In today’s feature on Behind the Fund, we explore Paper.id, a fintech platform transforming financial management for small and medium enterprises (SMEs) in Indonesia. Paper.id simplifies invoicing, payment management, and record-keeping, giving businesses the tools they need to thrive in a digital economy. We spoke with Yosia Sugialam, CEO & Co-Founder of Paper.id, to understand how the platform is making an impact.

Empowering SMEs through Financial Simplification

Paper.id was founded to address inefficiencies in traditional financial processes. Yosia Sugialam recalls the frustration of managing manual invoicing in his family business, which often resulted in limited financial access for business owners. “In many cases, businesses struggle to obtain payment terms from suppliers, forcing them to seek loans from banks. However, due to the lack of digital financial records, banks frequently reject these applications,” he explains.

This experience inspired Paper.id’s mission: to create a platform that not only streamlines financial operations but also empowers SMEs to gain better financial access. Today, Paper.id offers digital bookkeeping solutions that enable businesses to manage invoices, payments, and records efficiently. 

This shift from manual to digital not only improves operational efficiency but also enhances SMEs’ eligibility for financial support, allowing them to grow and sustain their operations. By integrating with ERP systems, Paper.id provides a comprehensive solution that gives businesses a critical advantage in today’s competitive landscape.

Innovative Features and Strategic Partnerships

Among its standout offerings is the Paper Virtual Corporate Card (PVCC), which provides financial flexibility by extending payment terms through credit card usage. This innovation has attracted strategic partnerships with industry giants such as BRI, BNI, UOB, VISA, AMEX, JCB, and Mastercard, keeping Paper.id at the forefront of fintech solutions. Its real-time transaction reconciliation ensures businesses always have accurate financial data, enabling them to make informed decisions and maintain a competitive edge.

Since its launch, Paper.id has expanded to over 600,000 users, including well-known brands like Kopi Kenangan and J&T Cargo. Its partnerships with major corporations, such as PT Catur Sentosa Adiprana Tbk. (Mitra10) highlight its ability to serve both large and small businesses effectively. Yosia adds that, “Each of these achievements underscores our commitment to helping businesses grow and thrive.”

Overcoming Challenges and Building Trust

One of Paper.id’s biggest challenges was transitioning SMEs from traditional to digital invoicing. Many businesses were initially hesitant, holding the belief that physical invoices offered more control over their financial processes. In contrast to their pre-existing belief, digitalization through Paper.id demonstrated that modern invoicing could provide even greater control and security. To address these concerns, Paper.id implemented educational sessions and user guides, collaborating closely with early adopters to build trust in the platform.

With digital invoicing, Paper.id offers reliable tracking, minimizing fraud and ensuring transaction security. The platform emphasizes transparency, allowing businesses easy access to verify records, and automatically reconcile transactions for efficiency. Its strong compliance standards meet regulatory requirements, reinforcing trust and reliability.

 

“The key to success is listening to our users. And we listen to them continuously to refine our platform to meet their needs,” said Yosia.

Culture and Values that Drive Innovation

Paper.id’s success is deeply rooted in its user-centric culture, operating on the principle that “User Is Our Boss” Every decision is aimed at delivering exceptional user experiences. This commitment, combined with values of collaboration, innovation, and bold action, ensures that the platform continues to evolve in the fast-changing fintech landscape. 

As Yosia explains, working at Paper.id is not just about jobs—it’s about being part of a mission to transform businesses across Indonesia. Hence, proactive, adaptable, and problem-solvers are the main traits Paper.id is looking for when recruiting.

Looking ahead, Paper.id is focusing on enhancing its offerings with cross-border payment solutions to support businesses as they expand internationally. Additionally, the company is investing in AI-driven technology specifically designed for large enterprises. Features such as Optical Character Recognition (OCR) will automate document processing and financial management, providing deeper insights and efficiency for users. 

“Our vision is to be the go-to platform for SMEs, not just in Indonesia but across the region. We are developing solutions like AI-powered financial tools and consulting services tailored to business needs, ensuring our platform stays relevant and valuable as businesses grow,” Yosia explains.

Skystar Capital is proud to support Paper.id’s mission of making fintech solutions accessible to businesses of all sizes. As a portfolio company, Paper.id exemplifies the power of innovation and customer-centricity. “Skystar Capital invested in Paper.id because of its exceptional traction, exponential revenue growth, and strong product-market fit. With a management team led by industry veterans, we believe Paper.id is poised to revolutionize the B2B payment landscape in Southeast Asia,” said Geraldine Oetama, Partner at Skystar Capital.

With tremendous growth potential, Paper.id is not only reshaping financial management for SMEs in Indonesia but is also positioned to lead the fintech revolution across the region.

As a venture capital firm focused on supporting startups to reach their full potential, Skystar Capital encourages visionaries to foster a culture of innovation by collaboration and having conviction with their company’s vision. Submit your business proposal here and become part of a growing startup ecosystem with us! We are ready to be your startup’s earliest backers.

Follow our social media accounts on LinkedIn, YouTube, and Instagram to stay updated!