POS Startup Olsera Bags 35.8 Billion Rupiah Seed Funding from Kejora-SBI Orbit Fund

The Point-of-sales (POS) platform, Olsera, announced a seed funding today (1/7) worth of $2.5 million or equivalent to 35.8 billion Rupiah from Kejora-SBI Orbit Fund — a joint managed fund between Kejora Capital (Indonesia) and SBI Holdings (Japan).

Using this fresh fund, Olsera will continue to strengthen its technology infrastructure, recruit more talent, and help digitize the MSME business players in more than 200 other cities in Indonesia.

Founded in 2014, Olsera is said to have served more than 10,000 MSMEs in 300 cities in Indonesia to digitize their business. The Olser’s POS solution is not only limited to recording transactions, users are also assisted with ERP features which include inventory management, accounting, marketing, personnel, services, and other functions.

“As fellow entrepreneurs, we understand very well that building and maintaining a business in this current situation is not an easy matter. Since 2015, we ourselves have continued to learn and focus on one thing, how Olsera can help other entrepreneurs to grow bigger by implementing technology to simplify business management,” Olsera’s Co-founder & CEO, Novendy Chen said.

Product variants as value proposition

In terms of developing POS services, Olsera directly competes with many players. Some of those are Moka, Qasir, majoo, Pawoon, Youtap, iSeller, and several others. Therefore, it is important for each player to focus on emphasizing its value proposition.

For Olsera, product innovation is the key to providing added value to its users. In 2020, the company launched the Zenwel service to make it easier for business players in the service sector to manage online reservations. Recently, they introduced the Olsera Store e-commerce enabler to help MSMEs manage online sales.

“During the pandemic, we observe some MSMEs are negatively affected by sales as they’re doing offline businesses. We launched Olsera Store for offline businesses can shift into online, therefore, they can continue run the business,” Olsera’s Co-founder & CTO, Ali Tjin said.

Ali continued, “At the same time, business players in the service sector suffer losses related to the implementation of social distancing. We wanted to help them, in order for Zenwel to grow. Specifically designed for the service business, Zenwel is equipped with calendar scheduling features, online reservations, CRM and loyalty programs to support their customer acquisition and retention.”

Tight competition in POS market

The global POS market size has reached $10.39 billion in 2021, projected to grow 9.5% from 2021 to 2028. This is indeed a very large market. In Indonesia alone, MSME ecosystem channels quite a big potential and becomes an important component in the national economy.

Kemenkop UKM data shows that around 64.2 million MSMEs have contributed to the country’s economy by 61.07 percent or Rp. 8,573.89 trillion. The government has set an ambitious target to bring 30 million MSMEs into the digital economy by 2024. As of September 2021, the Indonesian E-Commerce Association (idEA) recorder around 16.4 million (25%) had entered the digital ecosystem; almost doubled during the pandemic.

This potential encourages innovators to present the most relevant POS services, especially in the MSME segment. In our observation, some POS players have also received support from investors, even two of them have exited through acquisitions and IPOs, below is the list:

Platform	Latest Funding	Details
Moka	AcquiredA	Acquired by Gojek at $130 million
Qasir	Series A	Undisclosed
Majoo	Seed Funding	Collecting $8,5 juta in total from two seed round
Pawoon	Series A	30% shares acquired by DIVA
Youtap	–	It’s a joint ventures of Salim Group and Youtap Global
iSeller	Pre-Series B	$8 million
Cashlez	IPO	The market cap has reached Rp354,92 billion
Olsera	Seed Funding	$2,5 million

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Original article is in Indonesian, translated by Kristin Siagian

Application Information Will Show Up Here

Power Commerce Asia Receives Series A Funding, Expanding Business to Malaysia

The ERP solution provider startup, Power Commerce Asia, announced series A funding with an undisclosed amount from PT Interport Mandiri Utama, a subsidiary of PT Indika Energy, and a logistics and courier company, PT SAP Express. The fresh money will be used to expand to Malaysia to serve global brand partners in serving its customers in the country.

After this investment, Interport’s directors, including Yukki Nugrahawan Hanafi and Alif Sasetyo with SAP Express’ President Director, Budiyanto Darmastono, are now part of the Board of Commissioners at Power Commerce Asia.

On this occasion, he officially announced the launching of Power Commerce after running in stealth mode since its operations began three years ago. Starting this year, the company will significantly scale its business using the latest investment round.

The Power Commerce Asia’s Founder & CEO, Hadi Kuncoro said that the team is now focused on building the company’s fundamentals in the form of omni-channel ERP and supply chain solutions for the business ecosystem. Thus, Power Commerce Asia can become a sustainable company.

“We did not build an app, but a tech company that is building a digital ecosystem for industry. We have B2B users, from brands, manufacturers, brand owners, global brands and SMEs. Conceptually, we want to build an omni-channel e-commerce and supply chain solution, therefore, brands can sell through any platform and integrated in real-time,” Hadi explained at a press conference yesterday (1/6).

The investment, he continued, was not solely for the money but also strategic partnerships with investors. It is known that Interport has an extensive network in handling cross-border transactions, while SAP Express has a warehousing and procurement network throughout Indonesia.

Power Commerce will optimally utilized these assets to expand its business, targeting growth up to seven times this year. “Our vision is not only applicable in Indonesia, we are trying to build something to solve problems in the global market. Therefore, we will enter the regional market in the near future.”

The company will explore the SME segment in order to experience omni-channel and supply chain solutions. The solution is planned to be available in the middle of this year as an SaaS concept with a subscription model. Hadi said, the subscription model is considered more effective to capture the SME market as it doesn’t require them to pay for long term.

Solutions

Power Commerce Asia provides an end-to-end solution that includes e-commerce marketplace enabler, technology development, warehouse management, shipping management & delivery service, digital marketing, payment management, and omni-channel ERP system management. Power Commerce Asia’s omni-channel technology ensures all brands to take advantage of all existing sales channels, both offline and online.

Within three years of operation, Power Commerce Asia claims to have grown significantly up to 132 times. It began with the start-up phase, smart-up company, and has now turned into a scale-up company. The positive growth in late 2021 is indicated by some metrics, including the total transaction that increased by 28 times, the average monthly transaction grew by 28 times, the Net Revenue (NMV) increased by 22 times, and the average monthly sales grew by 12 times. The previous percentages aren’t followed with detailed numbers.

The company has collaborated with several local and global brands from various industries in managing e-commerce sales channels. The partners include Soho Global (Imboost, Curcuma, Diapet), Menarini (Dermatix, Transpulmin), Kino Indonesia, Galeri24, Mamasuka, Combiphar, Twinings, Ovaltine, Probalance, Prodiet, Evalube, Dompet Dhuafa and many others.

In the future, the company will expand ERP solutions not only for finished products, but also for raw materials that can be integrated in a real-time system from upstream to downstream. This will certainly make it easier for manufacturers to monitor the work flow to be more efficient.

Hadi is optimistic with the well-developed business fundamentals to lead the company achieving sustainability and accelerate the IPO in 2025. “In 2025 our mission is to enter the ASEAN market, and conduct an IPO for the exit plan,” he said.

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Original article is in Indonesian, translated by Kristin Siagian

VCGamers Secures 37.3 Billion Rupiah Funding, Introducing Social Commerce and NFT for Games

VCGamers is a social commerce platform for gamers. The company recently announced to reach a $20 million valuation or equivalent to 287.4 billion Rupiah. Previously, in mid-2021, VCGamers has secured a $2.6 million seed funding or equivalent to 37.3 billion Rupiah, led by BEENEXT and Rans Ventures – the venture capital unit owned by celebrities Raffi Ahmad and Nagita Slavina.

A number of angel investors participated in the funding, including Ari Fadyl (Google APAC’s executive) and Jerry Soer (VP of Collab Asia).

“VCGamers aims to become an all-in-one home and platform for gamers, and to provide economic empowerment for small businesses and entrepreneurs in the gaming ecosystem. We are fully committed to building a platform that can serve the needs of all gamers in Indonesia and the region,” the Co-Founder & CEO, Isya Sony Subrata said .

Isya founded VCGamers along with Hartanto, Ibnu Anggara, and Wafa Taftazani. Wafa recently announced his new startup Upbanx has received $5.2 million and currently participating in the Y Combinator program. He was previously known as the founder of Modal Rakyat and also an angel investor for several startups.

After the funding, VCGamers will accelerate product development, grow the business, and plan to expand into Southeast Asia. VCGamers is currently under PT Sotta Teknologi, with its headquarter in Bekasi, West Java.

Currently they offer services through a web platform. The game players can buy and sell various items/assets/currencies used in a gaming ecosystem. Developed as a hub, VCGamers allows users to connect with each other, including hosting events such as tournaments or creating an esports team.

Entering the NFT ecosystem

Furthermore, VCGamers will enter the Web3 game. Today (07/1) they will conduct a debut offering for the VCG token which will later become one of the transaction support assets in the social commerce. In addition, VCG is designed to revive the NFT gaming ecosystem, including for trading game items and assets. Its total supply reaches 100 million, operating on top of the Binance platform.

A social commerce-based approach is considered relevant to animate transactions in the gaming business.It is due to many items are obtained by individuals – and can be traded to other users. VCG can provide support for a better transaction process, especially if it succeed in penetrating the regional market – especially for cross-border transactions which is more affordable.

In the area of asset and gaming item marketplace, VCGamers is not a solo player. There is also itemku which is also Bukalapak’s subsidiary. The market value of the gaming industry in Indonesia is projected to reach 24.4 trillion Rupiah last year. It is projected to continuously increase as more mature business models are applied to the business ecosystem — particularly driven by the development of esports businesses.

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Original article is in Indonesian, translated by Kristin Siagian

Teja Ventures Closes Its First Managed Fund of 143,6 Billion Rupiah

As a venture capital with a gender lens focus, Teja Ventures announced the closing of its first funding. The managed funds total value is at $10 million or around 143.6 billion Rupiah. The money obtained by a number of family offices in Asia.

Teja Ventures’ Partner, David Soukhasing revealed to DailySocial, using this fresh fund, his team has plans to support the 18 portfolios that they currently have.

“Especially because some of them are currently experiencing business growth and in the process of finalizing a fundraising, where Teja Ventures is leading the act,” David said.

Several platforms, including Siklus, Binar, Riliv, Burgreens, Lifepack, Green Rebel, Klikdaily are startups that have been funded by Teja Ventures. Currently they are in the stage of finalizing the second funding and claim to have received investors’ support.

Teja Ventures claims to be the first venture capital to commit to investing with a gender lens in all of Asia. Countries such as China to Southeast Asia are their target markets. Meanwhile, the targeted startup categories are financial inclusion/fintech, consumption, edutech, and the new economy.

Supporting business for women

Also known as ANGIN’s Managing Director, David and his partner Virginia Tan, who is also a client of ANGIN, founded Teja Ventures. Teja Ventures targets companies with positive impact on the female demographic as consumers as part of the supply chain and as a whole as an economic driver in their business model.

Even though it claims to be a gender lens investor, this concept does not apply only to support female startup founders. It is possible for male startup founders to attract Teja Ventures’ interest, what needs to be considered is that they must understand and effectively capture female users.

“We are pleased to see that some investors are now incorporating this mindset into their investment theses and we see it will lead to more opportunities for scale, capital flows and gender impact in Indonesia,” David said.

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Original article is in Indonesian, translated by Kristin Siagian

Brankas Scores 287 Billion Rupiah Series B Funding Led by Insignia Ventures

Fintech startup for open finance solution, Brankas, announced $20 million (over 287 billion Rupiah) series B round led by Insignia Ventures Partners with participation from previous investors, Beenext and Integra Partners. Brankas will use the fresh money to expand its network, BaaS API products in six countries in Asia, and double the team of 100 people.

Furthermore, also participated in this round, Visa, AFG Partners and Treasury International, a venture capital firm led by veteran fintech founders Jeff Cruttenden of Acorns and Eli Broverman of Betterment.

Brankas is part of the Visa’s accelerator program last year. One of Visa’s ongoing innovations is the issuance of digital credit cards using Visa’s data capabilities. This solution was showcased during demo day in September 2021.

In an official statement, Samir Chaibi, Principal at Insignia Ventures Partners said, “Brankas is well equipped and well positioned to support the acceleration of the open finance industry in Southeast Asia. We are pleased to partner with a team that has world-class API-based infrastructure built for the key Southeast Asian market to serve emerging fintech players.

“We are also impressed with Brankas’ approach to market development and its ability to launch and scale the products in a regulatory compliant manner while ensuring that developers benefit from a reliable and stable source of banking and financial data and beyond,” Chaibi said, Wednesday (1/5).

Currently, the Brankas platform offers more than 10 BaaS APIs, including online bank account opening, credit assessment, identity verification, e-commerce transactions, and payment solutions for the gig economy. The startup, which was founded in 2016, has a vision to democratize access to financial data and identity for banks, traditional financial institutions, and fintech startups.

For financial institutions, the Safe API platform opens up new digital capabilities and revenue streams such as online payments, identity verification and account opening, and to extend their reach, especially for users who historically have limited access with traditional financial services.

Meanwhile, for fintech companies, the Brankas platform is a bridge for important data needs for verification or assessment processes that should take longer to develop and optimize for users. These use cases are also leveraged outside of financial services, such as e-commerce companies using the Brankas’ API to verify and secure payments on their platforms.

Across industries and use cases, Brankas offers compliant, reliable and secure systems at scale to simplify the local complexities of building and operating fintech products and services.

Brankas’ solution has been used by companies in Indonesia, the Philippines, and Thailand. In the near future, it will soon expand to Vietnam and Bangladesh through partnerships with current leading bank and fintech players.

Quoting from Techcrunch, the company’s interest in the Brankas’ BaaS API solution is growing by 30% every month. There are now more than 40 financial institutions and 100 technology companies and channel partners. Since many of the clients of fintech startups focus on the unbanked and underbanked, Brankas’ partners extend to financial providers such as remittances and e-wallets.

Brankas’ Co-Founder & CEO Todd Schweitzer said that there is a huge opportunity for the open finance industry in Southeast Asia. He said, open finance is more than just payment or banking. Brankas building the next generation of financial services infrastructure in Southeast Asia has opened up new financial product development opportunities, in a region historically dominated by established incumbents.

“Thanks to our growing network of partners and customers, we continue to deepen our understanding of this opportunity and lead the solution development to open this door for those here in Southeast Asia.”

He continued, the year 2021 was a company breakthrough as it opened up opportunities for financial institutions and companies to partner in new businesses in a way that had never been seen before for consumers in Southeast Asia.

Indonesia’s open finance

Compared to other similar players, such as Finantier and Finverse, Brankas claims to be the only company that offers a regulated payments API that allows direct bank transfers and money transfers without intermediaries, as well as API-connected cryptocurrency and e-wallet payments.

Brankas also conveyed four points related to what made him different from his competitors. First, they focus more on the “supply side” of open finance, helping financial institutions to become “API-ready”. The solutions presented help banks to deliver commercial API products in 6 weeks or less.

Second, Brankas seeks to help the government create a competitive and well-regulated open finance economy, therefore, it will be actively involved and chair the relevant associations for consultation. Third, the ongoing regional strategic partnership to bring new technologies and solutions to Indonesia; including with Visa, APIX, and Proxtera. And lastly, Brankas wants to ensure that the API aggregation presented is always reliable in terms of performance and security.

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Original article is in Indonesian, translated by Kristin Siagian

Looking Through Ajaib’s Mission to be Retail Investors’ First Choice

Within two years, Ajaib managed to become the first unicorn in investment or wealthtech in Southeast Asia. Starting the journey with mutual funds, Ajaib’s growth skyrocketed when the stock asset class was launched in mid-March 2020, it’s all due to the “birth” of many young investors amidst the pandemic.

The approach is quite different from similar players with tendency to adopt a strategy of deepening the mutual funds product range, or enriching the asset class to other instruments, such as gold or cryptocurrencies in order to introduce investment to novice investors.

In the recent Ajaib’s media gathering, it is said that the users have reached more than 1.4 million people. Around 96% of them are novice investors, with 90% coming from a young age and the rest are gen Z. Moreover, about 60% of users are actively use the platform and have stock portfolio.

Ajaib Sekuritas’ Director of Stock Brokerage, Anna Lora explained, the increasing number of users is also reflected in the total transaction volume of 30 billion per month with 5 million transactions. Before the company acquired Primasia Sekuritas (currently known as Ajaib Sekuritas) the monthly transaction value was in the range of Rp. 1 trillion-Rp 2 trillion, furthermore, the number has grown rapidly to Rp. 6 trillion-Rp. 8 trillion.

“We believe in the strength of Indonesian retail investors as a driving force for capital market investors. In Ajaib, the phenomenon of rising retail investors comes from second-tier cities,” he said.

Application for novice investors

In accordance with the company’s mission to be known as a friendly application for novice retail investors, all strategies and products need to be aligned. Ajaib’s VP of Product, Aurora Marsye said the application was fully designed to make it easier for novice investors to get into the stock business.

Such features as 100% online registration within minutes; no minimum investment and account opening without initial deposit; comprehensive chart display, in-depth technical and fundamental analysis; and various educational materials and discussion forums, are some of the main features to attract young people.

“We remove all kinds of barriers that have been preventing young investors to get into the stock market. With these various facilities, new users only need courage to invest,” Aurora said.

Although the application is designed as friendly as possible for users, Ajaib still prioritizes to educate, considering that stock investments are classified as high risk high return investments. Another approach is to hold regular trainings by utilizing social media platforms for young people.

“Because the target is retail investors, we observe their space, it is currently in the social media. We approach them, try to win the ball. We believe all players will also take this strategy to facilitate easy access for users,” Anna added.

Furthermore, it is part of the company’s strategy to improve the stock investors’ literacy. He said, quality improvement is important, but maintaining the user’s quality is equally important.

In Indonesia, the ratio of capital market investors and the population is still unequal. As of November 2021, KSEI recorded 7.1 million capital market investors, increased by 84% from the same period in the previous year of 3.27 people. Of the total investors, 99.51% are retail investors, dominated by the age group under 40 years with 59.81%.

Unfortunately, he could not elaborate further on the characteristics of Ajaib’s users, whether investors or traders, to the style and average allocation of funds in investing. “Everything is mixed as it all comes down to the [preference] of each investor. At Ajaib, the portion under management between mutual funds and stocks is even,” Anna revealed.

It includes plans to add other asset classes, after acquiring 24% of Bank Bumi Artha‘s shares. Anna ensures this strategic move will make it easier for Ajaib to develop more products in the future.

Learn from Robinhood

Ajaib’s moves are often compared to what Robinhood did in disrupting the financial industry, especially the stock market in the United States. Apart from designing an intuitive, user-friendly and up-to-date application, a key part of Robinhood’s strategy is zero commission on stock trading.

This is obviously attractive and helps with user acquisition. In the process, Robinhood monetizes its business with payments for order flow, stock borrowing fees, and subscriptions. In a way, “forcing” the incumbents in the brokerage industry to do the same.

Previously, incumbents such as Fidelity, Wellington, Charles Schwab, and E*Trade, were ruling the retail investor segment. Even E*Trade and Schwab account for over 40% of the brokerage industry’s total online revenue, according to IBISWorld in 2019. However, Robinhood has managed to attract more than 21 million active users, doubling from 2020, surpassing Schwab’s market share last year.

In creating new demand, Robinhood has succeeded in acquiring users from various races, from previously dominated by whites and experienced investors who are closely related to the stock market.

Behind Robinhood’s glittering achievements, this company leaves a controversy. From its convenience application, which uses gamification, the company seems to “underestimate” the educational aspect, especially since Robinhood’s main target is novice investors. Regulators in the state of Massachusetts went so far as to file a complaint against the company citing “aggressive tactics to attract inexperienced investors.”

It is one of the many controversies that burdens the regulators. According to SEC officials, bringing retail investors more access to capital markets is a good thing, as long as the core principles for protecting investors are not altered by apps that encourage active trading through behavioral cues.

“Our belief is, the more we lower the barriers to entry, the more we level the playing field and allow people to invest their money at a younger age, the better our economy will be and the better the society will be as we are kind. We live at the intersection of capitalism, democracy and innovation,” said Robinhood’s CEO, Vlad Tenev. “And I think it’s a very interesting place,” he concluded.

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Original article is in Indonesian, translated by Kristin Siagian

Application Information Will Show Up Here

Init-6 Invests in the “Showwcase” Community Platform fo Developers

After channeling investment in local cloud service provider IDCloudHost, in early 2022, Init-6 announced another funding to Showwcase.

Showwcase is a US based startup that specifically provides a professional network designed to connect developers, build communities, and discover new opportunities. Due to the increasing number of developers today, making platforms like Showwcase is considered very relevant.

This is a seed round funding and the value is undisclosed. In total, Init-6 has currently invested in 15 portfolios. Most of them are startups from Indonesia. Showwcase, in fact, has plans to expand in Indonesia.

Init-6’s Partner, Nugroho Herucahyono revealed to DailySocial that they invested in Showwcase because of the lack digital talents. There is an imbalance between supply and demand for tech talents.

“One of the problems that we observe is the lack of solutions that can accommodate the needs of tech talent to connect, share knowledge, showcase technology skills, and find opportunities in the technology community. Seeing that problem, we believe Showwcase can be the answer to represent the needs of technology talent in the market. We believe that the Showwcase platform can bridge the supply and demand gap for technology talent.”

Launched in 2020, Init-6 was founded with focus on investing in early-stage startups. Init-6 made its first investment into the edtech platform Eduka. Throughout 2022, they plan to invest in more startups in Indonesia.

Platfotm for developers

The increasing number of training platforms, such as coding classes and coding bootcamps, has generate more developers in Indonesia. However, there are not many platforms that provide opportunities for them to create networks and broaden their insights. In the future, Showwcase wants to be a forum for developers in Indonesia to establish online connection.

A local platform that prior to offer a similar concept was Dicoding. Since the beginning, Dicoding has utilized its website platform to reach developers and potential developers in Indonesia. There are several activities that can be followed through the website, ranging from developer competitions, developer events, and learning channels with programming topics.

Another platform that offers a similar concept is Kotakode. the platform also functions as a channel for Q&A for programmers.

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Original article is in Indonesian, translated by Kristin Siagian

Fintech for Creator Platform UpBanx Secures 74 Billion Rupiah Funding, Claiming Centaur Valuation in Its First Year

The fintech platform UpBanx, which aims to develop a digital banking platform for creators (or influencers) and brands, announced a pre-seed funding of $5.2 million or around 74 billion Rupiah, claiming a valuation of $120 million (centaur) within only 6 months of operation or 1 official month. The service alone is yet to accessible for public.

The current funding was participated by Y Combinator, Alpha JWC Ventures, Alto Partners Multi-Family Office, Number Capital, UBI Capital, Raffi Ahmad and Nagita Slavina, the creator network of Collab Asia and DRM (Digital Chain Maya), and a number of well-known angel investors.

It is also listed in the ranks of these angel investors, Melvin Hade (GFC Partner), Hendra Kwik (CEO of Fazz Financial), Hendoko Kwik (CEO of Modal Rakyat), Budi Handoko (CEO of Shipper), and Arya Setiadharma (CEO of Prasetia Dwidharma).

UpBanx was founded by Wafa Taftazani (ex-Googler and Co-Founder of Modal Rakyat), Hendri Wijaya, and Alif Jafar Fatkhurrohman. The company is part of the prestigious Y Combinator incubator batch W22 .

The CEO, Wafa Taftazani said, “We built UpBanx as an integrated platform for the creator economy and beyond. Apart from providing financial solutions, we will also facilitate seamless collaboration between creators and brands. In the near future, we will also act as a Web3 launch platform for creators. and brands, to help support fan engagement in new, innovative ways.”

UpBanx will be available in 2022. The concept is somewhat different from most digital banking. In order to join, participants must be creators on YouTube, Instagram, or TikTok. The curation criteria is yet to announce by the platform.

UpBanx will later use a banking license owned by BPR Sentral Mandiri and supported by Fazz Financial’s fintech ecosystem, including Modal Rakyat and Cashfazz.

There are not many digital banking platforms that specifically target niche markets. Previously, Hijra from Alami was also projected to be the first Islamic digital bank.

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Original article is in Indonesian, translated by Kristin Siagian

East Venture Leads Series A Funding for the Healthtech Startup “Smarter Health”

Smarter Health announced a series A funding worth of S$ 5.15 million (approximately 54 billion Rupiah) led by East Ventures. The fresh moeny will be used for product development and market expansion in Southeast Asia. Also participated in this round some strategic investors, such as Orbit Malaysia, Citrine Capital, HMI Group, and EMTEK.

The Smarter Health platform facilitates secure exchange of data between insurance companies, healthcare providers and patients. This enables the use of data to guide patient decision making, and increases the accuracy and speed of claims. Future developments will drive greater operational efficiency, effectiveness, and enhance customer security.

After the promising traction in Singapore, Malaysia, Indonesia, Smarter Health is looking to further enhance and expand its market and series of solutions.

“We are excited to partner with East Ventures and other strategic investors to realize our vision of being an ‘Easy to Access, Affordable and Accountable’ healthcare service. We look forward to collaborating with more insurance companies, healthcare providers, and doctors to achieve this vision,” Smarter Health’s CEO Liaw Yit Ming said in an official statement, Monday (3/1).

East Ventures’ Co-Founder & Managing Partner, Willson Cuaca added, “The Covid-19 pandemic has forced insurance companies and healthcare providers to reconsider and restructure their operations strategies by accelerating digital transformation. Smarter Health is here to make healthcare more accessible, affordable and accountable by providing an AI-operable platform.

“We are excited to support Smarter Health in resolving inefficiencies in the health care process between stakeholders in the health ecosystem,” Willson added.

One of Smarter Health’s solutions in Indonesia is the Second Medical Opinion service, which allows patients to get a complete overview of their medical condition from a collaborative network of specialist doctors carefully curated by Smarther Health.

These specialist doctors come from Singapore and have different medical specialties and disciplines. They practice in major private hospitals such as Elizabeth Novena Hospital, Mount Elizabeth Hospital, Gleneagles Hospital and others for a flat rate of S$250.

Indonesian patients will be scheduled for a 20-minute teleconsultation session and receive a written medical report from the selected specialist within five working days after the consultation session.

Digital transformation for health industry is currently on the spot

The Ministry of Health publishes a roadmap contained in the blueprint of the Indonesian health sector transformation and digitization for 2021-2024. There are three priority agendas for the Ministry, integration and development of data systems, service applications, and ecosystems in the field of health technology (healthtech).

Apart from the right momentum due to the Covid-19 pandemic, the roadmapis haunted by a number of big challenges. It includes the data system and the unbalanced ratio of the number of health workers and room capacity to the total population.

Currently, there are hundreds of applications which data management still based on individual information. In the government, there are more than 400 applications in the health sector, and this number does not include the regional level. This is yet to mention the medical records of 270 million Indonesians, which are yet to be fully digital.

Meanwhile, the current Ministry of Health noted that the ratio of doctors reached 03.8 per 1,000 population, while the ratio of hospital beds was around 1.2 per 1,000 population in Indonesia.

“We have seen how the Covid-19 pandemic has had a significant impact on various things, including changing the way people consult. We must start this transformation and focus on developing platforms and implementing collaborative initiatives with stakeholders. We expect to create a healthy Indonesia and create integrated health platforms,” the Chief Digital Transformation Office of the Ministry of Health, Setiaji said.

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Original article is in Indonesian, translated by Kristin Siagian

Willix Halim Steps up as Bukalapak’s Temporary CEO

On the same day (29/12), after Rachmat Kaimuddin resigned from his position as President Director, Bukalapak announced Willix Halim as the company’s Acting President Director or temporary CEO. He will lead Bukalapak during the transition period until the closing of the Company’s EGMS which ratifies and confirms the resignation of Rachmat Kaimuddin and the appointment of a new President Director.

Teddy Oetomo and Natalia Firmansyah will continue to serve as Bukalapak’s Directors.

“During his tenure as Acting President Director, Willix will be responsible for the company’s overall operational activities and ensure that Bukalapak maintains its mission of creating A Fair Economy For All,” Bukalapak management wrote in an official statement.

Willix joined Bukalapak as Chief Operating Officer in 2016. Under his departmental position, Willix handles all Bukalapak business operations, product, data & design, and technology.

Previously, he served as a Senior Vice President Growth for Freelancer.com, one of Australia’s largest startups. Willix received a bachelor’s degree in Computer Science and Mechatronics with First Class Honors in 2009 from the University of Melbourne.

Bukalapak’s management previously said that Rachmat’s resignation had been submitted on December 28, 2021, he planned to continue working for the government. According to the spreading rumor, it is reported that Rachmat will continue his career as one of the deputies under the leadership of Luhut Binsar Pandjaitan at the Coordinating Ministry for Maritime Affairs and Investments.

The Philippines scheme

Amid the managerial shifting, Bukalapak is reportedly eyeing expansion to the Philippines. It is marked by the job vacancy for the Country Manager position in the Philippines. The company’s representative has not provided any feedback to DailySocial regarding this matter.

Previously, Bukalapak, along with Sembrani Kiqani, BRI Ventures’ latest managed fund, were involved in the Yield Guild Games Southeast Asia (YGG SEA) funding with a total of $15 million in two rounds. YGG SEA is a DAO under YGG, a blockchain-based game development startup from the Philippines.

According to the e-Conomy SEA report, the country’s GMV generated from the digital economy is predicted to reach $17 billion, 93% increased YoY. The largest contributor came from the e-commerce business with a growth of 132% or worth $12 billion. At a 24% CAGR growth, it is predicted the overall internet economy is likely to reach a value of $40 billion by 2025.

In fact, the country’s internet penetration growth still has a wide scope, even one of the lowest compared to neighboring countries in ASEAN, since only 68% of the population are familiar with online services.

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Original article is in Indonesian, translated by Kristin Siagian

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