MAROKO133 Update startup: GoTo hits first profit 💰, TikTok expands its reach 📱, AI powers

📌 MAROKO133 Breaking startup: GoTo hits first profit 💰, TikTok expands its reach 📱

Dear subscriber,

Indonesia’s digital economy is entering a new era of maturity and innovation. Local champions like Blibli and GoTo are proving that profitability and sustainable growth are achievable, while FORE Coffee sustained steady growth and Bukalapak continued its path toward operational maturity in 9M 2024. The government and private sector work hand in hand to restore trust in the startup ecosystem through initiatives like ReSTART. Momentum is also building around digital transformation—from the upcoming launch of the Digital Rupiah to TikTok’s expanding influence and the global rise of AI leaders like Nvidia and OpenAI. As Indonesia strengthens its digital infrastructure and develops homegrown AI talent, the focus is shifting toward long-term resilience, transparency, and impact.

🚀 ReSTART: Reviving Indonesia’s Digital Economy is coming to Medan! Join DailySocial, Komdigi, and Garuda Spark Innovation Hub for an inspiring session on how to rebuild a stronger, ethical, and impact-driven startup ecosystem for Indonesia’s digital future. 

🔗 Register now at s.id/gsihmedan

Best regards,
The DailySocial Team

What’s New

Blibli’s Strong Q3 Momentum

PT Global Digital Niaga Tbk (Blibli) recorded a 32% year-on-year increase in consolidated revenue in Q3 2025, reaching Rp 5.64 trillion, while the nine-month total grew 26% to Rp 15.24 trillion. This growth was largely driven by higher sales of smartphones and consumer electronics, two key segments of Indonesia’s e-commerce market. Blibli’s take rate rose from 6.7% to 8.4%, showing stronger profitability, while operating expenses as a share of total transactions dropped to 7.2%, reflecting better efficiency. The company also expanded its offline presence by adding 13 new electronics stores and enhancing its omnichannel loyalty integration. For Indonesia’s digital economy, Blibli’s progress demonstrates how homegrown e-commerce platforms can scale sustainably and move closer toward long-term profitability.

GoTo Reports First Pre-Tax Profit and 21% Revenue Growth

GoTo Group reported its first adjusted pre-tax profit of Rp 62 billion in Q3 2025, with net revenue rising 21% year-on-year to Rp 4.7 trillion. Total gross transaction value (GTV) surged 43% to Rp 102.8 trillion, while annual transacting users in Indonesia reached 61 million. The company also raised its full-year adjusted EBITDA guidance to Rp 1.8–1.9 trillion, underscoring progress toward sustainable profitability. This milestone highlights the continued maturation of Indonesia’s leading tech ecosystem—not only in user scale but also in financial performance. For investors and the startup community, GoTo’s achievement strengthens confidence in Indonesia’s capacity to build profitable, scalable digital enterprises.

FORE Coffee (PT Fore Kopi Indonesia Tbk) – 9M 2025 Summary

During the nine-month period ending September 30, 2025, PT Fore Kopi Indonesia Tbk demonstrated stable operational growth supported by prudent financial management and store expansion. The company maintained healthy liquidity while fulfilling all loan covenants with Maybank Indonesia, including a musyarakah financing facility of up to Rp 30 billion for store development. Interest expenses totaled approximately Rp 1.6 billion, reflecting ongoing financing activities to support outlet expansion and operational efficiency. The company’s capital structure remains solid, with Fore Holdings Pte. Ltd. retaining a majority ownership of around 78.9%, underscoring investor confidence in Fore’s business model. Overall, Fore continues to strengthen its retail network and brand position in Indonesia’s competitive coffee market while maintaining sound financial discipline.

Bukalapak (PT Bukalapak.com Tbk) – 9M 2024 Summary

Based on Bukalapak’s Q3 2024 interim financial report, the company recorded a net loss of Rp 593.2 billion — a notable improvement from Rp 784.1 billion in the same period of 2023. Revenue grew modestly by 1.8% year-on-year, from Rp 3.34 trillion to Rp 3.40 trillion. Despite the slow topline growth, the sharp reduction in losses indicates that Bukalapak’s path to profitability is accelerating, supported by tighter cost control and higher financial income (up from Rp 569 billion to Rp 784 billion). These results suggest that Bukalapak’s focus on efficiency and asset optimization is delivering measurable progress, moving the company closer to breakeven and strengthening its operational resilience in Indonesia’s competitive e-commerce market.

What’s Exciting

ReSTART: Rebuilding Indonesia’s Digital Trust and Entrepreneurship

DailySocial, in collaboration with the Ministry of Communication and Digital Affairs (Komdigi) and Garuda Spark Innovation Hub, launched the ReSTART initiative on October 28, 2025, in Bandung as a movement to revive confidence and entrepreneurship in Indonesia’s digital ecosystem. The program aims to rebuild the industry around strong business fundamentals rather than valuation hype. The first event, themed “Building a Strong & Mature Startup Team,” gathered over 100 foun…

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🔗 Sumber: dailysocial.id

📌 MAROKO133 Hot startup: Xendit acquires Payex 🇲🇾, Danantara targets $10B deployme

Dear subscribers,

We’re back in your inbox with a fast, zero-fluff briefing for founders, investors, VCs, and regulators across Indonesia, Southeast Asia, and beyond. This week: Xendit’s Malaysia push, Dunkin’s new operator, Danantara’s $10B deployment plan, TikTok’s license reinstatement, HSBC’s tokenised deposits rollout, and a governance watch on P2P lending—distilled into what matters and why.

Best regards,
The DailySocial Team

What’s New

• Xendit expands into Malaysia 🇲🇾. Indonesia’s leading payment gateway has completed the full acquisition of Payex, a Bank Negara–licensed payment gateway provider, and will rebrand it as Xendit Malaysia. Announced at the Selangor Smart City & Digital Economy Convention 2025, this move follows Xendit’s initial investment in Payex in early 2023. Since entering Malaysia, Xendit has onboarded 4,500+ businesses, processed over MYR 5 billion (~US$1.1 billion) in transactions, and plans to expand its local team, partnerships, and education initiatives. The new entity will be led by Jayson Poon, former central bank official. [Read More]

• Dunkin’ Donuts Indonesia enters new era 🍩. F&B local startup, DailyCo, through its subsidiary PT Diamonds Donuts Internasional (DDI), has officially taken over the master franchise license of Dunkin’ Donuts Indonesia from PT Dunkindo Lestari, effective October 7, 2025. The first new outlet is planned for Jakarta in Q4 2025, followed by gradual expansion through both flagship and neighborhood cafés. The move marks Dunkin’s major comeback in Indonesia’s growing bakery (US$50B+, 9.4% CAGR 2025–2029) and coffee (7% annual growth through 2031) markets. [Read More]

• Danantara to deploy $10B investments in 3 months 💰. Indonesia’s sovereign investment body, Danantara, aims to channel US$10 billion by January 2026, with 80% focused domestically. Current investments include projects in Saudi Arabia, renewable energy, and waste-to-power. CIO Pandu Sjahrir highlighted Indonesia’s mix of high yield and stability supported by low inflation and a young population. Danantara also aims to boost local capital market liquidity—currently around US$1B in daily turnover—far below India’s US$10–11B. [Read More]

• TikTok back in business 🎥. Indonesia has lifted TikTok’s license suspension after the company provided aggregated operational data requested by the government, including livestream, monetization, and web traffic activity. The suspension, imposed on October 3, followed incomplete compliance during unrest linked to a delivery driver’s death. With over 100 million users, TikTok’s return underscores its reliance on Indonesia as its largest Southeast Asian market, amid ongoing debates over data transparency and user trust. [Read More]

What’s Exciting

1️⃣ HSBC tokenizes deposits in Singapore 🪙. HSBC has expanded its Tokenised Deposit Service (TDS) to Singapore after launching in Hong Kong. The service allows instant 24/7 settlement using DLT-based digital tokens representing fiat deposits. Ant International became the first client to complete SGD and USD transactions across HSBC Singapore and Hong Kong, highlighting TDS’s potential in liquidity and FX management. The bank plans further rollouts in the UK and Luxembourg, positioning Singapore as a global treasury hub.

2️⃣ SBI Holdings joins Amar Bank 🇯🇵🇮🇩. Japan’s SBI Holdings has acquired over 5% stake in Amar Bank, becoming its third-largest institutional investor after Tolaram and Jagat Raya Imajinasi. Amar Bank CEO Vishal Tulsian said the partnership will enable synergy with SBI’s vast ecosystem, furthering Amar’s mission to transform retail and MSME banking in Indonesia.

What’s Next: Strengthening Fintech Governance Before the Snowball Effect Hits ⚖️

Indonesia’s fintech lending industry continues its rapid climb — outstanding loans reached Rp 87.61 trillion as of August 2025, up 21.6% YoY, according to the Financial Services Authority (OJK). Despite a relatively low 2.6% delinquency rate, the surge signals growing systemic risk if governance gaps persist.

Several players still fall short of the minimum capital requirements (Rp 12.5B for P2P platforms; Rp 100B for multifinance firms). OJK is urging recapitalization or new investor entry to prevent potential liquidity shocks. The Dana Syariah case — where lenders faced withdrawal delays despite a 99.82% repayment rate — underscores how weak governance can erode investor trust.

OJK has intensified enforcement, issuing hundreds of administrative sanctions in August 2025 and coordinating with law enforcement to uphold compliance and solvency standards.

With fintech lending expanding fast, stronger governance and risk management are urgently needed. If capital adequacy, transparency, and compliance issues are left unchecked, isolated incidents could escalate into a systemic crisis. As Dana Syariah’s case shows, trust is fragile and rebuilding it starts with firm, proactive regulation.

🔗 Sumber: dailysocial.id