Flip Appoints Seasoned Fintech Leader Pratyush Prasanna as Group CEO to Accelerate Expansion in Payments and Financial Services

Jakarta, July 19, 2024 – Flip, one of Indonesia's leading fintech groups, today announced the appointment of Pratyush Prasanna as its new Group CEO. Pratyush Prasanna, who joined Flip Group last year as Managing Director, will now lead the group into its next phase of growth and innovation. Flip Group started with a revolutionary fee-free interbank transfer product and has since expanded its offerings to include a comprehensive suite of services for both individuals and businesses, including Flip for Business, a platform for business financial management; to Flip Globe, providing international remittance services.

This strategic move leverages Pratyush's extensive experience in the payments industry, building on the success of Flip's core transfer platform and expanding its business solutions. Founded in 2015 by Rafi Putra Arriyan, Ginanjar Ibnu Solikhin, and Luqman Sungkar, Flip has helped over 15 million individuals and more than 1,000 businesses process financial transactions, processing billions of dollars in financial transactions. All three co-founders continue to serve in strategic roles at Flip.

Rafi Putra Arriyan, co-founder of Flip, will now focus on leading the consumer business as President Director of PT. Fliptech Lentera Inspirasi Pertiwi ("Flip"), the entity behind the Flip consumer app. He stated, “Since founding Flip as fresh graduates, we've been relentlessly focused on championing fair financial services for Indonesians, with our revolutionary free interbank transfers as our cornerstone. As we accelerate our growth trajectory, expanding our product offerings for both individuals and businesses, we are thrilled to have Pratyush at the team. His expertise and passion for our mission make him the perfect fit to lead Flip Group into this exciting new chapter as we continue to evolve and reach new heights.”

"I am incredibly honored to lead Flip Group at this exciting stage of its growth. Flip Group has already made a remarkable impact in Indonesia by providing fair and accessible financial services that save both individuals and businesses valuable time and money. I’m eager to build upon that strong foundation. Since joining as Managing Director last year, I have been impressed with the company's focus and execution." said Pratyush Prasanna, Group CEO of Flip. "With our founders and our talented team, we will continue to innovate and expand our offerings, ensuring that all Indonesians have the tools they need to achieve their financial goals."

Pratyush brings a proven track record of success, having previously served as the Head of Merchant Payments at GoTo Financial, where he oversaw significant growth in their merchant payment solutions. Prior to that, he held leadership roles at Poynt and Paytm, driving product development and expansion in the Asian market. His deep understanding of the fintech landscape, combined with his passion for fair and accessible financial services, aligns perfectly with Flip Group's mission and values.

With visionary initiatives like BI Fast propelling Indonesia's fintech growth, Flip Group is well-positioned to capitalize on this momentum. The company's Series B funding round in 2022, which raised over USD 100 million from investors like Tencent, Block, Inc., and Insight Partners, further fuels Flip's expansion. The company has been building upon the success of its core P2P transfer platform to become a comprehensive fintech provider offering a wide range of financial services, including bill payments, financing and international remittances along with tailored solutions for businesses.

About Flip Group

Founded in 2015, Flip Group is Indonesia's leading fintech group, dedicated to helping individuals and businesses save time and money through fair and accessible financial solutions. Flip Group started with a revolutionary fee-free interbank transfer product and has since expanded its offerings to include a comprehensive suite of services. This suite includes Flip consumer app, Flip for Business, a platform for business financial management; Flip Globe, providing international money transfers; and a wide range of consumer services, such as bill payments, financing and investment products. Backed by investors such as Tencent, Block, Inc., and Insight Partners, Flip.id is committed to democratizing financial services through innovative technology.

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