Amid an expanding middle class and growing adoption of digital payments, both startups and large internet platforms are making a grab for Indonesia's fintech market.
The internet economy in Southeast Asia hit $100B in 2019, on the back of strong growth in e-commerce, ride-hailing, online travel, and media, according to Google and Temasek.
The largest internet economy in the region is Indonesia, which has more than quadrupled in size since 2015 to reach $40B.
As Indonesia’s population of 264M increasingly enters the middle class — and leapfrogs to a smartphone-first lifestyle — fintech adoption across payments, lending, insurance, and investing will be a key component of Indonesia’s growth over time.
