Ledgerowl has secured a strategic funding round led by Skystar Capital and Incubate Fund Asia, while the Indonesian police agency name three executives from P2P lender Dana Syariah Indonesia (DSI) as suspects in an alleged fraud.
Ledgerowl receives strategic funding
Indonesia-based AI-driven accounting automation platform Ledgerowl has secured a strategic funding round led by Skystar Capital and Incubate Fund Asia, as the company prepares to deepen its footprint in the Australian market.
The size of the deal, which was announced on Wednesday, was not disclosed. However, the capital will be used to support product development and go-to-market efforts as demand for scalable financial operations tools grows among accounting firms and finance teams.
Founded by Australian-Indonesian entrepreneurs Rey Kamal and Adrian Yasin, Ledgerowl combines automation software with professional accounting expertise to simplify high-volume transaction processing, reconciliation, and month-end close workflows. The platform is designed to shorten processes that traditionally take days into minutes while maintaining audit-level accuracy, executives said.
Ledgerowl has reported rapid growth since its inception, processing more than 1 million transactions annually across reconciliation products alone and cutting monthly close cycles by as much as 74% for some clients. Early clients span industries including food and beverage, retail, and property.
“What sets Ledgerowl apart is their operational discipline,” said Abraham Hidayat, managing partner at Skystar Capital, adding that the firm’s combination of domain understanding and managed services creates a scalable solution with quality controls that traditional outsourcing models struggle to match.
Three DSI execs named as suspects in alleged fraud
The Indonesian police have officially named three senior executives of fintech P2P lending firm Dana Syariah Indonesia (DSI) as suspects in a high-profile case involving alleged fraud, misappropriation of public funds, and money laundering, authorities said on Friday.
The Indonesian National Police’s Criminal Investigation Agency (Bareskrim Polri) said the trio were designated suspects following preliminary investigations into the company’s handling of lender funds. The suspects include the firm’s president director and majority shareholder (identified by the initials TA), a former director and shareholder also linked to related property companies (MY), and a commissioner who is also a shareholder (ARL).
Investigators allege the executives were involved in a range of criminal conduct tied to the distribution of public funds on the platform, including embezzlement, fraud through electronic media, falsification of financial records and money laundering. Police say these activities centred on raising capital from lenders against so-called “projects” that were either fictitious or misrepresented.
As part of procedural measures, the agency has requested travel bans for the suspects through Indonesia’s Directorate General of Immigration to prevent them from leaving the country during the ongoing probe. Investigators have also summoned the executives for further questioning scheduled for early next week.
The case stems from a broader law-enforcement and regulatory scrutiny that began in late 2025, when the OJK reported the fintech lender to police amid growing concerns over delayed withdrawals by lenders and possible irregularities in project listings and fund allocation. Earlier police and regulator statements said that OJK escalated its oversight of Dana Syariah Indonesia to “special supervision” and involved the financial intelligence unit in tracing transaction flows.
Regulatory filings and investigations have indicated that the firm’s business model relied heavily on raising capital from retail lenders for projects that, in many cases, appeared to lack verifiable underlying assets or economic substance. Law enforcement sources and public filings suggest that some of the funds were redirected to affiliate entities or for undisclosed uses rather than being deployed as originally represented to lenders.
Police say the investigation remains active, with further asset tracing and forensic accounting expected as part of efforts to quantify financial harm and pursue recovery actions on behalf of lenders.
