About Flip
Flip is a company based in Depok (Indonesia) founded in 2016 by Ginanjar Ibnu Solikhin, Luqman Sungkar, and Rafi Putra Arriyan. It operates as a FinTech, and Commission-Based. Flip has raised $103 million across 4 funding rounds from investors including Tencent, Block and Peak XV Partners. Flip offers products and services including Interbank Transfer, E-Wallet Top-Up, International Transfer, and Digital Products. Flip operates in a competitive market with competitors including MoneyGram, DANA, OVO, LinkAja and Ascend Money, among others.
- Headquarter Depok, Indonesia
- Founders Ginanjar Ibnu Solikhin, Luqman Sungkar, Rafi Putra Arriyan
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Pt Fliptech Lentera Inspirasi Pertiwi
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$103 M (USD)
in 4 rounds
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Latest Funding Round
$55 M (USD), Series B
Jun 14, 2022
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Investors
Tencent
& 7 more
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Employee Count
Employee Count
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Products & Services of Flip
Flip offers a comprehensive portfolio of products and services, including Interbank Transfer, E-Wallet Top-Up, International Transfer, and Digital Products. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Free transfers between over 100 Indonesian banks are provided.
Top-ups for various digital wallets are facilitated affordably.
Money transfers to over 55 countries are supported.
Affordable purchase of credit, electricity, and data is offered.
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Funding Insights of Flip
Flip has successfully raised a total of $103M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $55 million completed in June 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $55.0M
- First Round First Round
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2022 | Amount | Series B - Flip | Valuation | Tencent | |
| Dec, 2021 | Amount | Series B - Flip | Valuation | Insight Partners , Insignia Ventures Partners |
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| Jun, 2020 | Amount | Series A - Flip | Valuation | Peak XV Partners |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Flip
Flip has secured backing from 8 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Tencent, Block and Peak XV Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investment firm scaling software and technology companies from early to late stages.
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Founded Year | Domain | Location | |
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Venture capital services and app-based platform requiring JavaScript.
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Founded Year | Domain | Location | |
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Venture capital firm investing in startups and providing support programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Flip
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Flip
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Flip Comparisons
Competitors of Flip
Flip operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MoneyGram, DANA, OVO, LinkAja and Ascend Money, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
Digital wallet
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| domain | founded_year | HQ Location |
OVO is recognized as a smart digital payment application.
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| domain | founded_year | HQ Location |
Mobile payments are enabled via app for consumers in Indonesia.
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| domain | founded_year | HQ Location |
Financial services platform for individuals
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Flip
Frequently Asked Questions about Flip
When was Flip founded?
Flip was founded in 2016 and raised its 1st funding round 3 years after it was founded.
Where is Flip located?
Flip is headquartered in Depok, Indonesia. It is registered at Depok, West Java, Indonesia.
Who is the current CEO of Flip?
Rafi Putra Arriyan is the current CEO of Flip. They have also founded this company.
Is Flip a funded company?
Flip is a funded company, having raised a total of $103M across 4 funding rounds to date.
What does Flip do?
Flip is operated as a financial services provider focusing on affordable money transfers across over 100 banks in Indonesia. Services are extended to e-wallet top-ups, international transfers to over 55 countries, and digital product purchases like credit and data. The company is licensed by Bank Indonesia, ensuring secure transactions in the financial sector.
What products or services does Flip offer?
Flip offers Interbank Transfer, E-Wallet Top-Up, International Transfer, and Digital Products.
Who are Flip's investors?
Flip has 8 investors. Key investors include Tencent, Block, Peak XV Partners, Insight Partners, and Guillaume Pousaz.
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