Durianpay eyes expansion following spike in growth

Financial technology company Durianpay has announced plans for further expansion following a good financial performance in the first half of 2023.

Established in 2020 and backed by AC Ventures, Durianpay reported a positive growth margin and US$700 million annualised total processing value (TPV) run rate, marking a five-time YoY growth since 2022.

This growth is attributed to Durianpay’s newest B2B product that allows mid-market and large enterprises to fully automate their invoice processing and process incremental payments on large invoices.

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“The companies we work with often deal with hundreds and thousands of daily transactions and many large invoices simultaneously. To make matters more complicated, a great number of such invoices need to be paid by customers incrementally,” said Natasha Ardiani, co-founder and chief operations officer of Durianpay.

Durianpay works with tech-enabled platforms and traditional enterprises like eFishery, Evermos, Carsome, GoWork and Transtrack to provide financial automation collection solutions.

“With Durianpay’s latest enterprise-centric product, businesses can now instantly match specific inbound transactions with their corresponding invoice, allow for incremental payments by the customer, understand precisely how much is still owed for each invoice and more,” added Ardiani.

Durianpay plans to expand its team of 40 in lieu of projected growth and it will be active in its recruitment process, particularly for its product, tech, operations, finance and business development teams.

Additionally, it will concentrate on enhancing the merchant experience. Having identified the untapped potential in the B2B payments sector, Durianpay will be focusing on vertical-specific solutions. “We are creating a system that makes the flow of money along between businesses easier by digitising, automating, and streamlining processes like purchase orders, invoices, payment collection, invoice tracking and reconciliation,” Ardiani said,

Aridiani went on to explain that Durianpay consulted B2B companies in Indonesia before creating the business payment solution which builds over their own existing solutions.

The news comes just as Indonesian F&B startup UENA secured new round of funding to ramp up market expansion. It has raised an undisclosed amount of new funding co-led by East Ventures and the news investor from Trihill Captital.

UENA is currently preparing for growth and duplication in Jakarta, where each kitchen needs to be quickly set up with the flexibility to utilise a variety of available spaces. In order to increase repeat business at different mealtimes each day and on various days of the week, UENA will also keep adding new menu items.

Commenting on the company’s expansion plan, Alvin Arief, co-founder and chief executive officer of UENA, said, “After implementation and execution of our idea, we feel fortunate to see the validation we receive from the market. Majority of our orders come from repeat customers and their orders continue to increase from month to month.”

“Even though we have only been operating in less than one year, the mature stores are already break-even and getting a healthy payback period. The new fund adds our confidence to continue capturing the great opportunity ahead,” he added.  

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