1. Startups

Kuelap Serves Cooperative Digitization Platform

Kuelap already has 100 cooperative partners; plans to expand in Central Java, East Java, Bali, and Jakarta

The unorganized management of cooperatives in Indonesia is the basis for Cakes to build a platform that digitizes the business processes within it. Based in Seattle, United States of America, Indonesia was the first country in Asia to be visited by Kuelap.

Besides Indonesia, Kuelap has also been present in India and several countries in South America. Indonesia is the right country to visit, seen from the number of cooperatives in remote areas to big cities.

The current large number of cooperatives is not accompanied by the adoption of the right technology. There are still many cooperatives who then use conventional methods such as writing all reports manually until they are still using fillet Excel. Kulap is here to offer technology such as reports real-time, dashboards supported by BI Analytics to security assurance.

It is hoped that Kuelap can apply the right standards for cooperatives, so that they can maintain their income and utilize technology. Currently, Kuelap is registered, supervised, and collaborating with the Ministry of Cooperatives and SMEs and the Indonesian Consortium for Cooperatives Innovation (ICCI).

"We officially launched at the end of 2019 in Indonesia. However, due to the pandemic, we have difficulty focusing on business. Unlike other platforms that offer paylater until P2P, we focus on savings and loan cooperatives," said Chief Revenue Officer of Kuelap Indonesia Hanung P. Semiartedy.

Previously there was Djoin and Kodi which also introduces itself as a SaaS startup that provides services for cooperative managers. Djoin itself recently announced the acquisition of pre-start funding from a number of angel investors, the value of which reached 14,5 billion Rupiah.

Factors of trust and kinship Indonesian cooperatives

Cooperatives in Indonesia, which are mostly run by organizations, communities, and local residents, are still the first destination for MSME actors who need additional capital and other needs. However, there are still many of these cooperatives that run their businesses relying on trust and kinship factors. This means that there is no firmness or punishment which is then given to cooperative members if they violate.

With features dashboards which can be managed directly by the cooperative, all recording reports and other relevant information can be viewed directly. Thus in the future it will be possible for cooperatives to obtain loans from outside parties such as banks and financial institutions finance, if their books are neat and orderly.

Meanwhile, for members, using the mobile application, they can process payments, purchases and others similar to applications owned by banks.

"For monetization we apply to investors or those who provide loans. Meanwhile for members for each loan they can get we charge a commission of around 1%," said Hanung.

Currently, Kuelap has around 100 cooperatives that have formed partnerships with them. After initially focusing on the West Java region, this year Kuelap began to focus on acquiring more cooperatives and their members in Jakarta, Central Java, East Java and Bali.

For those who are interested in joining Kuelap, it is certain that they have official permission, including in the category of cooperatives that are active and often hold member meetings to audit reports. Currently, Kuelap does not serve sharia cooperatives.

The systems offered include the convenience of managing cooperatives, the convenience of monitoring the health condition of cooperatives through various accurate indicators, digital transaction service applications and applications for cooperative administrators that can be accessed online. online and offline, including remote areas.

"Since the beginning we have conducted education to make it easier for cooperatives and their members to use Kuelap technology. This year we have plans to aggressively expand our services," said Hanung.

Expand collaboration with government and other parties

To be able to expand services, Kuelap has plans to continue to establish strategic collaborations with the government. On the other hand, strategic cooperation with startups to technology companies will also continue to be carried out, to enrich the mobile applications used by their members.

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Asked what makes Kuelap different from other similar platforms, Hanung emphasized that even though it has almost similar features, with their BI Analytics technology, it can help investors to do business. credit scoring cooperative members who need capital.

Kuelap's own products and services are specifically designed to provide convenience and assist the digital transformation process for cooperatives. Kuelap is committed to continuing to support the Go Digital Cooperative. Kuelap provides service products that accelerate the growth of cooperatives in Indonesia through convenience for cooperatives and cooperative members.

"In addition to expanding to several regions, Kuelap Indonesia also has plans to raise funds. We are currently under the auspices of the Mifos Initiative, which was founded by one of the top executives at Microsoft, Paul Maritz," said Hanung.

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