Indonesia revoked Investree's lending license — and accused the founder of diverting funds

Investree was one of Indonesia's pioneer peer-to-peer lending platforms — PT Investree Radhika Jaya, connecting lenders to borrowers online in a market the regulators were still building rules for. By 2024 the regulator, OJK, had worked its way up the enforcement ladder: warnings, then activity restrictions, demanding the company fix its equity, find new investors and repair performance. None of it worked.

In October 2024 OJK revoked the license outright. The stated grounds: failure to meet minimum equity requirements and other regulatory provisions, with operational difficulties and deteriorating performance underneath. The regulator's statement went further than the balance sheet — it announced legal action against key individuals including co-founder Adrian Asharyanto Gunadi, banned from holding key roles in financial institutions, with asset tracing underway.

The allegations against Gunadi, as stated by the regulator, were that he had diverted funds from Investree to a personal account and used his position to make the platform a guarantor for a personal company. The company was ordered to cease operations, settle with employees and customers, and convene a shareholders' meeting within 30 days to form a liquidation team. A platform built on the promise that strangers' money was safe with it ended with the regulator stating the opposite.