What do tech unicorns eFishery, Carsome and Evermos have in common? They are among the companies that rely on Durianpay as their payment solutions provider in Indonesia. Founded in 2020, the AC Ventures-backed startup’s mercurial rise continued with the announcement that it has recorded 5x growth in annualized total processing value since 2022.
In other words, more people are using Durianpay to make payments. It also means more businesses in Indonesia are trusting the firm to handle their transactions. A major reason for that is its broader range of payment options and a no-code interface that creates workflows to automate a merchant’s payment infrastructure. This has solved a key pain point for numerous companies.
“The companies we work with often deal with hundreds and thousands of daily transactions and many large invoices simultaneously. To make matters more complicated, a great number of these invoices need to be paid by customers incrementally. In the past, this kind of high-touch tracking, matching, and organization work would mean increasing an in-house finance team’s headcount,” Durianpay Co-Founder and COO Natasha Ardiani, reports.
She continues, “With Durianpay’s latest enterprise-centric product, businesses can now instantly match specific inbound transactions with their corresponding invoices, allow for incremental payments by the customer, understand precisely how much is still owed on each invoice, and more.”
Durianpay holds a payments license issued by the Bank of Indonesia and is registered as an aggregator with the Financial Services Authority (OJK). It is currently the only payment service provider in the market that has connections with the country’s top ten banks and top five e-wallets.
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The story behind Durianpay
Durianpay’s success is largely due to its commitment to developing and enhancing the platform’s payment infrastructure. That being said, none of this would be possible without the vision and experience of its three Co-Founders.
Natasha brought experience in the digital payments realm having started Shopee Indonesia’s digital payment and PayLater business units. Meanwhile, Co-founder Antara Sara Mathai led product teams at renowned fintech and SaaS companies, such as Citrus Pay and OnlinePajak, while Co-Founder Kumar Puspesh started Moonfrog, a premier game development company in India, backed by Sequoia Capital.
“We are creating a system that makes the flow of money between businesses easier by digitizing, automating, and streamlining processes like purchase orders, invoices, payment collection, invoice tracking, and reconciliation,” Antara stated. “Before building these solutions, Durianpay held discussions with a variety of B2B players in Indonesia, both traditional and modern, and built a business payment system over their existing solutions.”
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What’s next?
Next up for Durianpay is expansion. The company has already announced that it will build up its product, tech, operations, finance and business development teams in expectation of future growth. Additionally, it intends to increase its vertical-specific solutions having identified untapped potential in the B2B payments sector.
“We envision becoming a full-stack B2B-focused payments and financing layer that digitizes, automates, and eases capital movement across the supply chain,” Antara stated.
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