Pintarnya raises $16.7M to power jobs and financial services in Indonesia

Pintarnya, a pioneering employment platform in Indonesia, has successfully raised $16.7 million in its Series A funding round. This financing was led by Square Peg, with participation from existing investors including Vertex Venture Southeast Asia & India and East Ventures. Founded in 2022 by Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan, Pintarnya aims to address critical challenges faced by Indonesians, such as securing stable employment and accessing responsible borrowing options. In Indonesia, many workers traditionally seek jobs through offline methods like job fairs or personal networks, resulting in a cumbersome application process for employers and candidates alike. Additionally, borrowing options are often limited to family or predatory lenders, leading to financial distress. Hendrawan explained that Pintarnya leverages AI for efficient job matching, making hiring processes faster, while also providing safer lending solutions tailored to the financial realities of workers. With approximately 59% of Indonesia's 150 million workforce operating within the informal sector, accessing formal financial services can be daunting due to the lack of verifiable income and official employment records. To overcome this, Pintarnya collaborates with asset-backed lenders to offer secured loans, using collateral such as gold, electronics, or vehicles. Since its initial funding in 2022, Pintarnya has grown to support over 10 million job seekers and 40,000 employers across the country. The company’s revenue has surged nearly fivefold year-over-year, with expectations to break even by the end of this year. Pintarnya primarily targets users aged 21 to 40, many of whom possess only a high school diploma or lower, focusing on the vast population of blue-collar and informal workers in Indonesia. Hendrawan noted that while other job platforms like JobStreet and Kalibrr serve primarily white-collar positions, Pintarnya is dedicated to the blue-collar demographic, offering features such as quick application processes for walk-in interviews, affordable e-learning resources, and integrated access to financial services. The fintech landscape in Indonesia also reflects a similar trend, often overlooking blue-collar workers due to conventional credit scoring methods that rely on steady incomes. When discussing the financial needs of Pintarnya's users, Hendrawan highlighted the pressing demand for lending services, stating their future plans to introduce micro-savings and investment products in collaboration with partners. The recent funding will bolster Pintarnya's technological capabilities and expand its range of financial services. Recognizing the significant market potential due to the prevalence of blue-collar and informal workers in Indonesia, the founders are also considering regional expansion in the future. Hendrawan envisions Pintarnya as an essential tool for Indonesians, not only to meet their current financial needs but also to assist them in planning and enhancing their lives in the long run. He stated, "In five years, we aim to establish Pintarnya as the go-to super app for Indonesia’s workforce, supporting them in job searches, skills development, and informed financial decision-making."