform, 2015-2019(July)

Figure 12‑3: Modalku Loan Disbursement by End-User Economic Sector on the Basis of Loan Disbursement in Percentage (%), CY’2019

Figure 12‑4: Loans Disbursed on Danamas Platform in IDR Billion for the Period 2016-2018

Figure 12‑5: Investree Loans Disbursed in IDR Billion, CY’2016-CY’2019

Figure 12‑6: Loan Disbursed by Koinworks in IDR Billion in Indonesia, 2016-2019(April)

Figure 12‑7: Amartha Loan Disbursed in IDR Billion in Indonesia for the period CY’2017-CY’2019

Figure 12‑8: Crowdo Annual Loan Disbursement in IDR Billion in Indonesia, CY’2015-CY’2019(Till May)

Figure 12‑9; Crowdo Loan Disbursement on the Basis of End-User Economic Sector on the Basis of Loan Disbursement in Percentage (%), 2018

Figure 12‑10: Loans Disbursed on Akseleran Platform in IDR Billion, 2017-2019(Estimated)

Figure 12‑11: Loan Disbursed on Mekar Platform in IDR Billion in Indonesia, 2016-2018

Figure 13‑1: Indonesia Peer-to-Peer Lending Market Future Projections on the Basis of Loan Disbursed in IDR Trillion, 2019E-2024E

Figure 13‑2: Future Ecosystem for Mature Peer-to-Peer Lending Markets

Figure 14‑1: Timeline of Lending Club, 2007-2018

List of Table

Table 3‑1: Evolution of Banking in Indonesia with respect to P2P Lending in Indonesia

Table 3‑2: Type of Banks including State Owned Banks, Private Banks, Regional Government Banks and Private Banks in Indonesia, as on December 31^st 2018

Table 3‑3: Loans Outstanding by Commercial Banks on the basis of Types of Banks (State Banks, Regional Government Banks, Private National Banks, Foreign Banks and Joint Banks and Rural Banks) in IDR Trillion, 2015-2018

Table 3‑4: New Loans Approved by Commercial Banks on the basis of Type of Loans in IDR Trillion, CY’2015-2018

Table 3‑5: Loans Outstanding by Commercial and Rural Banks on the Basis of Top 10 Economic Sectors in Indonesia in IDR Trillion, CY’2016-CY’2018

Table 4‑1: Pros and Cons of Investing in Peer-to-Peer Lending

Table 4‑2: Value Chain Analysis of Indonesia P2P Lending Market including Entities and Challenges faced by Entities and Solution to those Challenges

Table 5‑1: Ecosystem Analysis of Indonesia Peer-to-Peer Lending Industry Including Entity, Number of Players, Major Players and Nature of Space

Table 6‑1: Introduction to Indonesia P2P Lending Market Overview  including Genesis, Current Market Stage, Overview Genesis, Growth Drivers, Trends, Competition Scenario, Regulations, Issues and Challenges, Market Structure and Future

Table 6‑2: Key Takeaways from Indonesia Peer-to-Peer Lending Industry including Parameters and Description

Table 6‑3: Reasons for Emergence of Peer-to-Peer Lending in Indonesia including Parameter and Description

Table 6‑4: Regulatory Authorities and their Scope of Regulations with respect to Fintech in Indonesia P2P Lending Market

Table 6‑5: Fintech Ecosystem in Indonesia P2P Lending Market including Type of Fintech Startup, Percentage and Number of Companies, as of December 31^st 2018

Table 7‑1: Indonesia P2P Lending Market Regulations Enacted by Financial Services Authority including Scope of Regulation

Table 7‑2: Recent Government Regulations in Indonesia P2P Lending Market

Table 7‑3: Cross Comparison of Regulations between India, China and Indonesia in P2P Lending Market

Table 9‑1: Cross Comparison of Banking System in Indonesia with Peer-to-Peer Lending Platforms in Indonesia Including Loan Rates, Application Process, Loan Amount, Business Model, Loan Amount and Non-Performing Loan

Table 10‑1: Rationale and Description for Indonesia Peer-to-Peer Lending Market Size by Loan Disbursed including Year-on-Year Description, 2016-2018

Table 10‑2: Indonesia Peer-to-Peer Lending Market Size on the Basis of Loan Disbursed in IDR Billion, Total Number of Borrower Accounts, Total Number of Lenders and Total Registered Companies Under OJK, CY’2016-CY’2018

Table 10‑3: Indonesia Peer-to-Peer Lending Market Segmentation by Location of Borrowers (Within Java and Outside Java) on the Basis of Loan Disbursement in IDR Billion, CY’2018

Table 10‑4: Comparison of Different Parameters between cities in Java and Outside Java

Table 11‑1: Competition Landscape of Indonesia Peer-to-Peer Lending Industry with Parameter (Competition Stage, Major Players, and Competitive Trends and Comparison Parameters basis for Competition) and Description

Table 11‑2: Strengths and Weaknesses of Major Players (Koinworks, Investree, Modalku, Amartha, Akseleran, Crowde, Crowdo, Danamas, and Aktivaku) in Indonesia P2P Lending Market

Table 11‑3: Market Share of Major Players (Koinworks, Investree, Modalku, Amartha, Akseleran, Danamas and Others) Operating in Indonesia Peer-to-Peer Lending Market on the Basis of Loans Disbursed in IDR Billion, as on December 31^st 2018

Table 11‑4: Market Share of Major Players (Modalku, Investree, Koinworks, Amartha and Others) Operating in Indonesia Peer-to-Peer Lending Market on the Basis of Loans Disbursed in Percentage (%), as on December 31^st 2018

Table 11‑5: Heat-map of Indonesia Peer-to-Peer Lending companies on the basis of Parameters (Personal Loans, Term Loans, Invoice Financing, Buyer Financing, Collateral, Bond Issue, SE Asia Presence, Sharia Financing)

Table 11‑6: Cross Comparison Matrix of Indonesia Peer-to-Peer Lending Platforms (Modalku, Investree, Koinworks and Crowdo) Including Loan Disbursed (IDR Billion) (as of December 2018), Business Model, Interest Rate, Number of Lenders (As of July 2019), Number of Borrowers, NPL (%) (As of July 2019), Average Ticket Size (IDR Million), Investors, Employees (As of July 2019), Google Store App (As of July 2019), Year of Inception, Current Funding Round and Funding Amount

Table 11‑7: Cross Comparison Matrix of Indonesia Peer-to-Peer Lending Platforms (Crowde, Amartha, Aktivaku, Akseleran) Including Loan Disbursed (IDR Billion) (as of December 2018), Business Model, Interest Rate, Number of Lenders (As of July 2019), Number of Borrowers, NPL (%) (As of July 2019), Average Ticket Size (IDR Million), Investors, Employees (As of July 2019), Google Store App (As of July 2019), Year of Inception, Current Funding Round and Funding Amount

Table 11‑8: Cross Comparison Matrix of Indonesia Peer-to-Peer Lending Platforms (Danamas, Mekar) Including Loan Disbursed (IDR Billion) (as of December 2018), Business Model, Interest Rate, Number of Lenders (As of July 2019), Number of Borrowers, NPL (%) (As of July 2019), Average Ticket Size (IDR Million), Investors, Employees (As of July 2019), Google Store App (As of July 2019), Year of Inception, Current Funding Round and Funding Amount

Table 12‑1: Company Profile of Modalku including Company Synopsis, Business Strategy, USP, Lenders and Borrower Profile and Number of Employees

Table 12‑2: Modalku’s Product Portfolio including Description, Share of Product by Number of Loans and Percentage Share by Amount of Loans in CY’2018

Table 12‑3: Key Partnerships of Modalku including Partner Name and Description

Table 12‑4: KPIs (Number of Loans Disbursed, Amount Disbursed, Loan Outstnding, Average Loan Duration, Investor Return, Commission Income) for Modalku, 2018

Table 12‑5: Company Profile of Danamas including Company Synopsis, Business Strategy, Lenders and Borrower Profile and Business Model

Table 12‑6: Danamas Product Portfolio including Product Name and Description

Table 12‑7: Strategic Collaboration of Danamas including Partner Name and Description

Table 12‑8: Danamas Investors and Shareholding Percentage (%)

Table 12‑9: KPIs (Number of Loans, Amount Disbursed, NPL, Commission Income, Investor Return, Average Loan Duration) of Danamas in Indonesia, 2018

Table 12‑10: Company Profile of Investree including Company Overview, USP, Business Strategy, Lender and Borrower profile, Number of Employees and Business Model

Table 12‑11: Investree Product Portfolio including Product Name and Description

Table 12‑12: Key Partnerships of Investree including Partners and Description

Table 12‑13: Financial KPIs (Loan Disbursed, Average Loan Amount, Investor Return, Loan Outstanding, Commission, Average Loan Duration) of Investree, 2018

Table 12‑14: Investree Investor Information including Country of Origin and Funding Round Participation

Table 12‑15: Investree Funding Rounds including Amount and Year of Funding

Table 12‑16: Company Profile of Koinworks including Company Synopsis, Business Strategy, USP, Lenders and Borrower Profile

Table 12‑17: KoinWorks Product Portfolio including Description on Koinbisnis, KoinPintar(Smart Coin) and KoinSehat

Table 12‑18: Key Partnerships of Koinworks including Partners and Description

Table 12‑19: Financial Information (Loan Disbursed, Average Loan Amount, Investor Return, Loan Outstanding, Commission, Average Loan Duration) of Koinworks for the year CY’2018

Table 12‑20: Koinworks Investors Information including Country of Origin and Funding Participation

Table 12‑21: Koinworks Funding Rounds including Participating Investors, Amount and Year of Funding

Table 12‑22: Company Profile of Crowde including Company Overview, Business Strategy, USP, Lender and Borrower Profile, Number of Employees and Business Model

Table 12‑23: Crowde’s Financial KPIs (Loan Disbursed, Investor Return, Loan Outstanding, Commission, NPL), CY’2018

Table 12‑24: Crowde’s Investor Information including Country of Origin and Funding Round Participation

Table 12‑25: Crowde’s Funding Stage including Year and Amount of Funding

Table 12‑26: Company Profile of Amartha Including Company Overview, Business Strategy, USP, Lenders and Borrower Profile and Number of Employees

Table 12‑27: Key Partnerships of Amartha including Partners and Description of partnership

Table 12‑28: Financial KPIs (Loan Disbursed, Average Loan Amount, Investor Return, Loan Outstanding, NPL, Average Loan Duration) of Amartha in Indonesia P2P Lending Market, CY’2018

Table 12‑29: Amartha Investor information including Country of Origin and Funding Round Participation

Table 12‑30: Funding Information of Amartha including Funding Round and Amount and Year of Funding

Table 12‑31: Company Profile of Crowdo including Company Synopsis, Business Strategy, USP, Lenders and Borrower Profile and Number of Employees

Table 12‑32: Crowdo Product Portfolio with Product Name and Description

Table 12‑33: Key Partnerships of Crowdo including Partner Name and Description of Partnership

Table 12‑34: Financial Information (Loan Disbursed, Average Loan Amount, Investor Return, Loan Outstanding, Commission, NPL) of Crowdo for the period CY’2016-CY’2019(May)

Table 12‑35: Company Profile of Akseleran including Company Synopsis, Business Strategy, Lenders and Borrower Profile

Table 12‑36: Product Portfolio of Akseleran including Product Name and Description

Table 12‑37: Strategic Collaboration of Akseleran including Partner Name and Description

Table 12‑38 Financial Information (Loan Disbursed, Average Loan Amount, Investor Return, Loan Outstanding, Commission, Average Loan Duration) of Akseleran: P2P Platform

Table 12‑39: Company Profile of Mekar including Company Overview, Business Strategies, Lender and Borrower Profile, Number of Employees and Business Model 

Table 12‑40: Financial KPIs (Loan Disbursed, Average Loan Amount, Investor Return, Loan Outstanding, Commission, Average Loan Duration) of Mekar, 2018

Table 12‑41: Strategic Collaboration of Mekar including Partner Name and Description

Table 12‑42: Company Profile of Aktivaku including Company Overview, Business Strategy, Lender and Borrower Profile, Number of Employees and Business Model

Table 12‑43:  KPIs (Loan Disbursed, Average Loan Amount, Investor Return, Loan Outstanding, Average Loan Duration) of Aktivaku in Indonesia P2P Lending Market, 2018

12‑44: Strategic Collaboration of Aktivaku including Partner Name and Description

Table 12‑45: Product Portfolio of Aktivaku including Product Name and Description

Table 13‑1: Rationale and Description for Indonesia Peer to Peer Lending Market Future Outlook and Projections, 2019-2024

Table 13‑2: Key Takeaways from Indonesia Peer-to-Peer Lending Industry including Parameters and Description

Table 13‑3: Future Ecosystem for Indonesia P2P Lending Platforms

Table 14‑1: Recommendations for Indonesia Peer-to-Peer Lending Market

Table 14‑2: Case Analysis of Faircent as a Successful Peer-to-Peer Lending Platform

Table 14‑3: Case Analysis of Lending Club as a Failure Peer-to-Peer Lending Platform