1. Startups

Bizhare Gets Pre-Series A Funding Worth 7,3 Billion Rupiah

The end of this year will again raise the round of series A

Startups equity crowdfunding (ECF) Bizhare secured pre-series A funding of $520 thousand (approximately 7,3 billion Rupiah) led by AngelCentral. Previous investors who participated in this round, they were GK Plug and Play, GDILab, and Billy Boen.

To DailySocial, Founder & CEO of Bizhare Heinrich Vincent said, there was one investor from an Indonesian corporation who also invested in Bizhare, but his identity could not be revealed because it was still in the finalization stage. According to him, the fresh funds will be used to expand the company's market share throughout Indonesia, develop technology crowdfunding securities (SCF).

“We are also preparing an application mobile devices which is planned to be released this year," he said, Tuesday (11/5).

In previous interview, he revealed that the company is interested in upgrading its license to SCF because there are more potential funding alternatives that SMEs can take advantage of. In addition to playing in ECF, Bizhare has also released a Secondary Market service last February.

This service is a strategy to increase the liquidity of the issued shares of the issuer, as well as one of the exit strategy for investors. Heinrich explained, the benefits of the Secondary Market for SME publishers themselves are to re-buy shares (buyback) their shares in the Secondary Market, if there are investors who want to sell their shares.

In this way, the democratization of the financial services system will be realized mature such as the capital market, which initially could only be accessed by the upper middle class, is now accessible to SMEs throughout Indonesia. Investors can make demand transactions (bid) and offer (offer) stock safely and conveniently.

“The Bizhare Secondary Market is opened for issuers that have been running for 1 year, registered with KSEI, and/or according to the resolutions of the GMS of Publishers. The Secondary Market will be opened every 6 months with the Secondary Market opening for 10 working days,” explained Vincent.

Vincent is optimistic that SCF will make it easier for SMEs to choose the type of funding that suits their preferences, either stocks, bonds or sukuk. In terms of requirements, these securities issuers are not only limited to PT, but also cooperatives, CVs, and so on.

"We will also continue to present stock offerings for a row of increasingly attractive and diverse SME businesses. Currently, Bizhare is opening funding for various businesses that can be invested starting from IDR 50 thousand per share. We are optimistic that many young people's business works can grow rapidly thanks to our services as SCF so that Indonesia's economy will grow even more extraordinary."

Bizhare targets this year to attract more than 200-300 SMEs to open funding through Bizhare. In terms of investors and the total investment value is expected to grow between 5-10 times. This target will be achieved, one of which is targeting SMEs from various businesses, not just franchises.

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“From the product side, we will soon launch a new feature, namely business profile, so that prospective publishers can more easily apply for funding and profile listingher in Bizshare. In addition, launching applications for Android and iOS which are targeted for release this year," he concluded.

Accumulated since its establishment three years ago, Bizhare has had more than 60,800 investors from all over Indonesia, with a total investment value of IDR 34,3 billion to 46 SME businesses.

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