Telkomsel Introduces New Investment Arm, Prepare 576 Billion Rupiah for Startup Funding

Telkomsel announces a new sub unit called TMI (Telkomsel Mitra Inovasi) in charge of the company’s funding management and business synergy. A $40 million (around 576 billion Rupiah) is ready to be poured on some Indonesia’s startups. In this investment, Telkomsel partners with MDI Ventures and Singtel Innov8.

Funding will be focused on startup in big data, IoT, and entertainment (music, game, and video). They expect this to increase corporate awareness in the developing digital business ecosystem.

Telkomsel, being known as connectivity and telecommunication company, had initiative to create a new business model. In terms of concept, it was already made three years ago.

Telkomsel’s President Director, Ririek Adriansyah said, “Through TMI, Telkomsel aims to create an engagement model that is more flexible, responsive, and reliable for startups seeking access to strategic investment, meanwhile making a better user experience with a sustainable symbiotic alliance.

As an investment arm of Telkom Group, MDI Ventures is to play role as the Fund Manager, and focus to share insight with Telkomsel in running TMI.

In the official release, Nicko Widjaja as MDI Ventures CEO said, “In three years, we’ve grown as an experimental CVC (Corporate Venture Capital) to a reinforcement agent for Telkom Indonesia [..] We’re very much into this collaboration with TMI and can’t wait to work in various sector of digital telecommunication.”

In terms of the first year’s timeline, Widjaja admitted to have some startups in mind for the portfolio. The target is to invest in ten or more early stage startups.

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Original article is in Indonesian, translated by Kristin Siagian

Telkomsel Bentuk Unit Investasi Baru, Siapkan 576 Miliar Rupiah untuk Pendanaan Startup

Telkomsel mengumumkan pembentukan sub-unit investasi baru bernama TMI (Telkomsel Mitra Inovasi) yang akan bertanggung jawab atas pengelolaan dana investasi dan proses sinergi lini bisnis perusahaan. Dana sebesar $40 juta (setara dengan 576 miliar Rupiah) sudah disiapkan untuk diinvestasikan ke sejumlah startup di Indonesia. Dalam pengucuran investasi tersebut, Telkomsel bermitra dengan MDI Ventures dan Singtel Innov8.

Pendanaan akan fokus pada startup di bidang big data, IoT, serta industri hiburan (musik, game, dan video). Pihaknya berharap hal ini dapat membantu meningkatkan corporate awareness dalam ekosistem bisnis digital yang kian berkembang.

Sekian lama dikenal sebagai perusahaan konektivitas dan telekomunikasi, Telkomsel berinisiatif untuk memulai model bisnis baru. Secara konsep sebenarnya sudah dimulai sejak tiga tahun lalu.

Direktur Utama Telkomsel Ririek Adriansyah menjelaskan, “Melalui TMI, Telkomsel ingin menghadirkan engagement model yang lebih fleksibel, responsif dan dapat diandalkan bagi startup yang mencari akses ke permodalan strategis dan di saat bersamaan juga dapat menghadirkan user experience yang lebih baik dengan aliansi simbiosis yang berkelanjutan.”

Sebagai modal ventura hasil perpanjangan tangan Telkom Group, MDI Ventures akan berperan sebagai Fund Manager, serta fokus berbagi insight dengan Telkomsel dalam menjalankan TMI.

Dalam keterangan resminya, Nicko Widjaja selaku CEO dari MDI Ventures mengungkapkan, “Dalam jangka waktu tiga tahun, kami berkembang dari sebuah CVC (Corporate Venture Capital) eksperimental menjadi kendaraan pertumbuhan untuk Telkom Indonesia [..] Kami antusias dapat berkolaborasi dengan TMI untuk berpartisipasi dalam pendanaan ini dan bekerja dalam berbagai sektor telekomunikasi digital.”

Mengenai timeline di tahun pertama, Nicko mengakui pihaknya sudah mengincar beberapa startup untuk jadi portofolio. Targetnya di tahun ini adalah untuk bisa berinvestasi di lebih dari sepuluh startup tahap awal.

Strategi Hellobly Sebagai Marketplace Bisnis “Jastip”

Bisnis jasa titip atau jastip kini semakin digemari para maniak belanja di Indonesia. Hal ini menjadi salah satu latar belakang terciptanya Hellobly, sebuah platform marketplace online yang mengakomodasi para pemain jastip dalam satu ruang.

Berawal dari lima individu dengan kapasitas di bidang masing-masing, tercetus ide untuk membuat sesuatu yang bisa menciptakan lapangan pekerjaan baru dan menghasilkan bagi semua yang terlibat. Melalui observasi pasar, mereka berhasil melihat animo masyarakat untuk berbelanja namun memiliki keterbatasan sehingga lebih memilih untuk “menitip”.

Selain jarak dan waktu tempuh, tim Hellobly juga menemukan alasan lain yang memicu konsumen untuk menggunakan jastip yakni pengalaman konsultasi yang ditawarkan, pemberitahuan rekomendasi pribadi, serta sebagai salah satu cara baru dalam bertransaksi online.

Hellobly telah tersedia di platform Android sejak awal 2019 dan akan meluncurkan versi iOS di bulan Juni. Ada berbagai macam produk yang bisa dititip, mulai dari buku, fesyen, kecantikan, dan lainnya. Jangkauan transaksi juga sangat luas, meliputi Indonesia, Malaysia, Jepang, US, Eropa dan banyak lagi sesuai dengan permintaan atau penawaran pengguna.

Fitur yang tengah dikembangkan adalah Live Shopping, yang diharapkan bisa memudahkan aktivitas jastip dan konsumen.

Sebagai salah satu marketplace dengan model bisnis yang tergolong baru, Hellobly mengakui bahwa tantangan terbesar mereka adalah untuk mengubah habit. Selama setahun menjalani bisnis, mereka bisa melihat bahwa masih banyak konsumen atau pemain jastip yang membuat kesepakatan di dalam platform, namun melakukan transaksi di luar platform. Hal ini menciptakan gap pada konversi yang kemudian menahan mereka untuk melakukan monetisasi.

“Karena kita baru meluncurkan aplikasi dan aktivasi di tahun ini, kita ingin mendapatkan full cycle dari ekosistem ini. Jadi kita belum berencana untuk monetize, mungkin sampai akhir tahun ini.” ujar Co-Founder dan CEO Hellobly Didit Setiadi.

Memasuki pembahasan tentang regulasi, Didit mengakui bahwa dalam membangun ekosistem ini, mereka membutuhkan dukungan dari semua pihak, termasuk pemerintah. Instansi yang paling dekat dengan industri ini adalah Bea Cukai. Saat ini pihaknya sedang mengatur rencana untuk mengumpulkan semua yang terlibat dalam industri, lalu berdiskusi mengenai regulasi.

“Intinya, pemerintah tahu ada aktivitas jastip. Target kami ke depannya adalah untuk mendapat dukungan dari pemerintah” ujar Didit.

Dari sisi pendanaan, Tim Hellobly mengaku masih berjalan secara bootstrap. Namun mereka sudah mengatur rencana untuk sumber pendapatan, yang paling praktis saat ini adalah mulai menetapkan biaya per transaksi dalam platform. Di akhir bulan ini, mereka juga akan menerapkan sistem pembayaran melalui platform untuk keamanan yang lebih terjamin.

Ketika disinggung mengenai target, Didit menegaskan, “Target kita bukan waktu, tapi growth. Kalau dilihat dari jumlah transaksi, konversi masih sekitar 10-15% dari total instalasi. Kita akan mulai preview kalau sudah mencapai 20-50 %.”

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Doogether Announces Seed Funding Led by Gobi Agung

The platform for fitness center booking Doogether announces seed funding led by Gobi Agung, supported by Everhaus, Prasetia Dwidharma, and Cana Asia at undisclosed value. Previously, the company has received funding from some investors including Erick Thohir (Head of MAHAKA Group) and Alexander Rusli (Former CEO of Indosat Ooredoo and Founder of Digiasia Bios).

DOOgether will use the fresh funding to achieve three main objectives, expanding network of fitness classes, developing app, and recruiting talents.

In the official release, Gobi Agung’s Venture Partner, Arya Masagung said, “If we do reflect to the world trend, when a country is getting through modernization and economy growth, the healthy lifestyle will be one of the most developing sectors.”

In Indonesia, practically, there is no local competitor with the same market as Doogether. The closest one is ClassPass which has acquired the regional player, Guava Pass, last year.

Aside from Jabodetabek, Doogether is now available in Bandung and Bali with total user reaching 20 thousand.

“As a special app for Indonesia’s population, Doogether ensures to provide a platform that is perfectly match our consumer’s demand,” Doogether’s CEO, Fauzan Gani said.

Three year business operation

Entering the third year, Doogether claims a rapid growth with validated market. The company is said to have grown 200% in a year.

To DailySocial, Gani explained, “This product was made organic with 200% year-to-year growth. Imagine if we had investors and to spend in marketing, how much we’ll grow.”

In terms of product, Doogether has vision to get to know user by giving various options. The latest is Dooaccess, to allow basic user to enjoy the service with only Rp100 thousand per month.

Currently, the platform with a campaign “Olahraga Tanpa Batas” has partnered up with venues from all kinds of sports, such as football, basketball, athletic, wall climbing, and gym. There are more than 200 locations, offering 19 thousand classes for those who want to have long-term investment in their body.

Tightening position in the industry

In 2016, there are 25 fitness center in Jakarta, and now 100, only in the Southern. Starts from there, Doogether intends to change how the business work by providing SaaS (System as a Service) to facilitate them in getting user’s data.

“We’ll expand the network and gather at least 500 fitness center, and develop the platform to be the biggest healthy lifestyle community in Indonesia,” he added.

In an effort to acquire user, the company also formed up with some players in the ecosystem, such as F&B for additional value when booking through the app. It also impactful to boost up the fitness center popularity and create opportunity for collaboration with other parties.

Helmy Rianda, Doogether’s COO said, “We’re in a collaboration process for employee benefit for companies. Therefore, we’re available not only for those who want to workout,also for companies to concern more on the current health campaign.”

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Original article is in Indonesian, translated by Kristin Siagian

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JakMall Bertahan di Tengah Kompetisi Marketplace yang Memanas

JakMall bukanlah nama baru di industri e-commerce. Telah beroperasi dan bertahan selama hampir tiga tahun, ia mencoba menawarkan hal yang berbeda di tengah-tengah persaingan marketplace besar yang begitu ketat.

Dengan tagline “Lebih Murah, Langsung dari Pusatnya”, fokus JakMall adalah memberikan satu harga informasi dari pelapak terpilih untuk setiap jenis barang dengan konsep best deal. Selain itu platform juga membuka kesempatan bagi para reseller yang mau mengambil barang dari lapak yang ada di platform ini. Reseller ini juga disebut affiliate. Tidak ada biaya tambahan bagi penjual, namun pihaknya menerapkan komisi per transaksi untuk program ini.

“JakMall ini muncul pertama kali karena kita punya visi untuk memberikan pengalaman belanja terbaik. [..] Kami tidak mau ada penjual yang menaikkan harga karena membuka lapak di platform ini. Karena itu kami melakukan seleksi ketat bagi para pelapak untuk menyediakan produk-produk dengan harga terbaik mereka,” ungkap Co-Founder dan CMO JakMall Reza Aggi Prasetyo.

Di akhir tahun lalu, JakMall merilis aplikasi berbasis Android dan iOS. Untuk mengkurasi pelapak, JakMall mewajibkan seleksi ketat, termasuk penyertaan NPWP dan SIUP.

“Kita punya kelebihan pada reseller yang banyak. Bahkan pada Harbolnas kemarin omset tembus 75% dari reseller. Namun dari sisi pengguna, nama JakMall seringkali tertutup oleh banyaknya reseller yang juga menawarkan harga kompetitif,” jelasnya.

Diawali dengan 20 orang personel, kini perusahaan telah memiliki 70 orang pegawai dan memiliki jangkauan basis konsumen hingga Surabaya, Bandung, Medan, Palembang, Makassar, dan NTT.

Fokus pada affiliate tahun ini

Selama dua tahun pertama, JakMall fokus pada pada pemeliharaan pengguna dan penjual. Di tahun ketiga ini, mereka ingin memberikan nilai tambah bagi para reseller atau affiliate. Jumlahnya kini berkembang pesat melebihi seller yang membuka lapak di marketplace itu sendiri.

Bermodalkan pendanaan awal dari angel investor yang tidak disebutkan jumlahnya, Jakmall kini telah mendulang profit dan sudah bisa menjalankan operasional bisnis secara mandiri. Dua segmen yang paling banyak menyumbang profit adalah komisi pengiriman dan affiliate.

Ketika disinggung mengenai penggalangan dana, Reza mengungkapkan, “Untuk fundraising, kita tidak menutup kemungkinan. Saya sudah sempat ngobrol dengan beberapa pihak, tetapi belum ada yang cocok. Karena kita mau cari bukan yang hanya sekedar kasih dana, tetapi juga satu visi.”

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Doogether Umumkan Perolehan Dana Awal, Dipimpin Gobi Agung

Platform pemesanan pusat kebugaran Doogether mengumumkan perolehan dana awal yang dipimpin Gobi Agung dan didukung Everhaus, Prasetia Dwidharma, dan Cana Asia dalam jumlah yang tidak disebutkan. Sebelumnya, perusahaan telah mendapatkan pendanaan dari sejumlah investor, seperti Erick Thohir (Pemimpin MAHAKA Group) dan Alexander Rusli (Mantan CEO Indosat Ooredoo dan Founder Digiasia Bios).

DOOgether akan memfokuskan dana segar ini untuk mencapai tiga tujuan utama, yakni memperluas jaringan kelas olahraga, mengembangkan aplikasi, dan merekrut talenta profesional.

Dalam keterangan resminya, Venture Partner Gobi Agung Arya Masagung menyatakan “Jika berkaca pada tren dunia, ketika sebuah negara melalui masa modernisasi dan kemajuan ekonomi, gaya hidup sehat dan bugar akan menjadi salah satu sektor terbesar yang ikut tumbuh.”

Di Indonesia praktis tidak ada pesaing lokal yang memiliki pangsa pasar serupa Doogether. Satu-satunya pesaing terdekat adalah ClassPass yang baru saja mengakuisisi pemain regional Guava Pass awal tahun ini.

Selain Jabodetabek, Doogether kini juga telah hadir di Bandung dan Bali, dengan total pengguna mencapai 20 ribu.

“Sebagai aplikasi yang secara khusus hadir untuk masyarakat Indonesia, Doogether yakin dapat menghadirkan platform yang benar-benar sesuai dengan kebutuhan konsumen kami,” ujar CEO Doogether Fauzan Gani.

Pencapaian selama tiga tahun

Memasuki tahun ketiga, Doogether mengklaim perkembangan pesat dengan pangsa pasar yang sudah tervalidasi. Perusahaan menyatakan telah mencapai pertumbuhan 200% dalam setahun.

Kepada DailySocial, Fauzan mengatakan, “Produk ini kita buat semua organik dengan year-to-year growth 200%. Bayangkan kalau ada yang invest dan kita bisa spend di marketing, seberapa besar kita akan tumbuh.”

Secara produk, Doogether memiliki visi lebih memahami user dengan memberikan pilihan untuk berbagai varian level. Produk terbaru yang diluncurkan adalah Dooaccess, memudahkan pengguna pemula mencoba layanan ini dengan biaya Rp100 ribu tiap bulan.

Saat ini, platform yang mengangkat semangat “Olahraga Tanpa Batas” ini telah bekerja sama dengan banyak venue dari berbagai bidang olahraga, seperti sepak bola, bola basket, lari, wall climbing, dan tempat gym. Terdapat lebih dari 200 tempat olahraga yang menawarkan sekitar 19 ribu kelas bagi para pengguna yang ingin berinvestasi jangka panjang pada tubuh mereka.

Memperkuat posisi di industri

Di tahun 2016, tempat olahraga di Jakarta hanya ada 25, sekarang sudah berkembang menjadi 100 lokasi di Jakarta Selatan saja. Berangkat dari situ, Doogether ingin mengubah cara kerja bisnis di tempat-tempat olahraga tersebut dengan menawarkan layanan SaaS (System as a Service) agar mereka bisa mendapatkan data dari setiap pengguna yang datang.

“Kami akan memperluas jaringan dan menggandeng setidaknya 500 tempat olahraga serta melakukan pengembangan pada platform untuk menjadi biggest healthy lifestyle community di Indonesia,” ungkap Fauzan.

Dalam upaya menggaet user, perusahaan juga bekerja sama dengan sejumlah pemain di dalam ekosistem, contohnya industri F&B untuk memberikan nilai tambah pada saat pengguna memesan tempat melalui aplikasi. Hal ini juga berdampak dalam memaksimalkan profit tempat olahraga dan membuka peluang banyak pihak untuk ikut berkolaborasi.

Di tahun 2019 ini, DOOgether mengaku akan fokus untuk membangun pilar-pilar ekosistem mereka, tidak hanya di tempat olahraga. Selain itu, mereka mulai menyasar perusahaan-perusahaan yang kian peduli dengan gaya hidup karyawannya, salah satunya menganjurkan berolahraga dengan menginstalasi aplikasi pemesanan tempat olahraga.

COO Doogether Helmy Rianda menegaskan, “Kita sedang dalam proses kolaborasi untuk employee benefit di perusahaan. Jadi, kami hadir bukan hanya untuk orang-orang yang ingin berolahraga, juga untuk perusahaan bisa lebih peduli dengan kampanye kesehatan yang ada saat ini.”

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Gojek Claims Performance “Milestone”, Transaction Exceeds 127 Trillion Rupiah in 2018

Gojek’s Founder and CEO, Nadiem Makariem said the gross transaction value (GTV) has increased by 13.5 times up from 2016 to 2018. In terms of nominal, it has exceeded $9 billion (around Rp127 trillion) in 2018 and reached two billion transaction a year in total.

Gojek has now acquired 1.7 million drivers, around 400 merchants, and more than 60 thousand service providers in Southeast Asia. The app has been downloaded over 142 million times.

According to the three researches Makariem has mentioned, the Financial Times Confidential (2018), DailySocial and Jakpat (2018), and YouGov (2019), the entire report stated Go-Pay as the number one payment method in Indonesia.

“9 billion dollar for gross transaction has outperformed the competitor, although we just started expanding abroad. [..] Go-Pay, according to the three research institution, is top of the list. Soory to clarify, what really matter is the impact. A real work rather than show off,” he said yesterday (4/11).

Two of Gojek’s main businesses, Go-Food and Go-Pay performance are also revealed. Go-Food is the largest service in Southeast Asia and at the third position in the world.

Go-Food’s Chief Commercial Expansion, Catherine Hindra Sutjahyo said, Go-Food has win over Go-Ride as transportation service. Go-Food is said to develop four times bigger than GrabFood.

The number of its order has reached 30 million per month in Southeast Asia, increased by 7 times from December 2016 to December 2018. 80% of Go-Food’s orders aren’t coming of big merchants, but SMEs. Delivery time in average is 27 minutes.

“Go-Food Merchants has reached more than 300 thousand, 125 thousand in April last year. It’s countable, the monthly growth,” she said.

Aldi Haryopratomo, Go-Pay’s CEO added, since walking out from Go-Jek’s ecosystem, the rate has gone up 25 times since the first time it was introduced. It encourages Go-Pay as the most popular e-money service in Indonesia according to three different research institutions.

Go-Pay is now partnered up with 28 financial institutions, accepted by more than hundred thousands merchants in 370 cities in Indonesia.Go-Pay infrastructure is supported by various services, including Spots – an online multifuction cashier app.

Spots can receive Go-Food’s orders, Go-Pay’s payment, print the bill, and create daily report of various kinds of payment methods. Midtrans payment gateway also support online merchants to receive payment from many kinds of financial institutions.

Declare an “open war”

Makariem implisitly quipped, and questioned Grab’s claim of many issues. For example, Grab‘s market penetration in Indonesia, and super app.

He claims Gojek as the first super app in the world. Not only one app, there are three apps has been developed. Those are Gojek end user app for transaction, Go-Biz (rebranding from Go-Resto) for SMEs merchants, and Gojek Driver for the drivers.

“We have the first super app in the world consists of big pillars, each to be explored further. Those are human transportation, logistics, payment, and fintech.”

These pillars, he added, are proof that local concept can gain benefit, not only Indonesia, but also for all around Southeast Asia. Whereas, Gojek has just ‘got out of the cage‘.

He also mentioned, the war is started from the time Gojek received US$2 million funding, while Grab has reached US$250 million. Gojek is considered as the main power due to understanding of user’s demand and aware of consumer’s opinion.

“Therefore, being the largest is important, but not the priority. What matter most is Gojek’s real impact to public. Win over Indonesia, in Southeast Asia. [..] We’re glad to accept new challenge [from Grab] that is why we always create new innovations everyday,” he added.

Another advantage is, Gojek started from two-wheeler transportation, which creates efficiency. Drivers can work all day long, picking up people, delivering package and food, also offering Go-Pay top up. He said driver’s income has outrun Grab’s.

Support from investors are essential. He claimed, everytime they did fundraising, it always going well, effective, and successful. The investors are also diversed of various classes.

Regarding decacorn status, Makariem argued that valuation is not for public information due to company’s culture.

“Our culture is not to celebrate ourselves. Let people celebrate. Valuation is important, but not everyting. What matter the most is the numbers, the impact to the country we are proud of, Indonesia,” he said.

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Original article is in Indonesian, translated by Kristin Siagian

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Sleekr Officially Forms Consolidation with Three Startups, “Rebranding” to Mekari

Sleekr, an SaaS startup for cloud-based HR solution, has announced a new name, Mekari, as the consolidation result (M&A) with Talenta, Jurnal, and Klikpajak. The business is expected to grow four times up along the increase of SME’s business productivity as consumers.

Suwandi Soh, Mekari’s CEO, previously was Sleekr’s CEO, said the consolidation process has started for a year gradually and supported by the investors. However, he’s yet to reveal further detail regarding investment value of the M&A series.

In Mekari’s board of directors, Jurnal’s CEO, Daniel Witono is appointed as CPO, and Anthony Kosasih, Jurnal’s COO has now become Mekari’s. Total employees after M&A has reached 360.

Quoted from Ministry of Communication and Informatics (Kemenkominfo), the SMEs that using digital technology is currently at 6.5 million from 59.2 million throughout Indonesia.

“Mekari, through this consolidation, trying to offer complete and solid soolution for SMEs. After this, we’re going to build up the low digital awareness, which is only 9%-10% (Deloitte Study) SMEs using digital access,” he mentioned, Wed (4/10).

Future Business Plan

In the first stage, Mekari is to focus on all startup services integration as one platform, in order to create more seamless customer’s experience. Everything will be executed gradually and to be finalized this year.

Furthermore, Mekari’s platform will be designed as platform-as-a-service (PaaS) integrated with the other tech startups which is capable to provide additional value to consumers.

Talenta, focused on HRIS software which facilitate business through payroll automation or Resource management. Sleekr, an intuitive modern solution of employee management for developing companies.

Meanwhile, Jurnal is a business software to make financial management and business record easier. Last, Klikpajak, the tax management app for private and business. Klikpajak was founded in the beginning of this year and supported by Indonesia’s Tax Directorate General as registered software.

“Each product has its own advantage with more innovation to develop. There are many products we intend to develop and to be released within this year. There might be one or two to be announced in Mekari Conference.”

The result is to extend consumer’s target of various business scale. Without any detailed number, Soh explained that Mekari has hundred thousands of users from thousands of companies.

Mekari’s subscription fee has varied, depends on what kind of services, starts from Rp20 thousand per person for Sleekr, up to Rp200 thousand for Jurnal’s accounting service.

Sleekr operates under MidPlaza Holdings. Last year, the company has received investment from Money Forward with undisclosed value. In 2016, Sleekr has made acquisition over SaaS startup, Kiper.

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Original article is in Indonesian, translated by Kristin Siagian

CT Corp is Reportedly to Finalize the Acquisition Over Female Daily Network

The first time it was covered by DealStreetAsia, DailySocial aware that CT Corp is to finalize the acquisition process of the women focused media, Female Daily Network. The service will work independently while the founders stay and hold the minor shares. The Co-Founder, Affi Assegaf had previously resigned from the management due to personal issue.

According to a source, Female Daily Network has been looking for strategic partners to support the company’s plans since last year, particularly to enter the related e-commerce industry.

CT Corp has Trans Media (in charge of Detikcom, CNN Indonesia, and CNBC Indonesia) and Trans Fashion (which owns such brands as Aigner, Tods, Jimmy Choo, and Furla) suitable with the vision.

The company has received a million dollar funding in 2014 from Ideosource, SMDV, and Convergence Ventures. In its journey, Female Daily Network has acquired mobile tech consultant, J-Technologies to support its product solutions.

In the previous interview with DailySocial, Hanifa Ambadar as the CEO said, “We are now having around two million users. In line with our commitment to focus on 99% beauty related information since 2014, the number is predicted to increase along the way.”

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Original article is in Indonesian, translated by Kristin Siagian

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Academic Fintech Lending Startup Dana Cita Plans to Expand to the Philippines

Dana Cita as a fintech lending focuses to facilitate academic finance reportedly to finalize its expansion to Philippines. From the flying rumor, Dana Cita will introduce new brand called “Bukas” (In Filipino means “open” or “tomorrow”). Bukas is now accessible through https://bukas.ph/.

Regarding expansion, Dana Cita’s Co-Founder Susli Lie has confirmed to DailySocial with no further detail.

This expansion run after the startup founded by Susli Lie and Naga Tan recorded great traction in Indonesia. Per March 2018, they’ve distributed funding loan up to two billion Rupiah. In terms of the current business, Dana Cita is sponsored by follow-on funding from Patamar Capital investor.

Previously, they’ve received license from OJK. Since then, the Jakarta based startup keep making talent acquisition in various ways, one is through regular socialization to the academic institutions. The loan has quite long tenor up to 72 months with 1-1.75% interest per month.

Previously, Dana Cita has formed strategic partnership with Gojek. It allows Gojek’s ecosystem to access the academic financial services of Dana Cita. Both are targeting Philippines market – although Gojek also facing obstacle post online transportation service licensing moratorium.

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Original article is in Indonesian, translated by Kristin Siagian