OJK Revokes Crowde's Business License, Mandates Remedial Actions

Regulatory Action Against Fintech Lender

The Financial Services Authority (OJK) has revoked the business license of PT Crowde Membangun Bangsa, a peer-to-peer (P2P) lending platform, effective November 6, 2025. The decision, based on the OJK Board of Commissioners' Decision No. KEP-68/D.06/2025, was prompted by the company's failure to meet minimum capital requirements and other regulatory violations as outlined in OJK Regulation No. 40/2024 concerning Technology-Based Collective Funding Services (LPBBTI).

Reasons for License Revocation

The revocation was primarily due to Crowde's violation of regulatory requirements, including minimum equity capital and other provisions. M. Ismail Riyadi, Head of the OJK's Department of Financial Literacy, Inclusion, and Communication, stated that the deteriorating company performance affecting its operations and services to the public was another critical factor. The regulator had previously issued administrative sanctions, including warnings and business activity freezes, before ultimately deciding to revoke the license.

Regulatory Oversight and Enforcement

OJK's actions demonstrate its commitment to maintaining a healthy financial services industry, particularly among fintech P2P lending operators. The regulator had been monitoring Crowde's performance closely, with records showing ongoing efforts to address compliance issues as early as May 2025. Despite these efforts, the company failed to meet the required standards, leading to the final decision to revoke its operating license.

Implications for Fintech Sector

This regulatory action sends a strong message to other P2P lending platforms about the importance of compliance with OJK regulations. The fintech lending sector is expected to face increased scrutiny as regulators continue to enforce strict governance and risk management practices. Companies operating in this space must prioritize regulatory compliance to maintain their licenses and public trust.