Pintek

Pintek operates as a financial technology firm in Indonesia, having commenced its journey in 2018. The company was established by co-founders Ioann Fainsilber and Tommy Yuwono. Yuwono, an alumnus of Prasetiya Mulya Business School, previously co-founded the online payment platform Ayopop, while Fainsilber served as its CFO before they jointly launched Pintek. Their shared experience in digital payments for schools highlighted a gap in the Indonesian market for accessible education financing, a sector they observed was less developed compared to international markets.

Initially, Pintek focused on democratizing access to education through flexible credit solutions. Its services catered to a broad spectrum, from K-12 and higher education to vocational training, by providing installment loans for tuition fees directly to educational institutions on behalf of students. The firm also extended its financial products to educational institutions and their suppliers, offering working capital loans and funding for infrastructure investments to support the adoption of technology in learning. By late 2021, Pintek had disbursed loans impacting over 650,000 students through partnerships with more than 2,750 educational institutions across 29 provinces in Indonesia. However, as of March 2023, the company has pivoted its strategy to concentrate on business financing, particularly for distributors and suppliers, moving beyond a sole focus on the education sector. Its current offerings are centered on supply-chain financing and business loans based on purchase orders or invoices.

Pintek operates as an online marketplace for business loans and is licensed and supervised by Indonesia's Financial Services Authority (OJK). The company generates revenue through the financial services it provides. The business model involves facilitating loans and earning returns from those transactions. Significant funding milestones include an undisclosed pre-series A round in November 2019, a $21 million debt facility from Accial Capital in January 2021, and a $7 million Series A round in November 2021, which brought its total raised capital to over $35 million. Key investors include Global Founders Capital, Finch Capital, Accion Venture Lab, Kaizenvest, and Heritas Capital.

Keywords: Pintek, Ioann Fainsilber, Tommy Yuwono, Indonesia fintech, business financing, supply chain finance, education finance, OJK licensed, SME lending, invoice financing, purchase order financing, working capital loans, Socap Holding, Global Founders Capital, Finch Capital, Accion Venture Lab, Kaizenvest, Heritas Capital, education credit, Indonesian startups