Indonesian entrepreneurs — Reinis Simanovskis and Markus Prommik — are on a mission to simplify financial access in Indonesia with fair and inclusive through embedded lending solutions. Their startup, Danabijak, is a smart solution for all the financial needs of the Indonesian people.
The founder’s journey started when they noticed a financial gap in the market. With this gap, they were disappointed.
However, with a ground-breaking idea, the founder set out to address this gap. The best part of their story is that instead of overlooking the problem, they saw it as a world full of opportunities. They began a new chapter with a clear goal of empowering every business to become a fintech business.
Innovative Minds Behind Danabijak
“Integrate sustainable financing into every digital transaction in SEA” is the vision of two innovative Minds behind Danabijak.
The two innovative minds, Markus Prommik and Reinis Simanovskis believe that “Ideas are essential. Execution is priceless.” When they found a gap in the fintech sector, they realized that if they could solve the problem, so they would be able to enable the ecosystem to offer better financing access. This thought stuck in their mind, and they decided to come up with a solution.
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Gap To Business World
The idea for Danabijak was born out of noticing a pain point in the market.
Markus Prommik and Reinis Simanovskis noticed a problem in the local financial system, especially when it came to getting access to loans. They noticed that in Indonesia, financial services like payments, loans, and insurance are becoming available directly through everyday apps, making them easier to access. However, many people still find it hard to access fair and clear financial options.
During this time, they discovered that many organizations in Indonesia could take weeks to approve loans and often reject up to 85% of applicants. It becomes a struggle for those who need to borrow money and for SMEs who are in a tough time.
When the Founder got to know about the gap, one thought stuck in their mind, “Everyone should have the opportunity to be enabled to seamless access to payments, lending, and insurance within the non-financial applications.”
Concept To Creation- Danabijak
Now, they were determined to solve this problem; the plan had been made, and the concept was ready, but turning the concept into reality was not a cup of tea. Working around the clock, brainstorming day and night, initial challenges, and a little fair about the decisions.
But taking a leap of faith, they aligned their entrepreneurship spirit with purpose and aimed to reshape access to finance in SEA.
Markus Prommik and Reinis Simanovskis launched Danabijak, an Indonesia-based one of the first online microfinance providers in the country, dedicated to making financing accessible to millions of Indonesians.
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Danabijak- A Financial Solution
Founded in 2015, Danabijak is a solution for all financial needs.
Indonesia-based Danabijak is a peer-to-peer lending platform that helps small and medium-sized businesses (SMEs) get loans offering simple, fair, and inclusive financial products that give businesses more control over their finances and create more opportunities for them.
Danabjak solves this problem by using data from platforms that SMEs already use, like accounting software and point-of-sale (POS) systems. By analyzing this data, Danabijak can quickly assess the business’s financial situation, making it easier to approve loans. This reduces the long wait and simplifies the process for businesses that traditional organizations often overlook.
Danabijak’s system uses data to simplify the loan application process, making it quicker and easier for businesses to apply for loans and get approved. This approach reduces the usual complexity and barriers SMEs face when taking funding.
First, they started by focusing on lending to consumers, then in 2022, they changed direction when they noticed that many companies don’t deal with finance and wanted to offer lending products to their customers who borrow money, but under their brand name, not Danabijak’s.
To meet this need, in 2022, they launched a new platform called Finfra. Instead of just offering loans to customers, they now focus on helping other businesses provide these loan services using the businesses’ on-brand. This way, non-financial companies can give loans to their customers without having to manage the lending process themselves.
The founders believed that “providing loans to individuals was not the only problem to solve; it was about enabling the ecosystem to offer better financing access. “With this belief, their hard work paid off, and now they ensure “Approvals within hours and disbursement within days.”
What’s Next- Danabijak
The startup is committed to making a meaningful difference by tackling the growing issue of financial needs. However, by providing simple, fair, and inclusive through embedded lending smart solutions for all financial needs, they plan to lead the embedded lending market in Indonesia and expand to other Southeast Asian countries.
They have a simple mission to reduce the financial gap in the region, which will help local economies. Danabijak is driven by the positive impact it has on borrowers, helping businesses grow and improving people’s lives.
The founders’ journey with Danabijak serves as an inspiring example of how vision, resilience, and strategic thinking can lead to remarkable success.
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