# PT Payfazz Teknologi Nusantara

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pt-payfazz-teknologi-nusantara

- Industry: Financial Services
- Headquarters: Jakarta, Indonesia
- Website: www.payfazz.com
- Total disclosed funding: $161M
- Latest round: Series C (Feb 28, 2023)
- Investors on record: 17

## About

PT Payfazz Teknologi Nusantara is a financial technology company that facilitates digital payments for the unbanked and underbanked populations in Indonesia, enhancing financial inclusion through its mobile platform.Founded in 2016 in Jakarta, Indonesia, PT Payfazz Teknologi Nusantara specializes in digital payment solutions. The company has successfully raised a total of USD 78.67 mn in funding through multiple rounds, with the most recent being Series C funding completed on February 28, 2023. Founders Jefriyanto Jefriyanto and Ricky Winata have guided the company through its growth phases, focusing on expanding its services to underserved communities across Indonesia.Payfazz offers a comprehensive suite of financial technology solutions tailored for Indonesia's unbanked and underbanked population. Their digital payment platform allows users to perform transactions such as money transfers, bill payments, and online purchases seamlessly through a mobile application. This solution addresses common financial challenges and improves accessibility to essential banking services, particularly for individuals and small businesses in both urban and rural settings. Payfazz also empowers local agents to act as intermediaries, enhancing community engagement and financial service delivery.Payfazz generates revenue through a transaction-based model, charging fees for services like money transfers and bill payments. Their business model includes transactions facilitated by local agents, creating a sustainable revenue stream from individual consumers and small businesses. The competitive pricing structure of Payfazz's digital wallet and payment solutions fosters market penetration and customer retention within Indonesia's rapidly growing financial technology landscape.In February 2023, PT Payfazz Teknologi Nusantara raised USD 78.67 mn in Series C funding to support its growth initiatives. The company plans to introduce new products aimed at enhancing user experience and expanding its service offerings. Additionally, Payfazz is strategizing to enter new geographic markets within Southeast Asia to reach more underserved populations, leveraging the recent funding to accelerate these expansion efforts. This growth strategy aims to strengthen its market position and drive increased financial inclusion across the region.

## Funding rounds

- Series C, Feb 28, 2023, $79M — SG Growth Capital, Tiger Global Management, InterVest, Ace Venture Capital, B Capital, Insignia Ventures Partners, MUFG Innovation Partners, Ilham Ltd
- Series B, Jul 6, 2020, $83M — Tiger Global Management, Y Combinator, ACE & Company, Ace Venture Capital, Harvard Management Company, Liquid 2 Ventures, Xfers Pte Ltd., B Capital, Insignia Ventures Partners, Quiet Capital, Gemini Investments, BRI Ventures
- Seed, Sep 1, 2017 — MDI Ventures
- Seed, Jul 1, 2017, $0.1M — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series B
- MDI Ventures (https://capitalatlas.ai/funds/mdi-ventures) — Seed
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B, Series C
- ACE & Company (https://capitalatlas.ai/funds/ace-company) — Series B
- Ace Venture Capital (https://capitalatlas.ai/funds/ace-venture-capital) — Series B, Series C
- Harvard Management Company — Series B
- Liquid 2 Ventures (https://capitalatlas.ai/funds/liquid-2-ventures) — Series B
- Xfers Pte Ltd. — Series B
- B Capital (https://capitalatlas.ai/funds/b-capital) — Series B, Series C
- Insignia Ventures Partners (https://capitalatlas.ai/funds/insignia-ventures-partners) — Series B, Series C
- Quiet Capital (https://capitalatlas.ai/funds/quiet-capital) — Series B
- Gemini Investments — Series B
- BRI Ventures (https://capitalatlas.ai/funds/bri-ventures) — Series B
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series C
- InterVest (https://capitalatlas.ai/funds/intervest) — Series C
- MUFG Innovation Partners (https://capitalatlas.ai/funds/mufg-innovation-partners) — Series C
- Ilham Ltd — Series C