KinerjaPay Corp (fka KPAY)

[John23V]

PT KSG P2P vs Competition

There are officially 13 licensed p2p lenders in Indonesia. Danamas, Investree, Amartha, Dompet Kilat, KIMO, Toko Modal, and UangTeman
got their license in August. Modalku (the Indonesian arm of Funding Societies), KTA Kilat (Pendanaan), Kredit Pintar, Maucash, Finmas (Sinarmas and Oriente-backed fintech firm) and KlikACC got their license in October.

There are 127 registered with no license yet. Seems to take about 2 years in the OJK sandbox. This is where PT KSG will be.

https://www.afpi.or.id/listfintech : this is a link to the AFPI page with all the registered and licensed p2p companies. They do a good job of updating it. Last update was 11-15.

Lets look at the funding it took to get some of the bigger companies off the ground.

1. Koinworks - 2 rounds of funding. $16.5 mil & $12 mil. Got registered on 5-4-17. Still not licensed.

Here is a good article on Koinworks: https://www.techinasia.com/indonesian-p2p-lender-koinworks-profitable-disbursed-140m-loans

That's right Koinworks isn't profitable yet, but they are considered to be one of the best. Everyone loves to bitch about KPAY. Here is your "big dog" that can't turn a profit on $140 mil in loans. This is who were supposed to be worried about?

2. Investree - Seed money $500,000. Series A funding $2-5 mil. Series B funding $10 mil. One of the first to receive its license.

"The company upgraded its mobile applications for both borrowers and lenders digitally to streamline its processes, as well as for Shariah compliant products and mobile apps. As a result, it achieved a total net revenue of $112,000 in 2016, with an estimated market share of 60%. About 95% of Investree’s loans were extended to small and medium enterprises (SMEs) for working capital purposes."

So "the great" Investree was turning revenue of $112,000 just 3 years ago? But hey, I'm sure people were bagging on them at that point too. What are they worth now?

3. Akseleran - Seed money $1.8 mil. Series A $8.5 mil. Still registered.

2018 the plan was to lend out $13.4 mil. Most sites will list their 2018 revenue around $3 mil. Their so great they wont publish their actual revenue. They say they have 20,000 lenders, so with that math 20,000 divided by 13.4 mil, each lender lent out $670. Is that good?


The list goes on and on. Maybe Kpay gets some money, maybe they don't. But if they get even a little, do these 3 companies look hard to compete with?