Indonesian Startup Landscape

Modern Internasional closed all 7-Eleven Indonesia outlets on 30 Jun 2017

AI-edited transfer receipts used to trick sellers and merchants

Fake courier receipt, wedding invite, PLN/BPJS bill, and e-tilang APK files

Iconic Jakarta music store closed as digital music and piracy crushed physical sales

Trust-based group savings scheme that collapses when organizer disappears

Robot trading case; Wahyu Kenzo sentenced to 10 years

OJK Satgas PASTI stopped BBH Indonesia and Smart Wallet in Mar 2024

Binary option case; Indra Kenz sentenced to 10 years

Telkom/eBay marketplace stopped shopping activity in Sep 2020 and closed Oct 2020

Indonesian marketplace — SHUT DOWN e-commerce in 2025

Fake vendor or boss email requests that redirect legitimate payments

PT Tozy Sentosa, operator of Centro and Parkson, was declared bankrupt in May 2021

Robot trading platform highlighted in OJK/SWI illegal investment enforcement

MAP closed the remaining Debenhams Indonesia outlet by end-2017

AI voice and face impersonation for urgent money requests

Pyramid-style investment; founder Fili Muttaqien sentenced 4 years

Crypto-style investment case; Bareskrim named suspects in 2021

XL Axiata/SK Planet marketplace closed consumer e-commerce in Dec 2022

Future E-Commerce case; OJK informed business-license revocation and Satgas blocked illegal offers

Calls, WhatsApp, prizes, permits, and debt whiteout claims abusing OJK name

Umrah travel fraud; founders sentenced 20 and 18 years

Hero Group closed all Giant outlets in Indonesia by end-July 2021

OJK Satgas PASTI stopped debt-erasure and non-budget investment financing offers in Oct 2025

Gold investment case; OJK said SIUP was not an investment license

P2P lending — OJK revoked license, founder on Interpol list

JD.com-backed e-commerce shut all Indonesia services on 31 Mar 2023

The Jakarta Globe discontinued print at end-2015 and became digital-only

E-commerce-style money game; site blocked by Satgas in July 2023

Cooperative savings scandal; MA sentenced founder Henry Surya to 18 years

Cipaganti investment case; boss sentenced to 18 years over Rp3.2T case

Consumer cooperative sold investment packages outside its permit scope

Mitra Adiperkasa closed all Lotus department-store outlets in 2017

Like-and-subscribe tasks that move victims into deposit missions

Internet money-game wave promising around 30 percent monthly returns

Teen magazine HAI ended regular print publication in Jun 2017 and moved digital

Teen-girl magazine Kawanku ended print in Dec 2016 and shifted audience to Cewekbanget.id

Lippo-backed e-commerce site closed in 2018 and merged into Matahari.com

Advertising-reward money game; Polda Jatim reported Rp750B turnover

OTT streaming — Djarum Group backed, shut down Dec 2025

Social network turned e-commerce shut service on 6 May 2013 and business on 31 May 2013

Robot trading case; Bareskrim named 13 suspects and reported thousands of victims

Satgas PASTI stopped fake Omnicom Group activity in Jul 2025

Part-time job offer named by Satgas PASTI Jan 2025

Investment package scheme compared with Koperasi Langit Biru in 2012

Crypto asset purchase platform with AI technology named by Satgas PASTI Jan 2025

Server AI purchase offer with daily income named by Satgas PASTI Jan 2025

Investment scheme; leader sentenced 15 years and 26 members sentenced 8 years

Online travel agent stopped operating on 11 Dec 2023 after almost 12 years

Handmade craft marketplace shut down in Mar 2019 after four years

Binary option case; Doni Salmanan sentenced to 4 years at first instance

Rakuten shut Indonesia e-commerce on 1 Mar 2016

PropertyGuru closed its Indonesia property marketplace on 1 Dec 2023

Legendary afternoon newspaper stopped publishing on 1 Jan 2016 after long losses

Fashion e-commerce — Indonesia's ASOS, liquidated 2020

Kompas Gramedia ended the print edition of Tabloid BOLA on 26 Oct 2018

Satgas Waspada Investasi ordered Talk Fusion to stop operations in 2017

Agritech — raised $65M, collapsed 2024

Legendary Indonesian bookstore chain; all remaining outlets planned to close by end-2023

B2B marketplace for warungs — Bezos-backed, returned 30% to investors

Watch-to-earn apps flagged by OJK/SWI as illegal or money-game risk in 2021

Gold-mining investment offer reported to OJK/Satgas Waspada Investasi

Automatic digital-currency trading with AI named by Satgas PASTI Jan 2025

Server-rental and high-return offer blocked by Satgas PASTI in Oct 2024

Crypto, futures, forex, local industry deposit offer named by Satgas PASTI Jan 2025

Indonesian location social network acquired by Yahoo in 2010 and shut in Aug 2012

EdTech pioneer — shut down after 20 years

Fashion marketplace — raised $308M, collapsed amid fraud allegations

Aquatech unicorn — CEO jailed 9 years for $300M fraud

AI-branded passive-income offers without clear customer, margin, or delivery

Wealthtech — stock trading app, $243M raised, user growth stalling

Indonesia super-app — ride hailing, e-commerce, fintech

Telehealth — still burning cash, no profitability path

Part-time job offers that ask users to deposit money before earning

P2P lending — Rp365B fraud, under OJK scrutiny

Cash-heavy businesses, property, shell companies, crypto, money changers, and trade invoices as AML risk zones

EdTech leader — massive layoffs, growth stalled

E-grocery — raised $140M, closed B2C warehouses

E-commerce leader — 40% market share but still losing money

Logistics couriers — 20,000 workers laid off in 2024

Growth bought with vouchers, free shipping, incentives, and investor money

Social commerce — acquired Tokopedia, 11% market share

OTT streaming — Emtek subsidiary, last local platform standing

Fisheries marketplace — $30M raised, stuck on cold chain logistics

Full-stack shrimp production — $7.25M Series A, actual farming with tech

Shrimp aquaculture IoT — 6,700 farms, 10% market digitized, but scaling is hard

EdTech exam prep — animated videos, popular but can't scale content affordably

Telkom's EdTech — 7,000 schools but state-owned bureaucracy holds it back