MICROCAPITAL BRIEF: Logiq Launching “Super App” in Indonesia to Unite Payment, Microloan, Food Delivery, Insurance, Telemedicine Services

Logiq, a US-based technology services provider, recently unveiled plans to launch an as-yet unnamed “super app” in Indonesia to unify several planned new functions along with its existing payment service PayLogiq and food delivery service GoLogiq. Among the future services is a microlending platform, for which Logiq recently received approval from the Indonesian government. This will allow Logiq to lend to the 50 million members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), a state-owned pension and health benefit manager. Each loan, which may be for personal or business purposes, will range up to 20 percent of the borrower’s annual salary.

Other elements of the super app are to include virtual mental heath appointments; access to insurance; payments for driver license tests; and CreateApp, a platform that helps small and medium-sized enterprises create apps.

Among Logiq’s partners in Indonesia is Koperasi Mona Santoso Berjaya, whose goals are “maintaining and improving the quality of life for all Indonesians and increas[ing] the competitiveness of domestic production” through means including the provision of financial services.

Logiq is a publicly traded company that provides “digital marketing and consumer marketplace services in North America and mobile commerce services in South-East Asia.” As of 2020, the firm reports total assets of USD 39 million.

By Divya Deshmukh, Research Associate

Sources and Additional Resources

Logiq “super app” press release
https://logiq.com/2021/09/22/logiq-new-super-app-to-provide-easy-access-to-e-wallet-food-delivery-microloans-driver-license-testing-and-telehealth-services-in-indonesia/

Logiq regulatory press release
https://logiq.com/2021/09/13/logiq-receives-indonesian-government-approval-to-offer-micro-lending-services-to-50-million-indonesians/

Logiq financial statements
https://logiq.com/ir/financials-information/

PayLogiq homepage
https://www.atozpayindonesia.com/

GoLogiq homepage
https://atozgo.co.id/

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