Mandiri Capital Indonesia

Mandiri Capital Indonesia (MCI) is the corporate venture capital arm of Bank Mandiri, the largest integrated financial services group in Indonesia. Established in 2015 and based in Jakarta, MCI focuses on investing in startups primarily within the fintech sector across Southeast Asia. The firm plays a strategic role in fostering partnerships between its portfolio companies and the extensive network of Bank Mandiri's subsidiaries and business units. With a strong emphasis on agility and collaboration, MCI aims to support startups in their growth journeys and position them as potential global players in the financial services industry.

Dennis Pratisha

Chief Investment Officer

Past deals in Indonesia

Kecilin.id

Venture Round in 2023
Kecilin is Indonesia's first and only data compression technology provider with AI that transforms business opportunities. We make it possible for every business to experience small-is-better solutions for everyday business needs. Data has become an essential part of today's businesses. This trend is driving businesses to spend more on internet, storage and its peripherals. As a SaaS company, Kecilin has developed solutions to address these challenges. By harnessing the power of Artificial Intelligence (AI), Kecilin has tools that enable businesses to optimize their processes, IT spending and unlock new opportunities. In turn, businesses will be able to do more with less. Kecilin's mission is to use AI to transform the way businesses operate and manage their IT resources, delivering efficiency, agility and innovation. In addition, businesses will be able to streamline their operations and IT costs, creating value and competitive advantage with the help of Kecilin's technology.

iSeller

Series B in 2023
iSeller, founded in 2016 by Jimmy Petrus in Jakarta Raya, Indonesia, is a business tool and management platform designed to support small and medium-sized enterprises (SMEs) in their digital transformation. The company, established by Intersoft Solutions, aims to empower millions of Indonesian SMEs by providing them with access to innovative technology and digital tools. iSeller offers a range of services, including e-commerce platforms and integration services, enabling businesses to develop applications efficiently across web, desktop, and mobile environments. By focusing on enhancing productivity and facilitating growth, iSeller seeks to help SMEs thrive in the digital era, allowing them to expand their operations with greater ease and efficiency.

Mekari

Series E in 2022
Mekari is a software-as-a-service (SaaS) company based in Jakarta, Indonesia, specializing in cloud-based business automation technology. Founded in 2015, Mekari provides a suite of solutions designed for business-to-business (B2B) applications, catering to a diverse clientele that includes multinational corporations as well as micro, small, and medium enterprises (MSMEs). The company's software facilitates the digitization and automation of various operational processes, allowing businesses to manage critical areas such as human resources, finance, and taxation while ensuring compliance with relevant regulations. By streamlining administrative tasks, Mekari enables organizations to concentrate on more strategic initiatives, enhancing overall operational efficiency.

Qoala

Series B in 2022
Qoala is an InsureTech company based in Jakarta Selatan, Indonesia, founded in 2018. The company specializes in providing online insurance services that cover flight and train delays, phone screen damages, and e-commerce logistics. By utilizing big data, machine learning, IoT, and blockchain technology, Qoala aims to transform the insurance industry in Indonesia. It collaborates with major e-commerce and travel platforms to offer unique and innovative insurance products, thereby enhancing the customer experience.

Cakap

Venture Round in 2022
Cakap is an Indonesian EdTech company that offers an online learning platform focused on language acquisition and skill development. The platform connects students with professional teachers and industry experts, facilitating interactive and engaging learning experiences. By utilizing live interactions with native instructors and multimedia content, Cakap enhances conversational skills and promotes effective language learning. The platform is accessible through various devices, including mobile apps and desktop, catering to a wide range of users. Cakap is dedicated to providing high-quality education through an internationally recognized curriculum, ensuring that learners can conveniently study from home or their workplace.

DELOS

Seed Round in 2022
DELOS is a science-driven aqua-tech company that designs and operates aquafarms seeking to disrupt the traditional and fragmented aquaculture industry in Indonesia. The Company aims to jumpstart what it calls the “Blue Revolution”. The vision is to help progress Indonesia into an international aquaculture-based seafood production powerhouse within the next decade. The revolution will be a radical shift to drive the growth and modernization of the ~US$ 2.5 billion Indonesian aquaculture industry and further its integration into the global seafood supply chain. DELOS has successfully launched its farming-as-a-service product, AquaHero, a full-stack farm productivity system that combines scientific expertise, technology, and operational excellence to boost farm productivity and profitability. AquaHero utilizes top-class data collection methods and a cutting-edge biological model to predict and mitigate harvest risk, a model that will be trained on hundreds of shrimp ponds within the DELOS ecosystem across Indonesia. DELOS has also launched AquaLink, a harvesting and logistics platform that allows it to capture and provide sustainable and traceable seafood supply downstream in the value chain. The company is currently responsible for producing and distributing thousands of tons of shrimp annually, and has taken steps to integrate its supply into the US$ 300 billion global seafood market. DELOS aims to ensure the traceability and sustainability of its supply chain to streamline global integration. The company has, thereby, embedded sustainable practices into its operations, and will allow stakeholders visibility into its supply chain through its AquaHero and AquaLink platforms.

PrivyID

Series B in 2021
PrivyID is a universal identity enabler and digital signature provider headquartered in Jakarta, Indonesia. Since we were first established in 2016, our services have been trusted by over 205 companies and 4.5 million of individual users across Indonesia. PrivyID has the vision to be the global leader in electronic identification and authorization. Enabling humans, organizations, and machines to communicate seamlessly while safeguarding authenticity, confidentiality, integrity, access control, and non-repudiation.

GoTo Group

Funding Round in 2021
GoTo Group is an application used for ride-hailing, food delivery, and other services. GoTo Group is driving progress by providing technology infrastructure and solutions that enable everyone to participate in and thrive in the digital economy.

iSeller

Series B in 2021
iSeller, founded in 2016 by Jimmy Petrus in Jakarta Raya, Indonesia, is a business tool and management platform designed to support small and medium-sized enterprises (SMEs) in their digital transformation. The company, established by Intersoft Solutions, aims to empower millions of Indonesian SMEs by providing them with access to innovative technology and digital tools. iSeller offers a range of services, including e-commerce platforms and integration services, enabling businesses to develop applications efficiently across web, desktop, and mobile environments. By focusing on enhancing productivity and facilitating growth, iSeller seeks to help SMEs thrive in the digital era, allowing them to expand their operations with greater ease and efficiency.

Bukalapak

Venture Round in 2021
Bukalapak is an Indonesian e-commerce platform founded in 2010 and headquartered in Jakarta Raya. It operates a shopping portal that offers a diverse array of consumer products, including electronics, cosmetics, and apparel. The platform provides customers with easy returns and a variety of flexible payment options, such as cash on delivery, credit or debit card transactions, and net banking. By enabling consumers to access a wide range of commercial and personal products, Bukalapak aims to enhance the online shopping experience in Indonesia.

LinkAja

Series B in 2020
LinkAja is a mobile payment platform that simplifies financial transactions for users in Indonesia. By offering an integrated e-wallet service, LinkAja aims to address essential consumer needs, such as payments for data, electricity tokens, gas station services, and public transportation. The platform collaborates with various state-owned enterprises to enhance accessibility and promote financial inclusion. LinkAja's focus on facilitating seamless online transactions supports the national initiative to shift towards a cashless economy, making everyday financial activities more convenient for its users.

iSeller

Series A in 2020
iSeller, founded in 2016 by Jimmy Petrus in Jakarta Raya, Indonesia, is a business tool and management platform designed to support small and medium-sized enterprises (SMEs) in their digital transformation. The company, established by Intersoft Solutions, aims to empower millions of Indonesian SMEs by providing them with access to innovative technology and digital tools. iSeller offers a range of services, including e-commerce platforms and integration services, enabling businesses to develop applications efficiently across web, desktop, and mobile environments. By focusing on enhancing productivity and facilitating growth, iSeller seeks to help SMEs thrive in the digital era, allowing them to expand their operations with greater ease and efficiency.

PrivyID

Series A in 2020
PrivyID is a universal identity enabler and digital signature provider headquartered in Jakarta, Indonesia. Since we were first established in 2016, our services have been trusted by over 205 companies and 4.5 million of individual users across Indonesia. PrivyID has the vision to be the global leader in electronic identification and authorization. Enabling humans, organizations, and machines to communicate seamlessly while safeguarding authenticity, confidentiality, integrity, access control, and non-repudiation.

Mekari

Series C in 2019
Mekari is a software-as-a-service (SaaS) company based in Jakarta, Indonesia, specializing in cloud-based business automation technology. Founded in 2015, Mekari provides a suite of solutions designed for business-to-business (B2B) applications, catering to a diverse clientele that includes multinational corporations as well as micro, small, and medium enterprises (MSMEs). The company's software facilitates the digitization and automation of various operational processes, allowing businesses to manage critical areas such as human resources, finance, and taxation while ensuring compliance with relevant regulations. By streamlining administrative tasks, Mekari enables organizations to concentrate on more strategic initiatives, enhancing overall operational efficiency.

Crowde

Seed Round in 2019
CROWDE is a technology and financial company focused on agriculture, aiming to support over 30 million Indonesian farmers by providing essential business infrastructure. The company operates a peer-to-peer lending and crowdfunding platform that connects farmers with retail investors, enabling them to raise capital for their farming operations. CROWDE offers access to financing, cost-effective agricultural inputs, and data-driven market insights, while also facilitating efficient logistics for fresh produce and developing markets for farmers' products. By integrating various components of the agricultural ecosystem—from suppliers to customers—CROWDE enhances the overall efficiency and sustainability of agriculture in Indonesia. The company's mission is driven by a commitment to empower both farmers and investors, fostering a collaborative environment for agricultural growth and innovation.

Crowde

Series A in 2019
CROWDE is a technology and financial company focused on agriculture, aiming to support over 30 million Indonesian farmers by providing essential business infrastructure. The company operates a peer-to-peer lending and crowdfunding platform that connects farmers with retail investors, enabling them to raise capital for their farming operations. CROWDE offers access to financing, cost-effective agricultural inputs, and data-driven market insights, while also facilitating efficient logistics for fresh produce and developing markets for farmers' products. By integrating various components of the agricultural ecosystem—from suppliers to customers—CROWDE enhances the overall efficiency and sustainability of agriculture in Indonesia. The company's mission is driven by a commitment to empower both farmers and investors, fostering a collaborative environment for agricultural growth and innovation.

KoinWorks

Series B in 2019
KoinWorks is a prominent financial technology company in Indonesia, recognized for its innovative approach in the financial sector, having won the Asian Banker Financial Innovation Award in 2019 for the Lending Category. The company operates a peer-to-peer lending platform that facilitates connections between investors and borrowers, offering a range of financial products that include loans for business, health, and education at competitive interest rates. This platform allows users to manage both their assets and liabilities in a single, accessible environment, making financial solutions more affordable and available to a wider audience. KoinWorks represents a significant evolution in financial services, striving to enhance financial inclusion across Indonesia.

Mekari

Series B in 2018
Mekari is a software-as-a-service (SaaS) company based in Jakarta, Indonesia, specializing in cloud-based business automation technology. Founded in 2015, Mekari provides a suite of solutions designed for business-to-business (B2B) applications, catering to a diverse clientele that includes multinational corporations as well as micro, small, and medium enterprises (MSMEs). The company's software facilitates the digitization and automation of various operational processes, allowing businesses to manage critical areas such as human resources, finance, and taxation while ensuring compliance with relevant regulations. By streamlining administrative tasks, Mekari enables organizations to concentrate on more strategic initiatives, enhancing overall operational efficiency.

KoinWorks

Series A in 2018
KoinWorks is a prominent financial technology company in Indonesia, recognized for its innovative approach in the financial sector, having won the Asian Banker Financial Innovation Award in 2019 for the Lending Category. The company operates a peer-to-peer lending platform that facilitates connections between investors and borrowers, offering a range of financial products that include loans for business, health, and education at competitive interest rates. This platform allows users to manage both their assets and liabilities in a single, accessible environment, making financial solutions more affordable and available to a wider audience. KoinWorks represents a significant evolution in financial services, striving to enhance financial inclusion across Indonesia.

Investree

Series B in 2018
Investree is a licensed B2B marketplace lending platform based in Indonesia, catering specifically to small and medium-sized enterprises (SMEs). Established in October 2015, the company has expanded its operations to Thailand and plans to enter the Philippines. Investree's mission is to leverage technology and data to connect SMEs with retail and institutional lenders, providing them with essential working capital solutions. The platform employs a B2B acquisition model, forming strategic partnerships with e-procurement platforms and payment gateway providers to enhance borrower verification and reduce acquisition costs. With a team of 175 professionals, Investree has facilitated over USD 230 million in funding for more than 1,000 SMEs, maintaining high asset quality. By streamlining the lending process, Investree aims to improve financial access for SMEs while ensuring a better deal for both borrowers and investors.

Cashlez

Seed Round in 2017
Cashlez is a fintech company based in Jakarta, Indonesia, founded in 2015. It specializes in providing payment technology solutions to merchants, primarily through its mobile point of sale (mPOS) system. This system enables businesses to accept payments via credit and debit cards using smartphones connected to a Bluetooth card reader, allowing for real-time monitoring of sales transactions. In addition to mPOS, Cashlez offers support for other digital payment methods, including QR code payments and Cashlez Link. The company operates across three business segments: device sales, payment services, and installation services, all aimed at helping merchants efficiently manage and grow their businesses.

PrivyID

Seed Round in 2017
PrivyID is a universal identity enabler and digital signature provider headquartered in Jakarta, Indonesia. Since we were first established in 2016, our services have been trusted by over 205 companies and 4.5 million of individual users across Indonesia. PrivyID has the vision to be the global leader in electronic identification and authorization. Enabling humans, organizations, and machines to communicate seamlessly while safeguarding authenticity, confidentiality, integrity, access control, and non-repudiation.

Jurnal.id

Series B in 2016
Journals provide online accounting software that is secure and reliable for small and medium enterprises in Indonesia . They strive to give entrepreneurs the freedom of the complexity of administration , operation , and taxation in order to focus on doing the most important thing to grow their business . This will be achieved by creating an effective technology that is extremely easy to use. Journals available sebagaai services that can be accessed from anywhere with a connection via internet or WiFi . By Journal , no longer need to download or install anything on your computer. There is no cost to start or upgrade , get free updates automatically, and does not need a contract . You just need to register , log in , and start working on your business bookkeeping anytime, anywhere . Journals businesses run better wear as much to save time in the process of administration and operations .
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