In brief: Indonesia’s Sepulsa rebrands to Alterra, sets sights beyond fintech

Sepulsa, one of Indonesia’s early players in online bill payments, is transforming into Alterra to provide more services and serve a bigger segment of Indonesia’s population. The end goal is to build Indonesia’s digital infrastructure leveraging on Alterra’s ecosystem.

Sepulsa started in 2015 with the initial business of selling pulsa (mobile phone credits) through its website and app. The company has since evolved and operates several other business lines, including a B2B bill payments aggregator and a distribution network that lets SMEs and individuals sell digital products.

It also provides payment services for electricity, water utility, game vouchers, installments, and multifinances.

Source: Press release

According to the company, Sepulsa is licensed by all of Indonesia’s telco providers, and partners the likes of Tokopedia, Shopee, and Traveloka. It processes more than 5 million transactions per month.

Other than Sepulsa, Alterra’s businesses also include Alterra Academy, an incubator for tech talent that runs a three-month program in the Indonesian city of Malang.

The company last raised funding in early 2018 – a series B round from Alpha JWC Ventures and Captii Ventures. Alpha JWC’s co-founder and managing partner Jefrey Joe is also a co-founder of Sepulsa.