Pintarnya, an Indonesian employment platform that goes past job matching by providing monetary providers together with full-time and side-gig alternatives, mentioned it has raised a $16.7 million Collection A spherical.
The funding was led by Sq. Peg with participation from current buyers Vertex Enterprise Southeast Asia & India and East Ventures.
Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan based Pintarnya in 2022 to deal with two of the most important challenges Indonesians face each day: incomes sufficient and borrowing responsibly.
“Historically, mass employees in Indonesia discover jobs offline by means of job festivals or phrase of mouth, with employers buried in paper purposes and candidates hardly ever listening to again. For borrowing, their choices are sometimes restricted to household/good friend or predatory lenders with harsh assortment practices,” Henry Hendrawan, co-founder of Pintarnya, advised TechCrunch. “We digitize job matching with AI to make hiring sooner and we offer employees with safer, more healthy lending choices — designed round what they’ll fairly afford, slightly than pushing them deeper into debt.”
Round 59% of Indonesia’s 150 million workforce is employed within the casual sector, highlighting the difficulties these employees encounter in accessing formal monetary providers as a result of they lack verifiable revenue and official employment documentation.
Pintarnya tackles this problem by partnering with asset-backed lenders to supply secured loans, utilizing collateral equivalent to gold, electronics, or automobiles, Hendrawan added.
Since its seed funding in 2022, the platform at present serves over 10 million job seeker customers and 40,000 employers nationwide. Its income has elevated nearly fivefold year-over-year and expects to achieve break-even by the top of the yr, Hendrawn famous. Pintarnya primarily serves customers aged 21 to 40, most of whom have a highschool schooling or a diploma under college degree. The startup goals to deal with this underserved phase, given the massive inhabitants of blue-collar and casual employees in Indonesia.
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“Via the journey of constructing employment providers, we found that our customers wanted extra than simply jobs — they wanted entry to monetary providers that conventional banks couldn’t present,” mentioned Hendrawan. “We digitize job matching with AI to make hiring sooner and we offer employees with safer, more healthy lending choices — designed round what they’ll fairly afford, slightly than pushing them deeper into debt.”
picture credit: Pintarnya (Founders of Pintarnya Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan)
Whereas Indonesia already has job platforms like JobStreet, Kalibrr, and Glints, these primarily cater to white-collar roles, which symbolize solely a small portion of the workforce, in keeping with Hendrawan. Pintarnya’s platform is designed particularly for blue-collar employees, providing tailor-made experiences equivalent to quick-apply choices for walk-in interviews, inexpensive e-learning on related expertise, in-app alternatives for supplemental revenue, and seamless connections to monetary providers like loans.
The identical development is clear in Indonesia’s fintech sector, which equally caters to white-collar or upper-middle-class customers. Typical credit score scoring fashions for loans, which depend on regular month-to-month revenue and checking account exercise, usually go away blue-collar employees ignored by current fintech suppliers, Hendrawan defined.
When requested about which fintech providers are most in demand, Hendrawan talked about, “Given their employment standing, lending is essentially the most in-demand monetary service for Pintarnya’s customers right this moment. We’re planning to ‘graduate’ them to micro-savings and investments down the highway by means of modern merchandise with our companions.”
The brand new funding will allow Pintarnya to strengthen its platform expertise and broaden its monetary service choices by means of strategic partnerships. With most Indonesian employees employed in blue-collar and casual sectors, the co-founders see substantial progress alternatives within the native market. Leveraging their intensive expertise in managing companies throughout Southeast Asia, they’re additionally open to exploring regional growth when the timing is correct.
“Our imaginative and prescient is for Pintarnya to be the on a regular basis companion that empowers Indonesians to not solely make ends meet right this moment, but additionally plan, develop, and improve their lives tomorrow … In 5 years, we see Pintarnya because the go-to tremendous app for Indonesia’s employees, not only for incomes revenue, however as a trusted associate all through their life journey,” Hendrawan mentioned. “We need to be the primary cease when somebody is searching for work, a spot that helps them improve their expertise, and a dependable information as they make monetary selections.”
