Indonesia Embedded Finance Markets and Investment Opportunities Report 2022: Market is Expected to Grow by 44.6% to Reach $1,821.1 million in 2022 – Forecasts to 2029 –

DUBLIN–()–The “Indonesia Embedded Finance Business and Investment Opportunities Databook – 50+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments – Q1 2022 Update” report has been added to’s offering.

Indonesia’s Embedded Finance industry is expected to grow by 44.6% on annual basis to reach US$1,821.1 million in 2022.

The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 28.8% during 2022-2029. The embedded finance revenues in the country will increase from US$1,821.1 million in 2022 to reach US$7,402.1 million by 2029.

The Indonesian embedded insurance industry posted significant growth over the last few quarters, and the publisher expects the market to record strong growth over the next four to eight quarters. The market growth is expected to be driven primarily by product innovation and rising partnerships.

Additionally, amid the growing demand for insurance services in the country, insurtech start-ups are raising funds to enhance their services and platform to meet the increasing demand.

  • In September 2020, insurtech start-up PasarPolis announced that the firm had raised US$54 million in its Series B funding round from investors, including LeapFrog and SBI Investments. Notably, the firm is planning to use the funding round to enhance and further develop its AI-based claims automation platform, allowing it to customize insurance products for different industries.

In Indonesia, insurtech firms are entering into strategic partnerships with e-commerce platforms to expand their reach.

  • Qoala, the insurtech firm that offers micro-insurance policies, has entered into strategic alliances with various online-only platforms such as Shopee, Tokopedia, JD.ID, and Grabkios. In addition to these e-commerce platforms, the firm has also entered into strategic partnerships with travel booking firms such as RedBus and PegiPegi.

Consequently, the publisher projects a growing number of collaborations over the next four to eight quarters, as insurers are planning to expand their distribution channels to gain a larger market share in the Indonesian embedded insurance market.

The Indonesian embedded lending industry posted growth over the last few quarters and is expected to continue its upward momentum over the next four to eight quarters. This growth is expected to be driven mainly by the considerable growth of the fintech industry in the country.

Fintech start-ups have challenged traditional banks by bringing modern technologies, customer-centric services, and flexible technologies to the niche segments of financial services. Growing fund-raising activities are expected to accelerate the market growth further.

  • In June 2021, the United States-based credit and payments platform Fairbanc, raised an undisclosed investment in a pre-Series A from ADB Ventures, the Asian Development Bank’s venture arm Accion Venture Lab, East Ventures, Michael Sampoerna Group, and others. The fund raised by the company will be utilized to expand its reach in the Indonesian market.

Indonesia has always been ripe for innovative payment methods. Due to geographical and infrastructural barriers, more than half of the country’s population does not access banking services. Due to this vast unbanked population, the demand for embedded payments is growing. The market growth is further fueled by massive growth in the country’s e-commerce industry. Furthermore, embedded payment options serve as an effective tool to bring financial inclusion to the country’s unbanked population.

According to the publisher analysis, the transaction value of electronic money was increased from nearly US$10 billion in 2019 to more than US$13 billion in 2020. Notably, the retail and transportation industries dominated electronic transactions by capturing 28.2% and 26.7% share of the total electronic transactions. The data signifies a considerable opportunity for embedded payment providers in the retail and transportation industries.

Local fintech companies are currently dominating the Indonesian embedded payments market. The companies are looking forward to innovating newer payment methods and increasing their revenue streams to create a more significant economic impact.

This report provides a detailed data centric analysis of market opportunity across 50+ segments in embedded finance industry covering lending, insurance, payment, and wealth sectors.


Indonesia Embedded Finance Market Size and Forecast

Indonesia Embedded Lending Market Size and Forecast

Embedded Lending by Consumer Segments, 2020 – 2029

  • Business Lending
  • Retail Lending

Embedded Lending by B2B Sectors, 2020 – 2029

  • Embedded Lending in Retail & Consumer Goods
  • Embedded Lending in IT & Software Services
  • Embedded Lending in Media, Entertainment & Leisure
  • Embedded Lending in Manufacturing & Distribution
  • Embedded Lending in Real Estate
  • Embedded Lending in Other

Embedded Lending by B2C Sectors, 2020 – 2029

  • Embedded Lending in Retail Shopping
  • Embedded Lending in Home Improvement
  • Embedded Lending in Leisure & Entertainment
  • Embedded Lending in Healthcare and Wellness
  • Embedded Lending in Other

Indonesia Embedded Insurance Market Size and Forecast

Embedded Insurance by Industry, 2020 – 2029

  • Embedded Insurance in Consumer Products
  • Embedded Insurance in Travel & Hospitality
  • Embedded Insurance in Automotive
  • Embedded Insurance in Healthcare
  • Embedded Insurance in Real Estate
  • Embedded Insurance in Transport & Logistics
  • Embedded Insurance in Others

Embedded Insurance by Insurance Type, 2020 – 2029

  • Embedded Insurance in Life Segment
  • Embedded Insurance in Non-Life Segment

Embedded Insurance by Type of Offering, 2020 – 2029

  • Embedded Insurance in Product Segment
  • Embedded Insurance in Service Segment

Indonesia Embedded Payment Market Size and Forecast

Embedded Payment by Consumer Segments, 2020 – 2029

Embedded Payment by End-Use Sector, 2020 – 2029

  • Embedded Payment in Retail & Consumer Goods
  • Embedded Payment in Digital Products & Services
  • Embedded Payment in Utility Bill Payment
  • Embedded Payment in Travel & Hospitality
  • Embedded Payment in Leisure & Entertainment
  • Embedded Payment in Health & Wellness
  • Embedded Payment in Office Supplies & Equipment
  • Embedded Payment in Other

Indonesia Embedded Wealth Management Market Size and Forecast

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