Flip is a financial platform that enables users to transfer money between over 100 banks in Indonesia without incurring transaction fees, while also allowing for e-wallet top-ups and international remittances. By eliminating administrative costs associated with bank transfers, Flip provides a cost-effective solution for individuals and businesses managing frequent transactions.
Funding
$120.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional bank transfers in Indonesia often incur transaction fees, especially when transferring between different banks. Topping up e-wallets and sending money internationally can also be expensive due to administrative costs and unfavorable exchange rates. This creates a barrier for individuals and businesses that frequently conduct online transactions.
Solution
Flip is a financial platform that enables users to conduct fee-free money transfers between over 100 banks in Indonesia. In addition to bank transfers, Flip allows users to top up e-wallets and send money internationally at competitive rates. By streamlining the transfer process and eliminating unnecessary fees, Flip provides a cost-effective solution for managing digital payments.
Target Audience
Flip primarily targets individuals and businesses in Indonesia who regularly transfer money between banks, top up e-wallets, make international remittances, and purchase digital products.
Features
- Fee-free transfers to over 100 banks in Indonesia
- E-wallet top-up support for DANA, OVO, GoPay, ShopeePay, and LinkAja
- International money transfers to over 55 countries via Flip Globe
- Digital product purchases, including prepaid phone credit, electricity tokens, and data plans
- Bill payment services for electricity, water, BPJS, internet, and cable TV
- Licensed and supervised by Bank Indonesia
- Mobile apps available on both App Store (rated 4.8) and Play Store (rated 4.9)