Indonesian fintech firm banks $15m, promotes ex-Gojek exec to CEO

Mapan, an Indonesia-based fintech firm, has raised US$15 million in a series A raise co-led by Patamar Capital and PT Astra Digital Internasional, with 500 Global participating. Ardelia Apti, a former Gojek executive who serves as Mapan’s chief commercial officer, was also appointed as the startup’s new CEO.

The Mapan team / Photo credit: Mapan

Founded in 2009, Mapan is a digital community that links users to financial services. In 2015, it launched its Mapan Arisan service, bringing a digital spin to a traditional rotating savings scheme. This scheme involves group members taking turns in purchasing products for everyone.

The firm also offers bills payment through Mapan Pulsa and consumer goods resale via Mapan Mart. Super app Gojek acquired Mapan and two other Indonesian fintech firms in 2017.

Mapan’s latest raise will go towards improving its Arisan service. The startup plans to team up with top suppliers as it attempts to reach 10 million local households by 2026.

“We are honored that through the Mapan Arisan product, they have been empowered to help their communities improve their ability to purchase household goods, thus boosting their quality of life,” said Apti.

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The new CEO spent five years in Gojek, three of which were with GoPay. She was also a consultant at McKinsey & Company and was the country director for Element before joining Mapan as chief commercial officer earlier this year.

Other participants in the round are:

• BRI Ventures
• SMDV
• Blibli
• Prasetia Dwidharma
• Flourish Ventures