UangMe

About UangMe

PT UangMe Fintek Indonesia, operating under the brand name UangMe, is a key player in Indonesia's burgeoning financial technology landscape. The company was established in 2018 by founders including Johnny Li and Scarlett Xiao. UangMe is a brand under its parent company, SuperAtom, a Singapore-based fintech firm also founded by Xiao and Li in 2018 as a startup incubated and spun off from Cheetah Mobile.

The firm's primary business revolves around peer-to-peer (P2P) lending, providing unsecured, collateral-free online loans to Indonesian consumers. It targets the underbanked and unbanked populations, a significant market segment in Indonesia, aiming to enhance financial inclusion through accessible credit. The business model operates through a mobile application available on Android devices, which facilitates a completely online process from registration to fund disbursement. UangMe generates revenue from the interest and service fees charged on the loans it facilitates. The platform connects individual borrowers with lenders (both retail and institutional), earning on the spread and service charges. Its model also involves sourcing lower-cost funds from more mature international markets to deploy in Southeast Asia.

UangMe offers personal cash loans ranging from IDR 400,000 to IDR 30,000,000, with flexible tenures of 3 to 6 months. A key feature is its rapid processing time, leveraging artificial intelligence for credit scoring and assessment, which allows for application approvals in as little as one minute. In addition to personal loans, the company introduced a Buy Now, Pay Later (BNPL) service, expanding its product suite and enabling partnerships with merchants, such as McDonald's in Indonesia. The platform also provides an avenue for investors through the "UangMe Lender" application, where they can fund loans and earn returns.

Since its inception, UangMe has achieved significant milestones. It secured its operational license from Indonesia's Financial Services Authority (OJK) in July 2018, a critical step for regulatory compliance and building trust. The company has successfully raised substantial funding, including a $24 million round in September 2019 led by Gobi Partners and Cheetah Mobile, and another financing round of IDR 125 billion from Bank Neo Commerce in October 2023. In 2020, UangMe was recognized as one of the top 50 companies in the Inclusive Fintech 50, an acknowledgment of its work in promoting financial inclusion.