Singapore-based fintech company Crowdo (previously Crowdonomic) officially announced the launching of its Peer-to-Peer (P2P)-based crowdfunding platform dedicated for startups and SMEs in Indonesia. This is the company’s next step after previously thrived in Malaysia, managing to be a Singapore-based fintech startup that passed the regulation of establishing a equity-based crowdfunding platform in the country.
Crowdo’s P2P service is targeted to facilitate businesses which are yet to be covered by traditional financial services (bank loan) with capital loan. According to Crowdo’s research, there are at least 48 percent of total SMEs in Indonesia have yet enjoyed such privilege, with $27,5 million of total value to be pursued.
The platform is in its beta version at the moment, and will soon to be ready for public by the end of this year. Crowdo’s team are currently in the stage of inviting plenty of investors to be part of the project. So far, a strong interest has been shown by SMEs and investors in Singapore. The team claimed that there are at least 200 startups and SMEs that’ve been successfully funded.
“Our client is business that has a strong payment capability, with no access to traditional capital loan because of the lack of connection with existing financial institution. Crowdo’s P2P loan is expected to be a strong enabler for business growth in Southeast Asia since it gets through traditional financial services and provides the convenience investors desire by optimizing many processes,” said Crowdo’s Co-Founder and CEO Leo Shimada.
By offering equity and debt-based crowdfunding system, Crowdo becomes the first crowdfunding platform in Southeast Asia that presents funding services with more complete options.
Crowdfunding business model indeed is of the interests of many startups. Mailbird, Tinker Games and some other startups have successfully secured funding out of this system. The model is very captivating that Indosat presents its own crowdfunding platform called Crowdtivate for startups in Indonesia. Some other systems also capture the attention of many in Indonesia, from local platform Wujudkan to global ones like Kickstarter.