Cermati

Cermati is an Indonesian financial technology platform that offers a range of financial products and services, including personal loans, credit cards, and investment options, enhancing accessibility for consumers and small businesses. Founded in 2015 and headquartered in Jakarta, Indonesia, Cermati operates under PT Agregasi Cermat Indonesia, focusing on facilitating access to various financial services. The company has successfully closed 8 deals, with the latest being a Series D funding round in June 2022, raising USD 17. 33 mn from investors including Global Distribution Niaga Pte.

Ltd. and MDI Ventures, bringing its total amount raised to USD 17. 33 mn and its valuation to USD 344. 33 mn.

The founders, Andhy Koesnandar, Carlo Gandasubrata, and Oby Sumampouw, have a history of entrepreneurial ventures that contribute to the strategic direction of the company. Cermati specializes in a comprehensive suite of financial products and services, including personal loans, credit cards, insurance, investment options, and precious metals trading, specifically gold, designed to meet the diverse financial needs of individual consumers and small businesses. The platform allows users to easily compare and apply for financial products, streamlining the customer experience, particularly appealing to tech-savvy millennials and Gen Z consumers. Cermati generates revenue through transactional activities related to its financial products and services.

Its revenue model encompasses commissions from financial institutions for each successful loan or credit card application processed through its platform. Additionally, Cermati collaborates with insurance providers and investment firms, enabling a diversified income stream through commissions on personal loans and other financial transactions, effectively enhancing customer satisfaction and retention. In June 2022, Cermati raised USD 17. 33 mn in Series D funding, which will be utilized to support the development of new financial products and services aimed at expanding its market reach.

The company plans to enhance its digital platform to introduce additional offerings and improve existing services. Future growth initiatives also include targeting expansion into new geographic regions within Southeast Asia by 2023, aiming to establish a broader presence in the fintech landscape.