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5 Emerging Fintech Startups from Indonesia to Watch in 2020

Established in late-2017, Alami started as an aggregator platform focused on the Islamic market in 2018 before expanding to providing small and medium-sized enterprise (SME) financing in 2019 after receiving regulatory approval from Otoritas Jasa Keuangan (OJK), the Indonesian Financial Services Authority.

In November 2019, Alami raised an undisclosed amount of investment commitment led by Golden Gate Ventures, with participation from Agaeti Ventures and RHL Ventures. It said it would the fresh funding to support talent acquisition and product development as well as strengthen its operational structure.

As of March 2020, Alami had disbursed over US$7.5 million in sharia-compliant financing to SMEs. The startup now plans to become a digital bank.

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