OY! Indonesia
Overview
OY! Indonesia is a leading financial technology company based in Jakarta, Indonesia. Founded in 2017 by Jesayas Ferdinandus and his team, the company specializes in providing comprehensive digital payment solutions to businesses of all sizes. Focusing on facilitating cash and cashless transactions, OY! Indonesia has quickly risen to prominence in the fintech sector. As of 2025, the company has raised substantial funding, most notably securing $30 million in a Series A round led by SoftBank Ventures Asia, which has enabled the company to expand its operations and innovate within the payment solutions market.
Recent Developments
- August 2025: OY! Indonesia raised $15 million in a new funding round led by MUFG Innovation Partners, reducing the company’s valuation to approximately $100 million.
- 2024-2025: The company has enhanced efficiency in cash management through the integration of advanced technologies such as cash deposit machines that streamline cash flow for clients.
- July 2025: The company processed 30 million transactions monthly and served over 500 enterprise clients, showcasing substantial growth in user engagement and overall transaction volumes.
- October 2024: OY! Indonesia leveraged PagerDuty's operations management solutions to improve operational resilience, reducing Mean Time to Recovery (MTTR) by 87% since its initial integration.
- April 2024: Collaborated with PT Bank Danamon Tbk and PT Bank Rakyat Indonesia (Persero) Tbk to improve financial inclusion across Indonesia, enhancing cash management and payment systems through innovative solutions.
- Early 2024: Released comprehensive insights on payment trends impacting sectors such as hospitality and retail, expected to shape operational strategies in 2025.
- December 2023: Announced a focus on refining product feasibility, guided by market and investor needs, to transition towards profitability by late 2024.
- Mid-2023: Emphasized improvements in customer experience by simplifying transaction processes and broadening financial services to include international transactions in SGD and USD to regions like Singapore and Hong Kong.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2017 |
| Headquarters | Jakarta, Indonesia |
| Founders | Jesayas Ferdinandus |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | SoftBank ventures, MUFG Innovation Partners, Pavilion Capital, MDI Ventures |
| Industry | Financial Technology (FinTech) |
| Number of Employees | Approximately 259 as of 2025 |
Early History
OY! Indonesia began its journey in 2017 initially as a chat application that evolved into a comprehensive fintech platform by 2018. Co-founder Jesayas Ferdinandus, leveraging his experience in the technology sector, aimed to solve the complexity and inefficiencies associated with traditional money transaction methods. By 2019, the app expanded its reach by introducing digital payment aggregation solutions catering to small and medium enterprises (SMEs), marking a significant evolution in its business model. Their early success was reinforced by initial seed funding, which propelled its growth trajectory, enabling the company to quickly build a diverse set of payment solutions that cater to individual and enterprise clients alike.
Company Profile and Achievements
OY! Indonesia provides a fully integrated payment platform that encompasses both cash and digital transactions. Its services include money transfers, payment linkages, and cash management solutions, attracting a wide range of businesses seeking efficient transaction methods. Significant milestones include:
- 2018: Transitioned from a consumer-focused application to a business-centric payment solution provider.
- 2021: Achieved a notable market position with over a million users and raised $30 million in funding.
- 2023: Known for enhancing cash flow management for enterprises through real-time transaction processing and customizable payment solutions, driving substantial adoption within the retail and corporate segments.
- 2025: Continued to innovate with new financial service tools targeting efficiency and long-term financial stability for businesses, including advanced cash management solutions and cross-border transaction capabilities.
Current Operations and Market Position
OY! Indonesia currently dominates the fintech space in Indonesia by providing unparalleled payment solutions with a focus on safety and efficiency. The company’s business model emphasizes scalability and seamless integration, allowing it to cater to complex financial systems across various industries. It holds a respected competitive position alongside major payment brands such as Stripe and Xendit, focusing on the Indonesian market. Its strategic partnerships with major banks and regulatory bodies ensure compliance with industry standards, while its advanced platform facilitates real-time fund transfers and detailed transaction tracking—a crucial feature for corporate clients.
Conclusion
OY! Indonesia has established itself as a pivotal player in Indonesia's fintech industry by delivering innovative payment solutions that streamline financial processes for enterprises. With its strategic focus on expanding service reach and enhancing operational efficiency, OY! Indonesia is set for continued growth. Its commitment to integrating comprehensive financial services promises to benefit its diverse clientele, further solidifying its impact on Indonesia’s evolving digital economy landscape.