PasarPolis and Its Focus on Product Innovation and Growth

After receiving fresh series A funding in 2018 from Go-Jek, Tokopedia, and Traveloka with an unspecified value, PasarPolis insurtech is reportedly to be in discussion with the International Finance Corporation (IFC) for further round. Regarding the truth, Cleosent Randing as the founder gives some clarification to DailySocial.

“We avoid commenting on such speculation. We continue to receive offers from the best investors from within and outside the country. We are always open to those who have the vision to democratize insurance for all through technology,” Cleosent said.

Was founded in 2015, PasarPolis is said to experience double-digit growth every month. The company has also developed some new breakthroughs such as collaboration with Gojek in developing insurance named Go-Sure, and developing new products such as cracked screen protection using patented QR code technology. Previously. they also expand to Thailand and Vietnam.

“Amid the Covid-19 pandemic we’ll also launched many products to protect the wider community,” Cleosent said.

The current outbreak of the Covid-19 virus is claimed to affect just a speck of the PasarPolis business. Although some of our partners in the transportation sector have decreased in traffic rate. It is said that PasarPolisis to overcome this by diversifying products into health. For example, the current products that rapidly growing with the number of partners from several industry segments outside transportation.

“To date, we have worked with more than 30 partners, almost all of them are leaders in their respective industries, such as Gojek on ride-hailing, Tokopedia in e-commerce services. In 2019, PasarPolis protects and releases more than 50 million insurance policy every month,” Cleosent said.

PasarPolis plans after the pandemic

Cleosent Randing saat peluncuran Go-Sure — Cleosent Randing at Go Sure launching

With the Covid-19 pandemic still ongoing, it is predicted that today and in the future new habits will be formed among people who prefer to buy insurance products online.

The insurtech platforms, such as PasarPolis which is actively increasing literacy in the importance of insurance, expected to increase public awareness in the future about the importance of easy and affordable insurance. Utilizing platforms such as PasarPolis that provide access and convenience in providing insurance is now much easier via digital.

“We see that after the Covid-19 pandemic ends will begin a new ‘ normal’ era where insurance purchases via digital continue to increase. With lower distribution costs, consumers can get more value and this Pandemic certainly provides a lesson for us all how important it is to maintain health,” Cleosent said.

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Original article is in Indonesian, translated by Kristin Siagian

PasarPolis dan Fokusnya pada Pertumbuhan dan Inovasi Produk

Setelah tahun 2018 lalu layanan insurtech PasarPolis menerima dana segar seri A dari Go-Jek, Tokopedia, dan Traveloka dengan nilai yang tidak disebutkan, kabarnya perusahaan tengah dalam penjajakan dengan International Finance Corporation (IFC) untuk pendanaan berikutnya. Disinggung kebenaran kabar tersebut, Cleosent Randing selaku founder memberikan klarifikasinya kepada DailySocial.

“Kami tidak berkomentar untuk spekulasi. Kami terus menerima tawaran dari investor investor terbaik dari dalam maupun luar negeri. Kami selalu terbuka kepada mereka yang memiliki satu visi untuk mendemokratisasi asuransi untuk semua lewat teknologi,” kata Cleosent.

Hadir tahun 2015 lalu, kini PasarPolis mengklaim terus mengalami peningkatan dengan double digit growth setiap bulannya. Perusahaan juga telah mengembangkan banyak terobosan baru seperti kerja sama dengan Gojek dalam mengembangkan asuransi di Gojek melalui Go-Sure, dan mengembangkan produk baru seperti proteksi layar retak dengan menggunakan teknologi QR code yang telah di patenkan. Sebelumnya mereka juga telah melancarkan ekspansi ke Thailand dan Vietnam.

“Di tengah pandemi Covid-19 kami juga meluncurkan banyak produk yang melindungi masyarakat luas,” kata Cleosent.

Penyebaran Covid-19 saat ini diklaim tidak terlalu berpengaruh kepada bisnis dari PasarPolis. Meskipun beberapa partner di bidang transportasi mengalami penurunan dari sisi traffic. Konon hal tersebut bisa teratasi oleh PasarPolis dengan adanya diversifikasi produk ke kesehatan. Misalnya yang justru bertumbuh sangat pesat di saat ini dan juga dengan banyaknya partner dari beberapa segmen industri di luar transportasi.

“Sampai saat ini kami telah bekerja sama dengan lebih dari 30 partners, hampir semuanya adalah leader di industri masing-masing, seperti Gojek di ride hailing, Tokopedia di layanan e-commerce. Pada tahun 2019 PasarPolis setiap bulannya melindungi dan mengeluarkan lebih dari 50 juta polis asuransi,” kata Cleosent.

Rencana PasarPolis usai pandemi

Meskipun pandemi Covid-19 masih terus berlangsung, diprediksi saat ini dan ke depannya akan terbentuk kebiasaan baru di kalangan masyarakat yang lebih banyak memilih dan membeli produk asuransi secara online.

Dengan adanya platform insurtech seperti PasarPolis yang secara aktif terus meningkatkan literasi akan pentingnya asuransi, harapannya bisa meningkatkan kesadaran masyarakat ke depannya akan pentingnya asuransi yang dapat diperoleh dengan sangat mudah dan juga terjangkau. Memanfaatkan platform seperti PasarPolis yang memberikan akses dan kemudahan dalam memberi asuransi jauh lebih mudah lewat digital.

“Kami melihat setelah pandemi Covid-19 usai akan terbentuk kebiasaan baru ‘new normal’ di mana pembelian asuransi lewat digital terus meningkat. Karena biaya distribusi yang lebih rendah sehingga konsumen bisa mendapatkan value yang lebih dan juga Pandemi ini tentunya memberikan suatu pembelajaran bagi kita semua betapa pentingnya menjaga kesehatan,” kata Cleosent.

Application Information Will Show Up Here

Berikut Daftar Startup Unicorn Indonesia Hingga Tahun 2020

Hingga saat ini, berdasarkan startup report 2019 sudah ada 6 startup yang masuk jejeran daftar Unicorn Indonesia 2020. Dari 6 startup Unicorn Indonesia 2020 yang sudah ada, JD.ID menjadi startup Unicorn keenam dengan valuasi sebesar $1 miliar setelah Ovo. Unicorn sendiri merupakan sebutan yang diberikan kepada para startup yang telah memiliki nilai valuasi di atas 1 miliar dollar AS atau setara dengan 14,1 triliun. Berikut daftar startup yang menyandang status Unicorn Indonesia 2020:

Gojek

Didirikan oleh Nadiem Makarim, Kevin Aluwi, dan Michaelangelo Moran pada tahun 2010. Dalam perjalannya, Gojek menjadi Startup Indonesia pertama yang meraih gelar Unicorn di tahun 2017. Dua tahun setelahnya, Gojek memastikan status barunya menjadi “Decacorn” setelah ditahun yang sama pasca pembukaan seri F oleh JD, Tencent, dan Google, valuasi Gojek ditaksirkan telah mencapai $9,5 miliar.

Gojek memulai bisnisnya sebagai layanan ojek motor panggilan lewat call center dan saat berdiri hanya memiliki 20 pengemudi. Berbagai pengembangan fitur aplikasi mereka lakukan, dari yang awalnya hanya transportasi (Go Ride dan Go Car) hingga variasi layanan seperti Go Food, Go Send, Go Massage, dan lainnya.

Gojek sudah memasuki pasar di beberapa negara di Asia Tenggara, meliputi Thailand, Vietnam dan Singapura; di Malaysia dan Filipina tengah dalam tahap pematangan.

Tokopedia

Tokopedia pertama kali didirikan oleh dua sekawan, William Tanuwijaya dan Leontinus Alpha Edison pada tahun 2009. Startup di bidang e-commerce ini mendapat status unicorn Indonesia di tahun 2017 dan di tahun yang sama juga mengumumkan perolehan pendanaan senilai total 1,1 miliar dollar (atau lebih dari 14 triliun Rupiah) yang dipimpin Alibaba. Masuknya Alibaba ke Tokopedia menegaskan cengkeraman raksasa teknologi Tiongkok ini di Asia Tenggara

Akhir tahun 2019 Tokopedia dikabarkan tengah mengumpulkan pendanaan putaran baru (fundraising), nilai yang ditargetkan mencapai $1,5 miliar atau setara 21,1 triliun Rupiah. Besar kemungkinan dana tambahan yang tengah dikumpulkan akan difokuskan untuk meningkatkan traksi perusahaan, sebelum akhirnya miliki keuangan yang “hijau” dan IPO. Terakhir Tokopedia mengumumkan bahwa GMV mereka telah tembus di angka 222 triliun Rupiah sepanjang tahun 2019.

Traveloka

Di daftar selanjutnya ada Traveloka yang didirikan oleh Ferry Unardi, Albert Zhang, dan Derianto Kusuma pada tahun 2012. Berpusat pada bidang pemesanan hotel dan travel, perusahaan ini merupakan startup travel di Asia Tenggara yang menyandang status Unicorn.

Gelar unicorn sudah diraih Traveloka sejak Juli 2017 setelah pendanaan yang didapat dari Expedia memperkuat posisi Traveloka sebagai pemimpin pasar industri travel Indonesia ketika memperoleh investasi dari Expedia sebesar 350 juta dolar AS. Setahun terakhir sebelumnya Traveloka secara total sudah mendapatkan dana $500 juta (lebih dari 6,6 triliun Rupiah) dari East Ventures, Hillhouse Capital Group, JD.com, and Sequoia Capital.

Kini, tidak hanya dikenal sebagai unicorn di vertikal online travel, Traveloka saat ini sudah melanglang buana di tujuh negara. Fokus layanannya tidak hanya akomodasi dan transportasi. Bisnis perusahaan kini sudah merambah ke gaya hidup dan finansial.

Bukalapak

Bukalapak masuk dalam daftar startup Unicorn Indonesia bidang e-commerce kedua setelah Tokopedia yang mendapatkan gelar unicorn. Bukalapak didirikan oleh Achmad Zaky bersama dua orang temannya, Nugroho Herucahyono dan Fajrin Rasyid, pada tahun 2010.

Di tahun 2017 dengan valuasi yang diklaim Bukalapak mencapai lebih dari US$1 miliar (sekitar Rp13,5 triliun) menyandang status unicorn menyusul Go-Jek, Traveloka, dan Tokopedia. pemilik terbesar saham Bukalapak adalah konglomerasi media EMTEK, yang per laporan kuartal ketiga 2017 memiliki 49,21% saham layanan marketplace yang didirikan Zaky bersama Fajrin Rasyid dan Nugroho Herucahyono.

Kini, status Bukalapak bukan lagi startup. Masuk ke tahun ke-10, perusahaan mencapai milestone dengan lebih dari 70 pengguna dan kunjungan ke aplikasi tembus 420 juta kali per bulan. Ada lima juta pelapak dan tiga juta Mitra Bukalapak telah bergabung.

Ovo

Ovo tahun lalu mencuri perhatian dengan menjadi startup unicorn kelima di tanah air. Hal ini diungkapkan tahun lalu oleh mantan menkominfo Indonesia, Rudiantara, yang mengumumkan bahwa perusahaan berhasil memasuki jajaran Startup Unicorn Indonesia 2020 dengan valuasi senilai US$ 1 miliar. OVO merupakan penyedia layanan pembayaran elektronik yang dibesut oleh Grup Lippo.

Startup Report 2018 yang disusun DSResearch pada saat itu menempatkan Ovo sebagai calon terdekat untuk status unicorn, di antara jajaran startup yang memiliki valuasi di atas $100 juta. Berdasarkan Fintech Report Indonesia 2019 yang dikeluarkan oleh DailySocial, Ovo menjadi e-wallet yang paling populer di Indonesia dan menempati posisi kedua sebagai dompet digital yang paling sering digunakan di negara ini.

JD.id

Awal tahun ini, platform e-commerce JD.id mengonfirmasi kepada DailySocial bahwa valuasi perusahaan sudah melebihi US$1 miliar. Dengan demikian JD.id menambah jajaran daftar startup Unicorn Indonesia 2020 menjadi 6 perusahaan setelah di tahun sebelumnya ada Ovo yang juga bergabung dalam jajaran Unicorn Indonesia. Ada tiga startup di jajaran ini beroperasi di vertikal e-commerce.

JD.id pertama kali mulai beroperasi di Indonesia pada November 2015. Situs e-commerce yang miliki jargon “menjual barang dengan jaminan asli” tersebut hadir ke Indonesia sebagai hasil kerja sama strategis antara raksasa e-commerce Tiongkok JD.com dan private equity Provident Capital.

Saat ini, berarti ada 3 pemain e-commerce yang bersiap untuk memenangkan pasar. Jika platform seperti Bukalapak dan Tokopedia gencarkan program kemitraan, JD.id dalam beberapa kesempatan selalu menyampaikan fokusnya untuk memperkuat logistik.

Dimo is Reportedly Acquired by Traveloka Group Last Year

Traveloka is reported to have acquired the payment system startup based on the QR code Dimo Pay Indonesia (Dimo) early last year. A trusted source who avoid being published told DailySocial said the acquisition process was through a shell company (special purpose vehicle / SPV).

It is the same method when Traveloka acquired Pegipegi and two other OTA startups under the auspices of Recruit Holdings in early 2018. Unlike Gojek, Traveloka chose not to include its branding for each company acquired.

We absorbed the information from SEAcosystem.com – a collaborative worksheet that was initiated by a number of Southeast Asia’s venture capitalists to help related layoffs this year. All data included on the site is voluntary.

There are some of Dimo employees affected by layoff linked their company name with the Traveloka Group. We also tried to contact Dimo, unfortunately, there is no feedback until the news release.

Dimo was founded in 2016 under the Sinar Mas Group, specifically SMDV. Currently, Dimo is led by Grégory Soetrisnardi, while CTO Christoforus Yoga Haryanto comes from Traveloka.

In addition to Dimo, under the company’s legal entity there are two other operating products, Uangku and Cashbac. All products are engaged in fintech with different segments.

The acquisition by Traveloka answers the question of Uangku as an electronic money payment option in its application. However, we are yet to receive confirmation whether Cashbac has also been acquired by Traveloka.

Dimo runs payment services based on QR code system using Pay by QR jargon. They move agnostically aka QR codes contained in merchants can receive various sources of funds from affiliated electronic money applications.

The relationship between Traveloka and Sinarmas’ subsidiary also applied for PayLater services with Danamas. Danamas confirmed the affiliation between the two companies was limited to a business agreement. There is no stock investment by Traveloka.

In the Traveloka application, there is a QR code scan that is used at Traveloka Eats merchant partner locations, Traveloka booths at airports and shopping centers, and events held by Traveloka. There is also a privilege to enter tourist attractions without having to print physical tickets.

The pandemic has hit the tourism sector with the sharpest decline compared to other sectors. In addition to Dimo’s layoff scheme, Airy, which is often associated with Traveloka, has announced a business termination as of the end of May.

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Original article is in Indonesian, translated by Kristin Siagian

Tahun Lalu Dimo Dikabarkan Telah Diakuisisi Traveloka Group

Traveloka dikabarkan telah mengakuisisi startup sistem pembayaran berbasis kode QR Dimo Pay Indonesia (Dimo) awal tahun lalu. Sumber terpercaya yang tak mau disebutkan namanya kepada DailySocial mengungkapkan, proses pembelian dilakukan melalui perusahaan cangkang (special purpose vehicle / SPV).

Traveloka menggunakan modus yang sama ketika mengakuisisi Pegipegi dan dua startup OTA lain di bawah naungan Recruit Holdings pada awal 2018. Berbeda dengan Gojek, Traveloka memilih tidak memasukkan branding-nya untuk setiap perusahaan hasil akuisisi.

Informasi awal ini kami dapat dari SEAcosystem.com – sebuah worksheet kolaboratif yang diinisiasi sejumlah modal ventura di Asia Tenggara untuk membantu talenta yang terdampak layoff tahun ini. Seluruh data yang dicantumkan di situs tersebut diisi secara sukarela.

Di sana sejumlah pegawai Dimo yang terdampak layoff mengkaitkan nama perusahaannya dengan Traveloka Group. Kami pun mencoba menghubungi pihak Dimo, namun hingga berita diturunkan tidak ada respons yang diberikan.

Dimo berdiri sejak 2016 di bawah naungan Sinar Mas Group, khususnya SMDV. Saat ini Dimo dipimpin Grégory Soetrisnardi, sementara CTO Christoforus Yoga Haryanto berasal dari Traveloka.

Selain Dimo, di bawah badan hukum perusahaan ini ada dua produk lain yang masih beroperasi, yakni Uangku dan Cashbac. Seluruh produk tersebut bergerak di bidang fintech dengan segmen yang berbeda.

Akuisisi oleh Traveloka menjawab pertanyaan mengapa Uangku menjadi opsi pembayaran uang elektronik yang terdapat di aplikasinya. Meskipun demikian kami belum memperoleh konfirmasi apakah Cashbac juga telah diambil alih pengelolaannya oleh Traveloka.

Dimo bergerak di layanan sistem pembayaran berbasis kode QR dengan jargonnya Pay by QR. Mereka bergerak secara agnostik alias kode QR yang terdapat di merchant dapat menerima berbagai sumber dana (source of funds) dari aplikasi uang elektronik yang sudah bekerja sama.

Hubungan Traveloka dan anak usaha Sinarmas juga dilakukan untuk layanan PayLater bersama Danamas. Pihak Danamas mengonfirmasi bahwa hubungan kedua perusahaan adalah sebatas kesepakatan bisnis. Tidak ada penanaman saham dilakukan oleh Traveloka.

Di dalam aplikasi Traveloka, terdapat pemindaian kode QR yang digunakan di lokasi partner merchant Traveloka Eats, stan Traveloka di bandara dan pusat perbelanjaan, dan acara-acara yang digelar Traveloka. Tersedia pula akses cepat untuk masuk ke tempat wisata tanpa perlu mencetak tiket fisik.

Dampak pandemi yang masih berlangsung memukul sektor pariwisata dengan penurunan tertajam dibandingkan sektor lainnya. Selain pemutusan hubungan kerja di Dimo, Airy yang sering diasosiasikan dengan Traveloka telah mengumumkan penutupan operasional per akhir Mei mendatang.

Airy to Shut Down Business Permanently, Putting other OTAs in Jeopardy

Such unfortunate news came from the local OTA (Online Travel Agency) industry. Airy or Airy Rooms will terminate its operations permanently by the end of May 2020. We receive the news from a source involved in the company’s operations. It was later discovered that several property partners had received official notification emails regarding the service termination.

DailySocial has been trying to reach the management since Wednesday (5/6), yet the information still sealed – although they didn’t deny the rumor.

The layoff situation has gone wild in the Airy ecosystem, the number is monitored through SEAcosystem.com – a collaborative worksheet initiated by some Southeast Asia’s venture capitalists to help affected talents and startups due to Covid-19. A reliable source has confirmed the layoff.

In addition, as we observed, Airy is currently not displaying any property listings after May 31st, 2020. It applies to the flight ticket, there will be no search results as per June 1st, 2020.

Since the beginning of the year, when the Covid-19 pandemic began to haunt the Southeast Asian region, there was a sharp decline for Airy service users. Exacerbated by the lockdown and physical distancing initiatives in almost all countries resulting in the declining number of traveling (out of town or abroad).

As general notes, in addition to offering low-cost lodging accommodations, Airy also provides a flight ticket booking feature.

Penurunan trafik kunjungan situs Airy, di platform dekstop dan mobile / Similarweb — The declining number of Airy’s traffic, in PC and mobile platform / Similarweb

Earlier this year, the company had a succession by appointing Louis Alfonso Kodoatie as the new CEO. With 30 thousand rooms spread across 100 cities, they are confident enough to continue to penetrate the market. Particularly, after launching Airy for Business at the end of last year as a new initiative offering online services for company official travel management.

All OTAs afflicted, no exception

Last month, a news spread regarding Traveloka’s significant staff reduction. The temporary halt of inter-city public transportation modes, such as planes and trains, certainly has an impact on the decline in company revenue. Nearly zero tourist visits also make bookings for accommodation services such as hotels or recreation tickets drop sharply.

Penurunan trafik kunjungan situs Traveloka, di platform dekstop dan mobile / Similarweb — The declining traffic of Traveloka’s site, in PC and mobile platform / Similarweb

Unlike Airy, Traveloka’s unicorn status ideally provides a longer runway. Particularly since last year, the company has been intensifying fundraising up to 7 trillion Rupiah. It was said by Co-Founder & CEO Ferry Unardi that the startup he founded was planned to take dual IPO listings in the next 2-3 years – it was before the pandemic.

Observing the current conditions, the Center of Reform on Economics (CORE) member, Yusuf Rendy Manilet told DailySocial that he believes all OTA players in Indonesia are devastated by Covid-19. However, Yusuf did not see this as hopeless.

“In my opinion, they can explore domestic tourists with more local potential, like culinary tourism,” Yusuf said.

A Traveloka representative, who was contacted separately, said he was concerned about the situation. But they refused to break down the whole impact. “Currently, our focus is to prioritize the safety and comfort of users in planning their trips,” Traveloka’s Head of Marketing, Transport, Andhini Putri said.

Pegipegi also facing a similar issue. The company’s response is not much different. They are still busy accommodating the needs of travelers who use their services, including in canceling reservations. “Currently, for customers who want to cancel their order, it can be done easily through the Pegipegi application using the Online Refund feature,” Pegipegi’s Corporate Communications Manager, Busyra Oryza told Dailysocial.

OTA in Indonesia

The local OTA business is filled with local and outside players, however, from the previous year’s trends, local players have a larger share of users. Of the many players, five of them have the biggest traction, including Traveloka, Pegipegi, Tiket, Airy, and Nusatrip.

Platform OTA lokal populer di Indonesia / DSResearch — Most popular local OTA platforms in Indonesia / DSResearch

The e-Conomy SEA 2019 report also shows that online travel is still the second most influential digital sector after e-commerce. In 2019 the industry recorded GMV at US$10 billion and is projected to grow to US$25 billion in the next five years.

The situation could change, after the end of the pandemic, “new normal” will be a challenge in all business sectors. In order to stay in the game while reaching its highest potential, every business must be able to adapt and innovate, including travel. The good thing is that this industry has grown rapidly, OTA players are no longer just about ticketing. More than that, each is transformed into a service with a variety of integrated features.

This is about how companies survive. Basically, traveling is a necessity, both for personal and business interests. When the dust settles, sooner or later, this sector will return to its pace.

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Original article is in Indonesian, translated by Kristin Siagian

Application Information Will Show Up Here

Airy akan Tutup Bisnis secara Permanen, OTA Kalang Kabut Akibat Pandemi

Kabar buruk datang dari industri OTA (Online Travel Agency) lokal. Airy atau Airy Rooms akan menghentikan operasionalnya secara permanen per akhir Mei 2020. Kabar tersebut awalnya kami dapatkan dari seorang yang terlibat dalam operasional perusahaan. Belakangan diketahui, beberapa mitra properti telah mendapatkan email pemberitahuan resmi mengenai rencana penutupan layanan.

DailySocial mencoba menghubungi jajaran manajemen sejak Rabu (06/5), pihaknya masih belum bisa memberikan informasi – kendati tidak menampik kabar tersebut.

Badai PHK juga terus berlangsung di Airy, perkembangan jumlahnya terpantau melalui situs SEAcosystem.com – sebuah worksheet kolaboratif yang diinisiasi sejumlah pemodal ventura Asia Tenggara untuk membantu talenta dan startup yang terdampak layoff karena Covid-19. Narasumber kami pun membenarkan adanya PHK yang dilakukan secara bertahap.

Selain itu, dari percobaan kami, saat ini platform Airy sudah tidak menampilkan lagi daftar properti untuk pencarian di atas tanggal 31 Mei 2020. Pun untuk pemesanan tiket pesawat, jika memasukkan tanggal 1 Juni 2020 ke atas, tidak akan menampilkan hasil pencarian rute.

Sejak awal tahun, saat pandemi Covid-19 mulai menghantui kawasan Asia Tenggara, terjadi penurunan yang cukup tajam untuk pengguna layanan Airy. Diperburuk dengan insiatif lockdown dan physical distancing di hampir semua negara yang menjadikan kegiatan bepergian (ke luar kota atau luar negeri) nyaris tidak dilakukan oleh orang-orang.

Seperti diketahui, selain menawarkan akomodasi penginapan berbiaya rendah, Airy juga menyediakan fitur pemesanan tiket pesawat.

Awal tahun ini perusahaan juga baru lakukan suksesi dengan menunjuk Louis Alfonso Kodoatie sebagai CEO baru. Beberbekal 30 ribu kamar yang tersebar di 100 kota, mereka cukup percaya diri bisa terus melanjutkan penetrasi pasar. Terlebih akhir tahun lalu Airy for Business juga baru diluncurkan, sebagai layanan yang menawarkan pelayanan online untuk manajemen perjalanan dinas perusahaan.

Semua OTA terdampak, tak terkecuali

Bulan lalu juga tersiar kabar mengenai pengurangan pegawai dengan jumlah yang cukup signifikan oleh Traveloka. Berhentinya operasional moda transportasi umum antarkota seperti pesawat dan kereta api tentu berimbas pada turunnya pemasukan perusahaan. Kunjungan wisata yang nyaris nol juga membuat pemesanan layanan akomodasi seperti hotel atau tiket rekreasi menurun tajam.

Berbeda dengan Airy, dengan status unicorn Traveloka idealnya memiliki runway yang lebih panjang. Terlebih sejak tahun lalu perusahaan juga tengah gencarkan fundraising hingga 7 triliun Rupiah. Disampaikan juga dalam sebuah kesempatan oleh Co-Founder & CEO Ferry Unardi bahwa startup yang didirikannya direncanakan tempuh dual-listing IPO dalam 2-3 tahun mendatang – kala itu belum ada asumsi worst case akibat pandemi.

Mengamati kondisi yang terjadi saat ini, kepada DailySocial ekonom dari Center of Reform on Economics (CORE) Yusuf Rendy Manilet yakin pelaku OTA di Indonesia pasti terpukul akibat Covid-19. Akan tetapi Yusuf melihat mereka bukan tanpa harapan dalam situasi genting seperti sekarang.

“Menurut saya mereka bisa memanfaatkan potensi wisatawan domestik tapi yang sifatnya lebih lokal, seperti wisata kuliner,” ucap Yusuf.

Perwakilan Traveloka, yang dihubungi secara terpisah, mengaku prihatin atas situasi yang terjadi. Namun mereka menolak menjelaskan sejauh apa dampak yang mereka terima. “Saat ini fokus kami adalah mengutamakan keamanan dan kenyamanan pengguna dalam merencanakan perjalanannya,” ujar Head of Marketing, Transport, Traveloka Andhini Putri.

Pegipegi juga rasakan hal yang sama. Respons perusahaan tak jauh berbeda. Mereka masih sibuk mengakomodasi kebutuhan para pelancong yang menggunakan jasa mereka, termasuk dalam pembatalan reservasi. “Saat ini, bagi pelanggan yang ingin membatalkan pemesanan mereka, dapat dilakukan dengan mudah melalui aplikasi Pegipegi dengan menggunakan fitur Online Refund,” terang Corporate Communications Manager Pegipegi Busyra Oryza kepada Dailysocial.

OTA di Indonesia

Bisnis OTA lokal dipenuhi oleh pemain lokal dan luar, kendati demikian dari tren-tren di tahun sebelumnya pemain lokal mendapatkan porsi pengguna yang lebih besar. Dari banyaknya pemain, lima di antaranya miliki traksi yang paling besar, meliputi Traveloka, Pegipegi, Tiket, Airy, dan Nusatrip.

Laporan e-Conomy SEA 2019 juga menunjukkan, online travel masih menjadi sektor digital yang paling berpengaruh nomor dua setelah e-commerce. Tahun 2019 industri tersebut catatkan GMV mencapai US$10 miliar dan diproyeksikan tumbuh jadi US$25 miliar dalam lima tahun ke depan.

Situasinya bisa jadi berubah, pasca pandemi berakhir pun “new normal” akan menjadi tantangan di semua sektor bisnis. Untuk tetap on-track mencapai potensi tertingginya, setiap bisnis harus mampu beradaptasi dan berinovasi, pun untuk travel. Baiknya, industri ini sudah berkembang pesat, para pemain OTA tak lagi hanya jajakan tiket. Lebih dari itu, masing-masing menjelma menjadi layanan dengan beragam fitur terpadu.

Ini adalah tentang bagaimana cara perusahaan bertahan. Pada dasarnya bepergian adalah sebuah kebutuhan, baik untuk pribadi maupun kepentingan bisnis. Saat situasinya mulai kondusif, cepat atau lambat, sektor yang tengah lunglai ini akan kembal bergas seperti sediakala.

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[Weekly Updates] Gojek Secures New Funding; Traveloka May Have $1 Billion Fintech Business; and More

Gojek just announced it has secured another $2 billion for its Series F round. Also, in the news the week on how Traveloka may have $1 billion fintech business, payment startup Cashlez is to go public, a better understanding about Indogen Capital’s funding strategy, and a Y Combinator alumni Jamiphy is targeting Indonesia’s market with app dubbed as “Tiktok for musician”.

Gojek Secures New Funding Worth of 18 Trillion Rupiah

Gojek is reportedly secure new funding in the Series F round, it is said to reach US$1.2 billion or 18 trillion Rupiah. According to a source by Bloomberg, based on the memo from Gojek’s Co-CEO, Andre Soelistyo and Kevin Aluwi, this round was closed per last week. There’s no further details on the participant investors.

This has become the biggest fund of a tech player in the first quarter of 2020. Amidst the pessimistic for the digital business ecosystem due to some cases, including the COVID-19 pandemic that captures global attention, including Indonesia.

Gojek has performed market penetration in several countries in Southeast Asia, including Thailand, Vietnam, and Singapore.

Analyzing Traveloka’s Potential as a Fintech Company

Traveloka Group President Henry Hendrawan, in an interview with Reuters at the end of 2019, stated, “Financial services as a whole started from almost zero in early last year and we hope that it will easily become a $1 billion business next year.”

Hendrawan’s statement indicated high optimism in his fintech business, there was even news that the company was raising special funding for this product line. It is not impossible, with a unique proposition that can make Traveloka’s fintech business (read: Caturnusa) bears the status of a unicorn, following its parent entity.

Caturnusa, with its core business as a finance company, facilitates Traveloka’s movement to find sources of funds as it should’ve come from institutions. When using license as a lending company, there are limitations in finding sources of loans, which come from individual borrowers.

Behind Cashlez Optimism to IPO Soon

Cashlez, a fintech startup for payment gateway and mPOS, has performed corporate action to be listed in the stock exchange. According to the plan, the company aims for Rp90 billion to Rp100 billion by releasing 300 million shares or 20.29% from modal to be placed and fully channeled after IPO. The price ranging for Rp298-Rp358 per share.

Cashlez’s President Director, Teddy Tee Setiawan said, the fund raised will be channeled to acquire similar organizations engaged in payment gateway named Softorb Technology Indonesia. The rest will be for operational matters.

Amidst the global economic slowdown due to the COVID-19 virus pandemic, Setiawan said he was optimistic that Cashlez shares could be well absorbed by the public. According to him, the IPO is a long-term plan that has been prepared long before the outbreak of the virus.

Indogen Capital is an Industry-Agnostic, Bridging Investors to Indonesian Market

Indogen Capital, as a VC with family-business background experiences and powerful network, aims to be a value-adding partner for overseas VCs looking to grow in expand into the Southeast Asia market, particularly Indonesia. That is supposedly what makes them different from other VCs.

In terms of stage, Firmanto said the VC is specialized in pre-Series and Series A. They only target post-seed, not the seed level due to high-risk. However, he admits that the company has exceptions, particularly on the organizations that involved professionals or serial entrepreneurs.

Indogen Capital began operation in late 2016, it’s when the Managing Partner, Chandra Firmanto, has graduated from his family business and initiated something new with some friends. They started to invest in organizations since 2017 and managed to invest in 18 portfolios today, including the leading car trading platform in Southeast Asia, Carsome, and the online marketplace of local Islamic fashion designers’ products in Indonesia, Hijup. The latest one is a short-term rental and property management platform, Travelio.

Regarding ticket size, they set around $200,000-500,000 at the first fund.

Jamiphy Aims to be a “Tiktok for Musician”, Focusing on the Indonesian Market

Jamiphy has been launched in Indonesia in early March 2020. A San Fransisco based platform, it is targeting the Indonesian market because many of its followers on social media come from Indonesia. Jamiphy is one of the participants of the W20 batch Y Combinator acceleration program.

Jamiphy’s CEO, Owen Carey, said, “Jamiphy is made specifically for musicians and music lovers. Everyone knows and many are using TikTok, except for musicians. We have made the platform easier for musicians to make great videos, and for users to find and find the music they like.”

After obtaining seed funding from Y Combinator, the company is targeting to have 100,000 active users in Indonesia and then expand to India and the United States. To date, Jamiphy is said to have around 3000 active users and is experiencing a 50% growth every week.

Traveloka Buat Platform Khusus Direktori Restoran “Manamana”

Sejak awal tahun ini, Traveloka mulai rilis layanan terbaru yang bergerak di direktori restoran, dinamai Manamana.

Platform ini menyediakan seluruh informasi terkait restoran, kafe, warung, atau tempat makan lainnya. Baik dari jenis makanan, menu, jam operasional, harga, lokasi, kontak, fasilitas, dan metode pembayaran yang disediakan. Dilengkapi pula dengan artikel pendukung sebagai referensi.

Pihak Traveloka belum bersedia memberikan komentarnya terkait produk barunya tersebut.

Sebagai direktori, proposisi Manamana kemungkinan besar akan dipersonalisasi agar bisa memberikan rekomendasi yang sesuai dengan selera konsumen. Dibantu pula dengan konten yang bisa memberikan inspirasi para pengguna ketika mereka ada di destinasi wisata.

Hal ini belum bisa dijawab oleh Traveloka Eats, meski informasi yang dipaparkan tidak jauh berbeda, fokus yang disasar adalah menawarkan potongan harga.

Traveloka Eats menawarkan harga promosi dari restoran yang sudah tergabung ke dalam merchant-nya berdasarkan lokasi terdekat konsumen. Untuk melekatkan konsumen, Traveloka menyediakan poin loyalitas khusus yang dapat ditukar.

Kehadiran Manamana, otomatis meramaikan dinamika pemain direktori restoran seperti Zomato, Qraved, dan Pergikuliner. Kendati tampilan masih sederhana dan direktori restoran yang terhubung belum sebanyak kompetitor, tapi Manamana punya kekuatan terhubung di platform Traveloka yang membuka lebih banyak kesempatan bisnis ke depannya.

Melihat dari kiprah Zomato, sebagai pemimpin pasar, semakin melengkapi direktorinya dengan berbagai fitur. Mereka menyediakan program berlangganan untuk konsumen yang ingin mendapat potongan harga dari merchant Zomato.

Perusahaan juga membuat konten video original yang membahas terkait wellness, resep makanan, ulasan makanan, dan sebagainya yang disadur dari berbagai sumber.

Industri kuliner memang selalu menarik untuk digeluti karena tidak bisa dipisahkan dalam kehidupan sehari-hari. Mengutip data yang dihimpun Badan Ekonomi Kreatif dan Badan Pusat Statistik menunjukkan kontribusi sektor kuliner terhadap unit usaha ekonomi kreatif telah mencapai 41% atau Rp410 triliun pada 2017, tertinggi diantara 15 subsektor lainnya.

Pertumbuhan industri kuliner juga cukup stabil dalam beberapa tahun terakhir. Sektor ini menyerap tenaga kerja dalam jumlah besar hingga 8,8 juta orang dan sekarang terdapat 5,5 juta pelaku industri kuliner.

Dari sisi pemodal pun dari modal ventura, mereka semakin melirik potensi dari sektor ini karena masih banyak bisnis F&B tradisional yang berpotensi untuk dikembangkan lebih jauh. Fore dan Kopi Kenangan sering menjadi contoh untuk melihat bagaimana kedai kopi bisa memanfaatkan platform digital untuk pacu bisnis. Alhasil, ini menciptakan suatu model bisnis baru dengan segmen yang dikenal sebagai new economy.

Analyzing Traveloka’s Potential as a Fintech Company

As a well-known unicorn in OTA vertical, Traveloka has now available in seven countries. The service is not only focus in accommodation and transportation. The company business has reached lifestyle and financial segment.

The last-mentioned sector is said to be the main umbrella on all transactions in Traveloka. Traveloka now provides more than 40 payment options, online or offline, including paylater service and insurance products.

The urge to travel, according to some research, has become part of the so-called millennials lifestyle. There are many supporting factors, including the improvement of road infrastructure and internet network, regional and central government’s encouragement to increase economic potential from the tourism sector, also transportation vehicles and various accommodations.

In other words, combining tourism with a big ticket size and financial needs become the key to provide the “buy now, pay later” service.

Since the establishment in June 2018 to date, Traveloka never reveals the PayLater service achievement, in terms of numbers of distribution, customers, and the bad credit.

However, we can get the picture from PT Pasar Dana Pinjaman (Danamas) as the first partner. Danamas, under the Sinar Mas Group becomes one of the first p2p lending to obtain license from OJK since 2017.

In an earlier interview with DailySocial, Danamas President Director Dani Lihardja revealed in the first year, the total distribution of Danamas through the cumulative figure of Rp1.4 trillion. The biggest contribution came from Traveloka in the amount of Rp1 trillion and the rest was commercial distribution to credit traders.

However, PayLater’s contribution has increasingly decreased by Danamas. In fact, he said it was minimal, although the exact numbers were not mentioned. This condition occurs due to many factors. First, Traveloka PayLater’s target users are mostly non-formal workers, not in line with the vision and mission of the company that targeting the informal and productive segments. As a result, Danamas cannot expand customers for more productive loan needs.

“Traveloka PayLater users are educated customers and the informal sector is not working here because most of them are white-collar. Therefore, this is quite different from our vision and mission to raise the unserved so that they are served, “he said.

Second, the funding source partners for Traveloka PayLater continue to grow. Besides Danamas, there are now Caturnusa, BRI and BNI. Nevertheless, Dani will not stop the cooperation agreement with Traveloka. “From the beginning we were not exclusive, we were willing because the ecosystem is the same as us. Borrowers don’t accept money, if the ecosystem is different, then we don’t want to.”

A good proposition

As a brand, Traveloka PayLater has a strong presence. Also, product diversification and broad function of funds attract lots of parties for cooperation.

In terms of function, Traveloka PayLater loan limits can now be used to pay for all transactions in the application, also in offline outlets thanks to the realization of cooperation with BRI in the physical form. All transactions through the card will be recorded in the application, there’s even a feature for paying bills.

Traveloka PayLater co-branding with BRI / Dailysocial

Previously, in October 2019, BRI reportedly explore the potential to invest in Traveloka. Until the news was revealed, no decision had been announced to the public.

After BRI, other state-owned banks have followed to have cooperation with Traveloka, targeting Traveloka PayLater specifically. BNI, as a new source of funds and Bank Mandiri for credit card co-brands without any attachment of the PayLater brand.

The offered facilities are the opportunity to collect more loyalty points from transactions at Traveloka, daily discounts, and other offers from Bank Mandiri merchants. This is Traveloka’s first co-brand with banks to release credit cards.

Traveloka PayLater as a potential unicorn

DailySocial tried to elaborate further on Hendrawan’s statement, but Traveloka’s representatives refused to answer it.

Traveloka's Co-Founder and CEO, Ferry Unardi / Traveloka — Traveloka’s Co-Founder and CEO, Ferry Unardi / Traveloka

See on how Ovo has become the 5th unicorn, it doesn’t mean Traveloka couldn’t catch up.

Quoting from the 2019 Fintech Report, Traveloka occupies the fourth position as the most widely used paylater. The top positions in order occupied by Ovo, Gojek, Shopee. Looking at the awareness, Traveloka occupies the third position, the top position is occupied by Ovo and Gojek.

According to DailySocial observation, on the terms and conditions page, it is explained that the borrowers from Traveloka PayLater are PT Caturnusa Sejahtera Finance and Danamas.

Caturnusa is a rebrand of a finance company that was previously named PT Malacca Trust Finance. They are owned by PT Batavia Prosperindo Finance Tbk before being sold to PT Hermes Global Ventures PTE, LTD in September 2018.

Batavia sold 25 thousand shares to Hermes Global at a nominal value of Rp1 million per share. The transaction value reached IDR27.75 billion. The Indonesian Financial Services Association (APPI) Suwandi Wiratno confirmed that Hermes Global is a sister company of Traveloka.

“Traveloka has opened a multi-finance company, its name is Caturnusa. He bought it from Malacca Trust. In writing, PT Hermes Global Ventures, PTE LTD., Sister company of Traveloka,” he said as quoted by Bisnis.com, (1/28/2019).

With the new name, Caturnusa operates in the same area as the Traveloka headquarters.

Becoming financial company

We can’t obtain any information of all the sources collected by Caturnusa. It does not violate the rules because there is no obligation to publish it unless it is a public company.

The Caturnusa business domain as a lender for Traveloka products also does not violate the rules. In POJK 35 of 2018, OJK explained that finance companies are given the freedom to add variations in financing products, namely multifinance.

Multifinance is the type of financing of goods and/or services required by the debtor for consumption and not for the purposes of business or productive activities within the agreed period.

In this financing, the FSA requires that it must be done by way of finance leases, purchases with installment payments, fund facilities, and/or other financing agreed by the FSA.

In addition to multifinance, in general, finance companies also have other product domains, namely working capital, investment, and other financing activities based on OJK approval.

Finance companies can have many sources of funds besides banks. There are other options, such as channeling, joint financing, issuing debt from MTN (medium-term notes), bonds, syndication on / offshore, to IPO.

Because Traveloka PayLater already has a business model, Caturnusa doesn’t have to bother looking for business models that conventional financing companies do. All business processes are done online. Another story, if there is a change in business strategy for product diversification.

Playing in the online business should not be a new field for finance companies. Akulaku can be the closest example in illustrating the potential of a finance company that brings a digital approach to its business processes.

The company has three licenses, the p2p lending (Asetku), e-commerce (Akulaku Silvrr and Akugrosir), and financing (Akulaku Finance). In fact, Akulaku has also become one of the shareholders in Bank Yudha Bhakti.

As we can see, Akulaku diversified access for its funding to be channeled back through a series of loan products. Not only consumer-based loans, Akulaku said that they currently receive loans for cars and working capital that are more productive.

In terms of industry, OJK sees the incumbent players have begun to implement. Head of OJK 2B IKNB Supervision Department Bambang W. Budiawan sees that from 57 listed companies, it started to show positive progress that leads to digital. Also, given the digital transformation requires a minimum cost and standard.

“Gradually [its development]. It doesn’t matter, if there is a large amount of capital, but when it’s on-budget, it will be gradual because this will need costs and has [to meet] minimum standards,” Bambang explained to DailySocial.

According to him, fintech lending and financing have different consumer segments, although there are several products that overlap. Having a finance company is not easy because there are many requirements that must be obeyed, including having to be able to maintain the gearing ratio, which is the ratio between the number of loans compared to own capital. The company must also have large capital with a minimum equity of Rp100 billion.

–
Original article is in Indonesian, translated by Kristin Siagian

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