An indonesian platform focused on employment, Pintarnya, has announced a $16.7 million Series A funding round. The company aims to provide financial services alongside job opportunities for both full-time and gig workers.

The funding was spearheaded by Square Peg, with participation from existing investors Vertex Venture Southeast Asia & India and East Ventures.

Founded in 2022 by Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan, Pintarnya seeks to address financial and employment challenges faced by Indonesian workers.

Addressing Financial Needs of Indonesian Workers

“We want to be the first stop when someone is looking for work, a place that helps them upgrade their skills, and a reliable guide as they make financial decisions.”
– Henry Hendrawan

According to Henry Hendrawan, co-founder of Pintarnya, the platform aims to modernize job matching using AI to accelerate hiring processes. “traditionally, mass workers in Indonesia find jobs offline through job fairs or word of mouth, with employers buried in paper applications and candidates rarely hearing back.For borrowing, their options are often limited to family/friend or predatory lenders with harsh collection practices,” said Hendrawan. The company also focuses on providing safer lending options tailored to what workers can afford.

A significant portion of Indonesia’s workforce, approximately 59% of its 150 million workers, are employed in the informal sector. These workers frequently enough face challenges in accessing formal financial services due to a lack of verifiable income and official employment documentation, as highlighted by various studies.

Pintarnya addresses this by partnering with asset-backed lenders to offer secured loans, using assets like gold, electronics, or vehicles as collateral, Hendrawan explained.

Since securing seed funding in 2022, the platform has expanded to serve over 10 million job seekers and 40,000 employers across Indonesia. The company reports a fivefold year-over-year revenue increase and anticipates reaching break-even by the end of the year. Pintarnya primarily serves users aged 21 to 40, many of whom have a high school education or diploma. The startup is focusing on this demographic, given the large number of blue-collar and informal workers in Indonesia.

Future Plans and Expansion

Hendrawan noted that users need more than just job opportunities; they require access to financial services that conventional banks frequently enough cannot provide. “Through the journey of building employment services, we discovered that our users needed more than just jobs – they needed access to financial services that traditional banks couldn’t provide,” Hendrawan stated.

While other job platforms exist in Indonesia, such as JobStreet and Glints, Hendrawan said that Pintarnya is specifically designed for blue-collar workers, offering features like quick-apply options for walk-in interviews, affordable e-learning, and access to financial services.

Hendrawan also pointed out that Indonesia’s fintech sector often caters to white-collar or upper-middle-class consumers, leaving blue-collar workers underserved. Traditional credit scoring models often overlook these workers due to their lack of steady monthly income and bank account activity.

Lending is currently the most in-demand financial service among Pintarnya’s users. Hendrawan mentioned plans to expand into micro-savings and investments through partnerships.

The new funding will be used to enhance the platform’s technology and broaden its financial service offerings through strategic partnerships. The co-founders are also considering regional expansion in the future, leveraging their experience in Southeast Asia.

“Our vision is for Pintarnya to be the everyday companion that empowers Indonesians to not only make ends meet today, but also plan, grow, and upgrade their lives tomorrow,” Hendrawan said. “In five years, we see Pintarnya as the go-to super app for Indonesia’s workers, not just for earning income, but as a trusted partner throughout their life journey. We want to be the first stop when someone is looking for work, a place that helps them upgrade their skills, and a reliable guide as they make financial decisions.”