Durianpay Platform Raises $2 Million in Funding Led by Surge
Payment solutions platform PT Durian Pay Indonesia (Durianpay) announced a US$2 million funding round, led by Surge from Sequoia Capital India, along with AC Ventures, Kenangan Fund, and other leading angel investors.
Durianpay is a one-stop payment provider in Indonesia that enables businesses to grow and thrive through a one-stop solution for seamless checkout, as well as an easy-to-integrate modern API and dashboard.
Although there has been a significant increase in the volume of e-commerce transactions in the Southeast Asia region in recent years, the payment solutions industry in Indonesia is still fragmented, manual, and not yet optimal.
This often leads to high drop-off rates at checkout, manual verification and reconciliation processes for merchants, and vulnerability to errors and fraud.
Durianpay Collaborates with Several Payment Gateways
Established in 2020 with headquarters in Indonesia and Singapore, Durianpay sees a significant opportunity to launch its services in Indonesia and enable businesses from small to large scale to benefit from an easy-to-operate, fully integrated and fully integrated payment system.
Durianpay as a payment aggregator collaborates with several payment gateways and fund transfer providers in developing solutions needed by various types of businesses such as automatic reconciliation features, instant payment link features, promo features and various other features aimed at optimizing transactions between sellers and buyers.
Through a single integration, Durianpay offers businesses and developers access to a wider range of payment options and a codeless interface, so businesses can create workflows that deploy payment infrastructure automatically.
Checkouts and payments are now fully customizable directly by merchants. With payment solutions offered by the company, businesses have the ability to change their payment infrastructure without requiring any external intervention.
This also includes the ability to connect third-party solutions for fraud detection, Know Your Customer (KYC), CRM or Business Intelligence directly into the system without incurring additional burden on product, finance or technology teams.
Since its launch, Durianpay has been adopted by more than 15 businesses in Indonesia by leveraging innovations such as split payments and multi-branch settlement. This platform offers a one-stop solution for businesses in the country to better manage their payment processes.
“We built our payment products and solutions with both business and developer in mind, with a vision to modernize payments by providing a secure and customizable next-generation product experience.” said one of the founders of Durianpay, Natasha Ardiani in a press release, Thursday (12/8).
Established in September 2020 in Jakarta
The company was founded by Kumar Puspesh Antara Sara Mathai, and Natasha Ardiani in Jakarta, September 2020. Antara has led product teams at leading FinTech and SaaS companies, including Citrus Pay and OnlinePajak.
Puspesh, one of Dpay founder has previously founded a startup called Moonfrog, one of the leading game development companies in India.
And Natasha launched the digital payment business ShopeePay and Shopee PayLater Indonesia and led the loan and collection business at OVO.
This startup is part of Surge’s 5th cohort. There are 23 companies in this event that have developed the latest digital solutions that help companies and individuals to live, work and learn better in the rapidly changing SEA region.
Surge considers that the startup from Indonesia is considered to be able to bring a new perspective on the importance of human welfare, driven by major lifestyle changes as a result of the global Covid-19 pandemic.
Besides Durianpay, an end-to-end payment provider, there is also Rara Delivery, a revolutionary instant delivery for e-commerce brands in Indonesia.
Next up is Bukugaji or Vara, an easy-to-use and lightweight staff management platform for MSMEs across Southeast Asia. These companies bring a new perspective on the importance of human well-being, driven by the major lifestyle changes as a result of the global pandemic.
“Since 2014 with Surge, we are excited to support future Indonesian startups. These companies are helping to digitize and modernize traditional industries,” said Rajan Anandan, Managing Director, Surge & Sequoia India.