The Indonesian economy has the largest GDP in the South-East Asian region, estimated to be around US$1,580 billion in 2022. The B2C segment, representing nearly 26.4%, contributes 35.8% of the total eCommerce market size, according to BusinessWire.

Here are the Top 10 B2B startups in Indonesia:

10. Tjetak

  • Founder: Anggara Pranaspati, Hasandi Patriawan and Raffisal Damanhuri
  • Founding Year: 2018 
  • Headquarters: Jakarta Pusat, Jakarta Raya, Indonesia
  • Funding Received: Undisclosed
  • Lead Investor: Vertex Ventures

Tjetak is an end to end B2B packaging platform that helps businesses get the best packaging development and procurement. They help clients fulfil their packaging needs while reducing packaging costs through an advanced pricing engine and better supply chain management.

9. Modalku 

  • Founder: Iwan Kurniawan, Kelvin Teo and Reynold Wijaya
  • Founding Year: 2015 
  • Headquarters: Kebon, Jawa Timur, Indonesia
  • Funding Received: US$ 1.2 million
  • Lead Investor: Triodos Investment Management

Modalku is an online marketplace for small businesses to acquire loans and for lenders to fund small business loans to earn compelling returns. Its technology-based approach enables borrowers to receive loans for the first time or at lower than market rates, while lenders will make returns well above bank deposits, traditional fixed income products, and life insurance investment-linked products. This marketplace lending model is proven in countries such as the USA, UK, China & Singapore.

8. AdaKerja

  • Founder: Ashwin Tiwari and Zbigniew Sobiecki
  • Founding Year: 2017
  • Headquarters: Jakarta, Jakarta Raya, Indonesia
  • Funding Received: US$ 1.5 million
  • Lead Investor: BEENEXT 

AdaKerja aims to be the super app that transforms economies by helping the often ignored blue and grey collar workers earn, grow and protect their income.

7. IndoTrading

  • Founder: Handy Chang
  • Founding Year: 2012
  • Headquarters: Jakarta, Jakarta Raya, Indonesia
  • Funding Received: US$ 1.5 million
  • Lead Investor: Golden Gate and OPT SEA is a company and business directory website, not a buy-and-sell website. This site was established to help market SME products and services online locally and internationally. The startup provides sophisticated marketing services to help business owners compete digitally, such as Search Engine Optimisation, Google AdWords, etc. Besides promoting, it also offers Web Design and Hosting services, to enhance the customer’s business growth. IndoTrading has more than 52.000 companies registered and more than 355.000 products being advertised online.


  • Founder: Mochammad Nasrulyani, Oki Maulana, Risan Awaludin and Slamet Riyanto
  • Founding Year: 2018 
  • Headquarters: Bogor, Jawa Barat, Indonesia
  • Funding Received: US$ 1.51 million
  • Lead Investor: Gayo Capital is an integrated upstream and downstream platform for agriculture and commodities. main business includes consolidation by digitalization for the marketplace and B2B services, logistics and distribution, integrated processing, fintech, and plantation. The company currently operates in 4 main islands in Indonesia.

5. Ayoconnect

  • Founder: Aditya Vora, Chiragh Kirpalani and Jakob Rost
  • Founding Year: 2016
  • Headquarters: Jakarta, Jakarta Raya, Indonesia
  • Funding Received: US$ 10 million
  • Lead Investor: Finch Capital and STRIVE

Ayoconnect is an Indonesian fintech company focusing on building Indonesia’s most powerful financial API platform. As a B2B fintech company, Ayoconnect has processed more than 40 million successful transactions to date, enabling channel partners to offer and monetise bill payments to their customers. On the other hand, bill providers use the network to collect recurring consumer payments faster and cheaper. Ayoconnect operates, maintains and extends the network and provides relevant back-end infrastructure technology for companies.

4. Bizzy

  • Founder: Hermawan Sutanto and Peter Goldsworthy
  • Founding Year: 2015
  • Headquarters: Jakarta, Jakarta Raya, Indonesia
  • Funding Received: US$ 10.5 million
  • Lead Investor: Sinarmas

Bizzy is a B2B marketplace and e-procurement platform. On April 6, 2019, expanded its business in collaboration with Bizzy Logistics and Bizzy Distribution to offer complete supply chain services to all companies in Indonesia under the auspices of the Bizzy Group. They are building an integrated digital platform for logistics and distribution, providing complete supply chain services in Indonesia, to increase efficiency in logistics, distribution and increase growth in all businesses in Indonesia.

3. Ralali

  • Founder: Joseph Aditya, Irwan Suryady
  • Founding Year: 2013
  • Headquarters: Tangerang, Jawa Barat, Indonesia
  • Funding Received: US$ 22.5 million
  • Lead Investor: Jo Hirao, Arbor Ventures, TNB AURA, SBI Group, Digital Garage, Beenos Partners, CyberAgent Capital, and East Ventures

Ralali is an e-commerce company operating a B2B online marketplace for local trade that connects suppliers and buyers. The startup’s platform provides a wholesale marketplace, multi-payment and financial services and more for various product categories such as office supplies, automotive, medical, agriculture, home & building, hotel & restaurant equipment, etc.

2. Investree

  • Founder: Adrian Asharyanto Gunadi, Amir Amiruddin and Kok Chuan Lim
  • Founding Year: 2015
  • Headquarters: Jakarta, Jakarta Raya, Indonesia
  • Funding Received: US$ 24 million
  • Lead Investor: MUFG Innovation Partners, BRI Ventures, SBI Group and Kejora Capital

Investree is Indonesia’s leading B2B marketplace lending platform for SMEs that is fully licensed by the Financial Services Authority of Indonesia (OJK) for both conventional and Shariah businesses. Investree is based in Indonesia but has grown its regional footprint in Thailand and the Philippines.


  • Founder: Deby Ariani
  • Founding Year: 2020
  • Headquarters: Jakarta, Jakarta Raya, Indonesia
  • Funding Received: US$ 25 million
  • Lead Investor: Undisclosed

B2B startup Indonesia River, INDORIVER is a tailored framework of an ecosystem that helps small businesses in Indonesia do faster, more innovative, and more efficient export activity by leveraging new network coordination and data intelligence technologies.

For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.

We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!

Next Article

Previous articleDeep Dive: Snap Inc
Next articleIndian sports brand-Elevar raises US$ 2.6 million in Series A funding



Please enter your comment!
Please enter your name here