Indonesia crowdfunding platforms driving inclusive finance
Indonesia’s rising crowdfunding tide: a gateway to inclusive finance
In Indonesia, crowdfunding is not just a buzzword—it’s a pulse-point of economic innovation and community resilience. From rural farming cooperatives seeking agri-financing to millennial investors diversifying portfolios through digital platforms, crowdfunding has quietly reshaped the nation’s funding ecosystem over the past decade. With lower entry barriers compared to traditional investing and an ever-growing digital-savvy population, both fundraisers and investors across the archipelago are embracing this model as a legitimate financial avenue.
Industries like farming, real estate, small and medium enterprises (SMEs), and creative arts regularly turn to debt or equity crowdfunding for capital. Meanwhile, peer-to-peer (P2P) lending dominates due to its accessibility, speed, and regulation-backed trust. Even niche sectors like Islamic finance and impact initiatives have found fertile ground for innovation here. Whether it’s equity ownership in a family-run café or a loan to boost pepper cultivation, crowdfunding in Indonesia is as diverse as the country itself—and growing stronger every year.
Financial overview of the crowdfunding market
The Indonesian crowdfunding market showcases impressive momentum—especially within digital lending channels. As of 2025 projections, crowdinvesting (equity-based fundraising) is anticipated to generate transaction volumes of USD 7.51 million, equating to approximately IDR 120 billion. Though a relatively modest figure, this marks an annual growth of 6.9%, hinting at consistent upward movement in public interest and confidence.
However, crowdlending—particularly P2P lending—currently holds the lion’s share. In 2022 alone, the registered volume for securities-based crowdlending reached IDR 50.7 billion (around USD 3.17 million). Combining historical momentum with aggressive fintech expansion and favorable digital regulations, the debt-based crowdfunding segment contributes roughly 87% of total capitalization, dwarfing the 13% share commanded by equity. This is a telling indicator of investor appetite leaning toward debt over ownership in Indonesia’s digital capital market.
Looking ahead to 2025 through 2028, both segments are projected to grow at double-digit compound annual growth rates (CAGR). Enhanced transparency, platform stability, and online KYC processes have removed many traditional investing barriers, especially for younger users. As a result, Indonesia’s investment climate is becoming increasingly fertile for alternative financing routes. Crowdfunding fits seamlessly within this evolving financial framework, giving rise not only to more participation but also smarter capital allocation across underserved sectors and regions.
The local landscape: which platforms shape Indonesia’s market
Indonesia’s crowdfunding ecosystem is rich in variety—from classic peer-to-peer lending models to sharia-compliant equity and debt offerings. Among the platforms operating domestically, we see a strong presence of P2P lending, equity, debt, and hybrid securities crowdfunding. Notably, donation-based platforms exist in large numbers, but for the purpose of investment-focused analysis, those are excluded from this section.
The minimum investment amount across platforms ranges widely. The smallest ticket sizes begin at IDR 10,000, such as Crowde. More common, however, is the IDR 100,000 entry point, seen in platforms like Amartha or Akseleran, marking this as the most accessible and widely adopted minimum. Higher-end platforms such as Bizhare or CrowdDana ask for as much as IDR 1 million or more, usually due to the equity nature of the investment.
On average, platform fees are lean and tend to center around a 5% charge on the total investment or loan amount, commonly taken from fundraisers. In some cases like Shafiq, a small percentage (0.5%) is charged from the investor side. Most fees cover due diligence, escrow management, and platform upkeep, ensuring risk mitigation and smoother transactions.
The interest rate environment across platforms reflects a healthy variance that appeals to different risk appetites. At the lower end, platforms like Amartha provide modest-but-stable annual returns of around 7%. Higher-risk, Shariah-compliant platforms like Nabitu promise up to 20%–30% in annual returns for debt instruments, albeit with project-specific caveats. The most common interest rates hover between 10% and 15%, as seen in Akseleran, iGrow, and Ekuid.
Investor offerings typically include access to debt or equity instruments, complete with regular return updates, dashboard-tracking, and risk-mitigating features like insurance or collateral-backed structures. Fundraisers—ranging from farmers and SMEs to creative startups—gain regulated access to capital, promotional exposure, and support in legal or financial structuring. For instance, LBS facilitates sukuk and equity issuance exclusively for Shariah investors, while Visiku targets startups and MSMEs with flexible debt-equity options.
In summary, P2P lending platforms like Crowde and Amartha dominate the volume and reach across Indonesia, while equity-focused platforms like Bizhare or CrowdDana cater to higher-stake investor pools chasing long-term ownership gains.
A regulatory framework that encourages and protects
Indonesia’s regulatory system for crowdfunding is both robust and progressive. All crowdfunding operations fall under the supervision of the Financial Services Authority (OJK – Otoritas Jasa Keuangan), ensuring a legally compliant and investor-safe environment.
The framework distinguishes between two key segments: P2P lending and securities crowdfunding (equity and debt). For P2P lenders, OJK Regulation No. 10/POJK.05/2022—effective starting January 2024—replaces an older 2016 law. It mandates platforms to have at least IDR 25 billion (USD ~1.6 million) in paid-up capital, ensuring financial resilience. Crowdinvesting providers, meanwhile, are governed by OJK Regulation No. 57/POJK.04/2020, later refined in 2021 via Regulation No. 16.
Fundraising campaigns are strictly monitored. Only limited liability Indonesian companies with assets beneath IDR 10 billion (excluding real estate) may engage in equity crowdfunding—up to a cap of IDR 10 billion (USD ~625,000) in 12 months. Additionally, specific investment caps apply to individual investors based on their annual income profile, protecting them from overexposure. Meanwhile, P2P lending limits restrict any one lender from contributing more than 25% of a platform’s total loans, diversifying portfolio traffic and buffering systemic risk.
This transparent and well-demarcated regulation benefits both fundraisers and investors. It enhances public trust by legitimizing platforms, provides investor protections, fosters meaningful disclosures, and increases fundraising success rates—especially for SMEs and underbanked communities. It’s fair to say that Indonesia’s crowdfunding industry is regulated, secure, and steadily maturing.
Five platforms leading the Indonesian crowdfunding renaissance
Amartha has earned its reputation as one of Indonesia’s most impactful P2P lending platforms. Established in 2010, it empowers rural women entrepreneurs through group-based microloans, creating financial inclusion beyond urban centers. With a funded volume of IDR 35 trillion and tens of thousands of users, it offers low-entry investments (as low as IDR 100,000) and interest rates around 7–12.5% per annum. Investors enjoy weekly returns and strong risk management, often bolstered by partial insurance. Amartha’s village-level network makes it unique in targeting unbanked but economically active communities.
Akseleran is a leading force in digital P2P lending for Indonesian SMEs. Since its inception in 2016, it has connected over 229,000 investors and raised a staggering IDR 12.5 trillion in lending volume. With investments starting from just IDR 100,000 and average annual returns of 9.5% to 10.5%, it crafts an accessible entry point into business financing. Akseleran also offers robust protection—many loans are either collateralized or insured up to 99%, significantly boosting investor confidence and positioning it as one of the safest P2P choices in the market.
Bizhare is the go-to platform for anyone looking to dive into equity and debt securities with confidence. Founded in 2017, this OJK-licensed platform facilitates co-investments in SMEs, franchises, and real estate projects. With over 214,000 investors and diverse tools like automated profit distribution and a secondary market, Bizhare combines convenience with thorough due diligence. The IDR 1 million minimum and attractive returns (up to 18%) appeal to serious retail investors. Its edge lies in offering bonds, sukuk, and shares under one integrated platform—ideal for investors craving diversity with oversight.
LBS brings Shariah investors a scalable way to channel funds into halal enterprises. Active since 2021, it enables ethically aligned capital deployment through equity shares and sukuk with promised returns up to 20% annually. Boasting a total funded volume of over IDR 204 billion and more than 12,000 investors, LBS adheres to sharia law under respected scholars like Ustadz Dr. Erwandi Tarmidzi. By combining digital KSEI securities with real-time tracking and Islamic guidance, LBS taps into Indonesia’s fast-growing Muslim investor demographic with clarity and trust.
Crowde stands out for blending agriculture with finance. Since 2015, this agri-fintech platform has coupled over 21,000 investors with community-driven farming projects worth more than IDR 1 trillion. Its appeal lies in transparency and social utility—investors fund crop production, aquaculture, or livestock, while farmers receive technical support and market access. With entry points as low as IDR 10,000 and returns stretching up to 16.9% annually, Crowde offers both high impact and strong dividends. It brings agriculture to the smartphone, democratizing capital into Indonesia’s oldest industry.
Conclusion
Indonesia’s crowdfunding market is an impressive blend of digital innovation and social impact. Anchored by careful regulation and powered by highly accessible platforms, it offers clear advantages to both seasoned investors and capital-hungry SMEs. Unique models—such as sharia-compliant financing or farming-focused platforms—set Indonesia apart from other regional players, carving out niches that resonate with local culture and economic need.
Anyone from students saving for the future to startup founders with a vision can benefit from this ecosystem. For retail investors looking for returns beyond traditional savings, and fundraisers searching for capital without red tape, Indonesia’s platforms deliver opportunity at scale.
As the country moves deeper into the digital investing era, expect more synergy between tech, trust, and transparency. The next wave of financial growth may come not from big banks, but from small, well-placed investments—and the platforms that make them possible.
