SkyCredit Group, an Australian fintech startup, has received the assistance of Katalis to investigate entering the Indonesian market for electric motorcycles. Using their technology advantages, SkyCredit Group and the collaboration would analyse the developing electric two-wheel transportation market segment in Indonesia and find business prospects.
"The market for electric two-wheelers in Indonesia is certainly a game changer in the transition towards the country's transport decarbonisation. Despite the growing demand, however, financing options remain limited for the unbanked or underbanked population in Indonesia. With Katalis support, our value proposition would make electric two-wheelers more accessible, and in the long run contribute to a sustainable urban mobility system," said Paul Walshe, Managing Director, SkyCredit.
The Perth-based SkyCredit makes a credible partner for engaging in an emerging market like Indonesia because it is known for its "digital first" financial services that provide online direct-to-consumer credit focused on the near-prime risk segment of the Australian market. The company seeks to enable credit sales of electric motorcycles and lower the entry barrier for middle-to-low-income customers by offering affordable payment plans.
"Through Katalis support for the innovative fintech solutions offered by SkyCredit, we seek to encourage wider adoption of electric motorcycles in Indonesia, in line with the government's vision of making electric vehicles more accessible to a broader market and meeting the decarbonisation goal," said Paul Bartlett, Director, Katalis.
The government has set a goal of putting two million electric motorcycles on the roads by 2025, which will cause the Indonesian electric two-wheeler market, which is now among the largest in the world, to expand even faster.