List of 97 Online Loan Providers Fined by KPPU in Interest Rate Cartel Case
The Commission for the Supervision of Business Competition (KPPU) has ruled that 97 business actors in the peer-to-peer lending fintech services, or online loans, have been found guilty of violating Article 5 of Law No. 5 of 1999 on the Prohibition of Monopolistic Practices and Unhealthy Business Competition. For this violation, the business actors have been imposed with various fines totalling Rp 755 billion.
“This decision marks the end of one of the largest business competition cases ever handled by KPPU, both in terms of the number of respondents and the scope of the industry that directly impacts the wider public,” said the Head of the Public Relations and Cooperation Bureau of KPPU, Deswin Nur, in an official statement on Thursday, 26 March 2026.
He explained that based on the examination of evidence and facts revealed at the trial, the Commission Panel concluded that there had been an agreement on setting interest rates and/or economic benefits by the respondents.
Deswin stated that the setting of an upper limit on interest rates, which is far above the market equilibrium level, is non-binding and ineffective in protecting consumers. Furthermore, the upper limit on interest rates is considered to potentially function as a mechanism that facilitates price coordination among business actors.
According to Deswin, in such conditions, the existence of the upper limit directs the expectations and pricing strategies of business actors, thereby encouraging the formation of aligned behaviour in setting interest rates. “As a result, this policy reduces the intensity of price competition and hinders competitive dynamics in the online loan market,” he said.
The following is the list of fines imposed on the 97 online loan business actors:
PT Abadi Sejahtera Finansindo
PT Adiwisista Finansial Teknologi
PT Akseleran Keuangan Inklusif Indonesia
PT Aktivaku Investama Teknologi
PT Alami Fintek Sharia
PT Aman Cermat Cepat
PT Amartha Mikro Fintek
PT Ammana Fintek Syariah
PT Anugerah Digital Indonesia
PT Artha Dana Teknologi
PT Artha Permata Makmur
PT Astra Welab Digital Arta
PT Berdayakan Usaha Indonesia
PT Bursa Akselerasi
PT Cerita Teknologi Indonesia (formerly PT Cerita Investasi Teknologi Indonesia)
PT Cicil Solusi Mitra Teknologi
PT Creative Mobile Adventure
PT Crowde Membangun Bangsa
PT Dana Bagus Indonesia
PT Dana Kini Indonesia
PT Dana Pinjaman Inklusif
PT Dana Syariah Indonesia
PT Digital Micro Indonesia
PT Doeku Peduli Indonesia
PT Duha Madani Syariah
PT Esta Kapital Fintek
PT Ethis Fintek Indonesia
PT Fidac Inovasi Teknologi
PT Finansia Aira Teknologi
PT Finansial Integrasi Teknologi
PT Fintech Bina Bangsa (formerly PT Dana Bina Bangsa)
PT Fintegra Homido Indonesia
PT Fintek Digital Indonesia (formerly PT Fintek Digital Ventura Indonesia)
PT Gradana Teknoruci Indonesia
PT Grha Dana Bersama
PT Harapan Fintech Indonesia
PT Idana Solusi Sejahtera
PT Iki Karunia Indonesia (formerly PT Iki Dana Indonesia)
PT Inclusive Finance Group
PT Indo Fin Tek
PT Indonesia Fintopia Technology
PT Indonusa Bara Sejahtera
PT Indosaku Digital Teknologi (formerly PT Sens Teknologi Indonesia)
PT Info Tekno Siaga
PT Inovasi Terdepan Nusantara
PT Intekno Raya
PT Julo Teknologi Finansial
PT Kawan Cicil Teknologi Utama
PT Klikcair Magga Jaya
PT Komunal Finansial Indonesia
PT Kreasi Anak Indonesia
PT Kredifazz Digital Indonesia (formerly PT Finaccel Digital Indonesia)
PT Kredit Pintar Indonesia
PT Kredit Plus Teknologi
PT Kredit Utama Fintech Indonesia
PT Kreditku Teknologi Indonesia
PT Kuaikuai Tech Indonesia
PT Lampung Berkah Finansial Teknologi
PT Pindar Berbagi Bersama (formerly PT Layanan Keuangan Berbagi)
PT Lentera Dana Nusantara
PT Linkaja Modalin Nusantara (formerly PT Igrow Resources Indonesia)
PT Lumbung Dana Indonesia
PT Lunaria Annua Teknologi
PT Mapan Global Reksa
PT Mediator Komunitas Indonesia
PT Mekar Investama Teknologi (formerly PT Mekar Investama Sampoerna)
PT Mitrausaha Indonesia Grup
PT Modal Rakyat Indonesia
PT Mulia Inovasi Digital
PT Oriente Mas Sejahtera
PT Pasar Dana Pinjaman (formerly PT Komunindo Arga Digital)
PT Pembiayaan Digital Indonesia
PT Pendanaan Teknologi Nusa
PT Pinduit Teknologi Indonesia
PT Pinjaman Kemakmuran Rakyat
PT Pintar Inovasi Digital
PT Piranti Alphabet Perkasa
PT Plus Ultra Abadi (formerly PT Fintech Uangsaku Indonesia)
PT Pohon Dana Indonesia
PT Progo Puncak Group
PT Qazwa Mitra Hasanah
PT Rezeki Bersama Teknologi
PT Ringan Teknologi Indonesia (formerly PT Lufax Technology Indonesia)
PT Sahabat Mikro Fintek
PT Satustop Finansial Solusi
PT Sejahtera Sama Kita
PT Simplefi Teknologi Indonesia
PT Smartec Teknologi Indonesia
PT Sol Mitra Fintec
PT Solid Fintek Indonesia
PT Solusi Teknologi Finansial
PT Stanford Teknologi Indonesia
PT Teknologi Merlin Sejahtera
PT Toko Modal Mitra Usaha
PT Tri Digi Fin
PT Trust Teknologi Finansial
PT Uangme Fintek Indonesia