TaniHub

TaniHub was an Indonesian agritech startup founded in 2015 that connected farmers with businesses and consumers through e-commerce, logistics, and lending services.³⁹¹⁰ The company raised $95 million in funding and reached a valuation of $218 million, but faced high operational costs, loan defaults in its TaniFund unit, and legal troubles.⁸¹³³ TaniHub's peer-to-peer lending arm TaniFund had its license revoked in May 2024, and executives from TaniHub and its investors were charged and convicted in a corruption case.³¹²¹³

Timeline

Money raised

TaniHub raised a $10 million Series A round in May 2019.⁹ TaniHub raised a $17 million Series A+ round in April 2020 co-led by Openspace Ventures and Intudo Ventures.³ TaniHub secured a $65.5 million Series B funding round in May 2021 led by MDI Ventures.³⁹ The Series B round brought TaniHub's total raised to about $94 million.⁹

Investors named in the sources: MDI Ventures⁹¹²¹³, BRI Ventures⁹¹²¹³, Openspace Ventures³⁹, Intudo Ventures³⁹, Add Ventures⁹, Flourish Ventures⁹, Tenaya Capital⁹, UOB Venture Management⁹, Vertex Ventures⁹, Telkomsel Mitra Inovasi (TMI)⁹.

What happened

TaniHub was founded in 2015 by Miftahul Choiri, Michael J. Sugianto, and William Setiawan.³¹⁰ The company was a B2B platform that connected Indonesian farmers with businesses that use or sell their products.³ TaniHub aimed to help farmers earn more by streamlining distribution channels and eliminating middlemen.³⁹ In August 2016, Ivan Arie Sustiawan joined as a co-founder and Pamitra Wineka joined as CEO.³ TaniHub expanded into logistics through TaniSupply and financial services through TaniFund, a peer-to-peer lending platform.³⁹

By 2020, TaniHub supported over 110,000 farmers, 1,339 SMEs, and 350,000 retail customers.³ President Joko Widodo mentioned TaniHub in the 2019 presidential debate as an example of Indonesia's Industry 4.0 future.³ TaniHub raised a $10 million Series A round in May 2019.⁹ In April 2020, TaniHub raised a $17 million Series A+ round co-led by Openspace Ventures and Intudo Ventures.³ In May 2021, TaniHub secured a $65.5 million Series B funding round led by MDI Ventures.³⁹

The Series B round brought TaniHub's total raised to about $94 million.⁹ TaniHub's revenue grew 600% year-on-year in 2020 due to increased demand for online groceries during the COVID-19 pandemic.⁹ In March 2021, co-founder Ivan Arie Sustiawan quit the company, and in April 2021, CEO Pamitra Wineka quit.³ In November 2021, 130 investors in TaniFund failed to receive returns on their investments totaling Rp 14 billion.¹² TaniHub attributed the TaniFund issue to failed harvests.¹²

In February 2022, TaniHub closed two warehouses in Bandung and Bali to focus on B2B operations.¹¹² In March 2022, TaniHub closed all B2C services to focus on B2B due to high operational costs in B2C and a surge in B2B demand after the pandemic.³ In July 2022, Johnny Widodo, former CEO of OLX Indonesia, was appointed as the new CEO.³ In December 2022, TaniHub was sued for loan defaults through TaniFund, with only 36% of 90-day loans being repaid successfully.³ Johnny Widodo quit the company in December 2022.³

OJK sanctioned TaniFund and required it to settle funding in the default category and improve financial management, but TaniFund failed to meet these requirements.³ TaniFund faced allegations of potential fraud, and OJK's investigation revealed payment issues with around 128 investors totaling approximately Rp 14 billion.³ On May 3, 2024, OJK revoked TaniFund's business license.³¹²¹³ Prosecutors said TaniHub overstated its earnings to investors by at least 359 billion rupiah.¹³ An alleged former TaniHub employee claimed that financial records included unclear expenses linked to a 'special project'.¹²

Ivan Arie Setiawan, TaniHub's founder and former CEO, and former director Edison Tobing were accused of manipulating financial statements to misuse investments worth $20 million from MDI Ventures and $5 million from BRI Ventures.¹² Pamitra Wineka was not implicated in the case; he was appointed as an independent commissioner at MIND ID in 2024 before being dismissed in 2025.¹² On July 28, 2025, prosecutors named three suspects: DSW, Director of MDI Ventures; IAS, former TaniHub CEO; and ETPLT, former TaniHub Director.¹⁶ On September 3, 2025, three additional suspects were detained: NW, CEO of BRI Ventures; WG, former VP of Investment at BRI Ventures; and AAH, VP of Investment at MDI Ventures.¹⁶ On May 21, 2026, prosecutors demanded prison sentences of 9 to 12 years for the defendants.¹⁷¹⁸

On June 18, 2026, the Jakarta Corruption Court sentenced Ivan Arie Sustiawan to 9 years and Edison Tobing to 7 years in prison for causing state losses amounting to US$25 million.¹³ The same court sentenced Donald Wihardja to 5 years, Aldi Adrian Hartanto to 2 years, Nicko Widjaja to 3 years, and William Gozali to 2 years.¹³ The court found that the defendants agreed to invest without an independent audit and without being cautious.¹³ William Gozali immediately lodged an appeal, while the other five defendants were contemplating a similar move.¹³ Industry insiders warned that the ruling could make venture capital firms more conservative and risk-averse.¹³

The main TaniHub website was still online as of July 2024, but the state of the business was unclear.³

Legal outcomes

• filedIn December 2022, TaniHub was sued for loan defaults through TaniFund.³
• settledOJK sanctioned TaniFund and required it to settle funding in the default category.³
• chargedOn July 28, 2025, prosecutors named three suspects in the TaniHub corruption case.¹⁶
• chargedOn September 3, 2025, three additional suspects were detained.¹⁶
• chargedOn May 21, 2026, prosecutors demanded prison sentences of 9 to 12 years for the defendants.¹⁷¹⁸
• convictedOn June 18, 2026, the Jakarta Corruption Court convicted Ivan Arie Sustiawan, Edison Tobing, Donald Wihardja, Aldi Adrian Hartanto, Nicko Widjaja, and William Gozali.¹³
• pendingWilliam Gozali lodged an appeal against his conviction.¹³

Where the founders are now

Pamitra Wineka was appointed as an independent commissioner at MIND ID in 2024 before being dismissed in 2025.¹² Ivan Arie Sustiawan was sentenced to 9 years in prison in June 2026.¹³

Lessons, as others put them

"Focus on what you’re good at"The Runway Ventures³

"Don’t be a jack of all trades"The Runway Ventures³

Sources

1. Tech in Asia - Connecting Asia's startup ecosystem, techinasia.com, Feb 28, 20
3. TaniHub: The Agritech Giant's Shocking Collapse in Indonesia, The Runway Ventures, Jul 21, 20
8. Startup Intros - Founder-Investor Matching Intelligence, Startup Intros, Jul 13, 20
9. Indonesian agritech platform TaniHub Group harvests a $65.5M Series B round | TechCrunch, TechCrunch, 2021-05-21
10. TaniHub — investors & funding | gritt.io, gritt.io
12. Charges in TaniHub case sparks concern among venture capital players, windonesia.com, Jun 2, 202
13. Why Indonesia court verdict on failed startup investment is worrying its venture capitalists, CNA, Jun 25, 20
16. Prosecutors name three new suspects in TaniHub graft, money laundering case, https://indonesiabusinesspost.com/, Sep 8, 202
17. [Updated] Indonesia prosecutors seek up to 12 years' jail for TaniHub, investors in graft case, DealStreetAsia, May 22, 20
18. TaniHub, Kompas.id, 2026-06-04

How this case file was put together

Every statement on this page carries a numbered note, and every note points to a court record, a regulatory filing or a named publication in the list of sources. Each statement was checked against the text of the sources it cites before it was published: a figure, a date or a name the cited source does not contain was cut rather than kept. Allegations are shown as allegations, with their status at the time of the source (filed, charged, convicted, pleaded, settled, dismissed or pending). Quoted lessons are the words of the person or publication named with them, copied from the cited source; nothing here is our own opinion of why the company failed.

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