Amartha, an Indonesia-based platform for entrepreneurs, announced on Wednesday that it has become Amartha Financial Group after receiving a digital wallet license from Bank Indonesia.
This milestone marks a new chapter in Amartha’s mission to unlock the potential of Indonesia’s grassroots economy through digital technology, the firm said in a statement.
Now rebranded as Amartha Financial, the company is moving beyond microloans to offer digital payments, micro-investments, and other tech-driven financial services. Its goal is to build a full financial system for Indonesia’s rural economy, which employs over 40 million informal workers, according to the country’s Central Statistics Agency.
“Our vision is to catalyze the sleeping potential of Indonesia’s rural economy,
“By combining digital technology with deep human understanding, we are committed to scale impact for the grassroots, supporting millions of grassroots users to grow income, build assets, and take charge of their future,” said Andi Taufan Garuda Putra, Founder and Chief Executive Officer of Amartha.
Anastuty Kusumowardhani, Head of Financial Inclusion and Green Economy at Bank Indonesia, stated that the central bank will continue to support financial inclusion nationwide through targeted policies and educational programs, particularly for women.
Founded in 2010, Amartha has been using technology to improve financial access in rural areas. Over the last 15 years, it has provided loans to more than 3.3 million women-led microbusinesses across 50,000 villages, building strong trust in local communities.
With its new services, Amartha Financial aims to create a positive cycle: entrepreneurs can borrow money to start businesses, invest small amounts to build assets, and use digital payments to cut costs.
This integrated model helps improve productivity, lower expenses, and make households and communities more resilient.
According to Nailul Huda, Director of Digital Economy at CELIOS, about 81% of Indonesians still don’t have full access to formal financial services, showing that financial inclusion is still very low, especially in rural areas.
Cited OJK, he said financial inclusion in rural communities continues to lag behind their urban counterparts.
“Leveraging a deep understanding of rural behavior and needs, there is a pressing need for innovation in rural financial services, including Amartha’s initiatives,
“Amartha’s transformation can help advance financial inclusion in rural areas, particularly at the grassroots level, thereby significantly boosting regional economic growth,” he added.
Amartha uses an AI-powered credit scoring system designed for rural borrowers, built on more than 10 years of community-level data.
This mix of advanced technology and local, hands-on experience shows the company’s commitment to a unique goal: transforming rural economies with technology made for grassroots communities.
In comparison, a 2024 survey by the Indonesian Fintech Association (AFTECH) found that 96% of fintech firms only focus on big cities in Java, leaving out Indonesia’s 100+ million rural population.
Amartha’s rural-first approach has attracted strong support from global investors, including the International Finance Corporation (IFC), Accion Digital Transformation Fund, Women’s World Banking, and several European sovereign funds.
“Global investors are drawn not only to our unique approach, but also to our governance standards, including internationally certified borrower protection practices,” said Amartha Chief Financial Officer Ramdhan Anggakaradibrata.
Njord Andrewes, Managing Partner at Accion Digital Transformation, said the firm is proud to support Amartha’s expansion of responsible financial services for grassroots entrepreneurs.
“This represents a valuable model of how technology can help drive rural economic growth: creating shared prosperity through digital financial tools that are accessible, trusted, and transformative,” he added.
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