Indonesia-focused Durianpay nets $2m funding, eyes payments modernisation

Durianpay, an Indonesia-focused payments stack, announced raising $2 million in a funding round led by Sequoia Capital India’s Surge and backed by AC Venture, Kenangan investment fund, and prominent angels.

The startup, which aims to modernise payments and improve the customer and merchant experience across Southeast Asia, is an end-to-end payments provider in Indonesia.

Founded in 2020 with headquarters in Indonesia and Singapore, Durianpay said it enables businesses to grow and scale through a one-stop solution for frictionless checkout and easy-to-integrate modern APIs and dashboard.

The Durianpay solution works across multiple payment gateways and payment providers, solving for complex integrations, manual reconciliations, and high costs.

Through a single integration, Durianpay offers businesses and developers access to a wider range of payment options as well as a no-code interface where businesses can create workflows, which put the merchant’s payment infrastructure on autopilot.

“Durianpay offers a seamless, one-stop solution for businesses in the region to better manage their payment processes. We have built our products and solutions with both businesses and developers in mind, with the vision of modernising payments through the provision of a next-gen, secure, and customised product experience,” said Durianpay Co-Founder, Natasha Ardiani.

Durianpay is part of Surge’s fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals live, work and learn better in a rapidly evolving Southeast Asian landscape.

Durianpay was founded by Antara Sara Mathai, Kumar Puspesh, and Natasha Ardiani in September 2020 in Jakarta. Antara has led product teams at notable players in FinTech and SaaS, including Citrus Pay and OnlinePajak.

Kumar Puspesh previously co-founded Moonfrog, one of the top game development companies in India. Natasha launched Shopee Indonesia’s
digital payment and PayLater businesses, and also led OVO’s lending and collection business.

While there has been a significant e-commerce boom in Southeast Asia in the last few years, the payments industry in Indonesia is still fragmented, manual, and not mobile-optimised. This often leads to high cart abandonment rates at checkout due to time-consuming, error and fraud-prone manual steps.