▼ Summary
– Pintarnya, an Indonesian employment platform offering job matching and financial services, has raised $16.7 million in a Series A round led by Square Peg.
– The platform was founded in 2022 to address challenges Indonesians face in earning income and accessing responsible borrowing options.
– It uses AI to digitize job matching and partners with asset-backed lenders to provide secured loans using collateral like gold or electronics.
– Pintarnya primarily serves blue-collar and informal workers, who make up 59% of Indonesia’s workforce and are often overlooked by traditional financial services.
– The startup currently has over 10 million job seeker users and 40,000 employers, with revenue growing nearly fivefold year-over-year.
Pintarnya, an Indonesian platform that connects job seekers with employment and financial solutions, has successfully secured $16.7 million in Series A funding. This investment round was spearheaded by Square Peg, with continued support from existing backers Vertex Venture Southeast Asia & India and East Ventures. Launched in 2022 by Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan, Pintarnya aims to address two widespread issues in Indonesia: stable income generation and access to fair credit.
Many workers across Indonesia still rely on informal job searches through fairs or personal referrals, a process that often leaves applicants waiting indefinitely. When it comes to borrowing, options are frequently limited to family support or high-risk lenders. Pintarnya introduces a digital approach, using AI-powered job matching to streamline hiring and offering secured loans through partnerships with asset-backed lenders. These loans use collateral like gold, electronics, or vehicles, making them more accessible to those without formal income documentation.
Indonesia’s workforce includes approximately 150 million people, with nearly 59% engaged in the informal sector. This vast segment often struggles to qualify for traditional banking services due to irregular income and a lack of official employment records. Pintarnya focuses specifically on this underserved group, primarily serving users between 21 and 40 years old who have a high school education or vocational diploma.
Since its initial seed funding in 2022, the platform has grown significantly. It now supports over 10 million job seekers and 40,000 employers nationwide. Revenue has increased nearly fivefold year-over-year, and the company anticipates reaching break-even by the end of the year. Unlike competing platforms that mainly serve white-collar professionals, Pintarnya is designed for blue-collar and informal workers, offering features like quick-apply options, affordable skill-building courses, and integrated financial products.
The demand for lending services is particularly high among users, given their employment circumstances. Looking ahead, Pintarnya plans to introduce micro-savings and investment products in collaboration with partners, helping users build longer-term financial stability.
The newly acquired funds will be used to enhance platform technology and expand financial service offerings through strategic alliances. While the immediate focus remains on deepening its impact in Indonesia, the founders, drawing on their extensive regional experience, are also considering future expansion into other Southeast Asian markets.
Pintarnya’s vision is to become an everyday companion for Indonesian workers, supporting not only their immediate employment and borrowing needs but also their broader journey toward skill development and financial growth. The goal is to establish Pintarnya as a trusted super app that helps users navigate work opportunities and make sound financial decisions throughout their lives.
(Source: TechCrunch)
