Indonesian business to business (B2B) payments orchestrator Durianpay has announced its plans for further expansion following a remarkable financial performance in the first half of 2023.

Durianpay said in a statement on Monday that it reported an impressive financial trajectory, marking a five times year on year growth in total processing value (TPV) since 2022 and a positive gross margin since its first year of operating.

Set to report a three times TPV surge for the first half of 2023, the startup credits the uptick to its latest B2B product that allows mid-market and large enterprises to fully automate their invoice processing and even process seamless incremental payments on large invoices.

Durianpay Co-Founder and Chief Operating Officer Natasha Ardiani sees this as an unaddressed pain point in the market.

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

According to her, the companies that the firm works with often deal with hundreds and thousands of daily transactions and many large invoices simultaneously. To make matters more complicated, a great number of these invoices need to be paid by customers incrementally.

She said that in the past, this kind of high-touch tracking, matching, and organization work would mean increasing an in-house finance team’s headcount.

According to the statement, Durianpay plans to expand its team of 40 to accommodate for projected growth.

The company will be making new hires across product, tech, operations, finance, and business development teams, with a specific focus on enhancing the merchant experience.

Natasha said that one-time integration through a single application programming interface (API) with Durianpay, 24/7 tech, and customer support, and a unique blend of features such as B2B checkout, make the firm a preferred choice for large enterprises.

“Durianpay is already outperforming existing solutions that require complex integration, manual reconciliations, and high costs,” she added.

Durianpay is a licensed payment orchestrator launched in 2020 and backed by AC Ventures.

The company, headquartered in Singapore and Indonesia, has innovated in the Southeast Asian B2B payments landscape by providing businesses and developers with a broader range of payment options and a no-code interface to create workflows that put the merchant’s payment infrastructure on autopilot.

It is noted that the company’s commitment to providing an enterprise-centric solution has won them clients from both tech-enabled platforms and traditional enterprises.

Companies like eFishery, Evermos, Carsome, GoWork, and Transtrack have chosen Durianpay for their payment solutions, appreciating the platform’s automation capabilities from invoice issuance to payment collection and reconciliation.

Before launching Durianpay, Natasha had a strong foundation in the digital payments realm, having started Shopee Indonesia’s digital payment and PayLater business units.

She was also in charge of OVO’s loan and collection division.

Durianpay Co-Founder Antara Sara Mathai comes to the table with experience in leading product teams at renowned fintech and software as a service (SaaS) companies such as Citrus Pay and OnlinePajak.

Similarly, Co-Founder Kumar Puspesh started Moonfrog, a premier game development company in India, backed by Sequoia Capital.

“We are creating a system that makes the flow of money along between businesses easier by digitizing, automating, and streamlining processes like purchase orders, invoices, payment collection, invoice tracking, and reconciliation.

“Before building these solutions, Durianpay held discussions with a variety of B2B players in Indonesia, both traditional and modern, and built a business payment system over their existing solutions,” Antara said.

Currently, Durianpay provides one of the most versatile payment methods for both receiving and disbursing B2B payments in Indonesia.

It is the only payment service provider in the market that has connections with the top ten banks and the top five e-wallets.

This has been made possible due to a continuous commitment to developing and enhancing the platform’s payment infrastructure over the past year and a half.

Having identified the untapped potential in the B2B payments sector, Durianpay is now doubling down on vertical-specific solutions.

“We envision becoming a full- stack B2B-focused payments and financing layer that digitizes, automates, and eases capital movement across the supply chain,” Antara said.

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