What is Fakturin
Invoice financing for Indonesian small businesses, built on verified Faktur Pajak, Chainlink and per-invoice ERC-4626 vaults.
Fakturin lets a small Indonesian supplier get paid today for an invoice its buyer will pay in 30 to 90 days. The supplier's Faktur Pajak (the tax invoice every VAT-registered business issues through Coretax) is checked with the tax system by Chainlink, locked as an NFT inside a vault made just for that invoice, and funded by several verified lenders together. The seller gets 80% of the invoice the moment the vault is full and repays the full amount on the due date.
The problem
Small suppliers wait 30 to 90 days to be paid. In Indonesia, 54% of B2B sales are on credit, the average term is 50 days and 49% of invoices are paid late (Atradius Payment Practices Barometer, 2025). Invoice financing fixes cash flow, but lenders hesitate for two reasons:
- Double financing. The same invoice can be pledged to several lenders who cannot see each other.
- Ownership. Anyone who knows an invoice number can claim to be its seller.
How Fakturin answers it
| Risk | What Fakturin does |
|---|---|
| Fake invoice | Chainlink CRE asks the tax system (through a PJAP, a licensed tax application provider) whether the Faktur Pajak exists and is valid. |
| Somebody else's invoice | The seller proves its NPWP once (KYB) with a Chainlink ACE credential. The NPWP on the Faktur Pajak must match it, or the invoice is rejected. |
| Double financing | The registry key is the national Faktur Pajak number. Once financed, that number can never be financed again, anywhere on Fakturin. |
| Anonymous money | Lenders pass KYC once (Chainlink ACE credential). Vaults only accept deposits from KYC'd wallets. |
| Seller does not repay | 20% of the invoice stays in the vault until repayment (the holdback) and goes to lenders on default; the seller is flagged and cannot submit again. |
Who does what
| Role | Uses the app? | Does |
|---|---|---|
| Borrower (seller, PKP) | Yes, /borrow | Verifies the business once, submits a Faktur Pajak, receives 80%, repays on the due date. |
| Lender (funder) | Yes, /lend | Passes KYC once, lends any amount to the invoices it picks, withdraws with a return. |
| Anyone | Yes, /check | Looks up whether a Faktur Pajak was ever financed. No wallet needed. |
| Buyer (the invoice debtor) | No | Pays the seller as usual. Fakturin is silent factoring: the buyer is not notified. |
| Verifier | Automatic | Chainlink CRE workflow (or the demo relayer) writes the tax-office result onchain. |
| Keeper | Automatic | Chainlink CRE cron (or the demo relayer) closes vaults whose deadline passed. Nobody presses "default". |
Real vs simulated
Fakturin is a hackathon MVP on Arbitrum Sepolia. The contracts and the Chainlink parts are real; the outside world is simulated and labelled as such in the app.
| Part | Status |
|---|---|
| Smart contracts (registry, vaults, NFT, keeper, renderer) | Real, verified on Arbiscan |
| Chainlink ACE identity contracts | Real (self-deployed open-source core, BUSL-1.1 non-production use) |
| Chainlink CRE workflows | Real code, run with cre workflow simulate --broadcast; DON deployment needs a commercial agreement |
| PJAP / Coretax data | Simulated API with the same JSON shape |
| KYC/KYB provider | Simulated issuer route; the onchain credentials are real |
| Rupiah | MockIDRX, a test copy of the IDRX stablecoin (2 decimals, 1 token = Rp1). Not money. |