# PT Fliptech Lentera Inspiring Pertiwi

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pt-fliptech-lentera-inspiring-pertiwi

- Industry: Financial Services
- Headquarters: Jakarta, Indonesia
- Website: www.flip.id
- Total disclosed funding: $102M
- Latest round: Series B (May 24, 2022)
- Investors on record: 5

## About

PT Fliptech Lentera Inspiring Pertiwi operates a comprehensive financial services platform that provides users with free bank transfers, e-wallet top-ups, and international remittance solutions, addressing the need for cost-effective financial transactions in Indonesia.Founded in 2016 in Jakarta, Indonesia, PT Fliptech Lentera Inspiring Pertiwi specializes in digital financial services. The company has raised a total of IDR 709.8 billion in funding, with its most recent round, Series B, closed on May 24, 2022. The lead investor for this round was Tencent Investment, with participation from Block, Inc. and Insight Partners. Founders Luqman Sungkar, Rafi Arriyan, and Sarah Hamasni have established a strong presence in the fintech sector, with Galih Adi, Rafi Arriyan, and Sifra Purba serving in key management roles.Flip offers a multifaceted financial services platform primarily focused on providing free bank transfers, e-wallet top-ups, and international remittance solutions. Launched to cater to the growing demand for cost-effective financial transactions in Indonesia, Flip enables users to transfer money across over 100 banks without incurring administrative fees. The platform also facilitates easy top-ups for popular e-wallet services such as DANA, OVO, GoPay, ShopeePay, and LinkAja. Additionally, Flip's "Flip Globe" service allows users to send money internationally to over 55 countries, enhancing its utility for individual consumers and small to medium-sized enterprises engaged in digital commerce.Flip operates on a transaction-based revenue model, generating income primarily from the volume of transactions processed through its platform. Users benefit from fee-free transactions when sending money or topping up e-wallets, making Flip an appealing option in the competitive fintech landscape. Partnerships with banks and financial institutions may also contribute to revenue, especially for businesses utilizing Flip for bulk transactions.In May 2022, PT Fliptech Lentera Inspiring Pertiwi secured IDR 709.8 billion in Series B funding, which it plans to utilize for accelerating team development, innovation in new products and technology, and business expansion. The company aims to enhance its offerings and expand its market reach, with specific plans to target new geographic regions and introduce additional services in the near future.

## Funding rounds

- Series B, May 24, 2022, $49M — Insight Partners, Tencent Investment, Block, Inc.
- Series B, Dec 8, 2021, $48M — Hong Shan, Insight Partners, Insignia Ventures Partners
- Series A, Feb 17, 2020, $3.5M — Hong Shan, Insignia Ventures Partners
- Seed, Jul 18, 2019, $1.7M — Insignia Ventures Partners

## Investors

- Insignia Ventures Partners (https://capitalatlas.ai/funds/insignia-ventures-partners) — Seed, Series A, Series B
- Hong Shan — Series A, Series B
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series B
- Tencent Investment — Series B
- Block, Inc. — Series B