#Asia Rejoice, Indonesian students: New startup DanaDidik aims to help you get loans


The crowdfunding platform targets vocational school or university students


Today marks the launch of a new Indonesian crowdfunding platform DanaDidik, which focusses on giving loans for students. The startup is believed to be the first of its kind in the country.

With the aim of providing equal education opportunities to every student, DanaDidik facilitates education loan applications by linking students with sponsors or lenders. As in any crowdfunding platform, all the students have to do is submit loan application, get it reviewed, then post a profile and Youtube campaign to attract sponsors.

Focussing on vocational schools and university students, DanaDidik serves as a ‘social alternative investment’ that can provide return and self-recycle. Its key features are long-term loans; students only have to pay their loans after they have graduated, within a 24-month period.

According to a written statement, the startup was founded as a solution to conventional loans provided by banks and other financial institutions, which typically offer credit cards or unsecured loans to fund education. This mechanism often does not work well for borrowers as loan repayment usually starts the next month, making it a burden for students.

“The solution is not lending to the unbankable. It’s all about systematically evaluating risk & forecasting present value of high earners,” said Dipo Satria Ramli, CEO and Co-Founder.

“Ideally, we want to build ‘Zola’s algorithm’ from Captain America’s movie. Predictive analysis using historical and online data to forecast earning potential,” he added.

Also Read: This startup wants to support Indonesian youths’ social projects

Like many other startups, the inspiration to begin the business started from the founders’ personal experiences. Co-Founder and CTO Januar Sudharsono recalled his struggle to fund his university education.

“When I was in college, I had to live semester-after-semester with no certainty whether I can afford to graduate later,” he said.

Data stated that only 10 per cent of Indonesia’s workforce have a higher degree. For those who are struggling to fund their education, 73 per cent of them borrow money from external parties, and in many cases–loan sharks.

The DanaDidik platform is currently in public beta. Four months after its soft launch, it claimed to have secured 2,200 applicants.

The startup was founded by Ramli, Sudharsono, and Eka Ginting, and is currently run by a team of five.

P2P lending platforms seem to be a huge trend in Indonesia lately, with the recent launch of Modalku (a lending platform for small businesses) recently. Prior to that, the country also saw the launch of GandengTangan, which focusses on social entrepreneurship.

Echelon Indonesia returns to Jakarta this April! Save over 35% off your tickets with promo code Empower10 exclusive to e27 readers only! Tickets available at http://ift.tt/1T0g7ts


The post Rejoice, Indonesian students: New startup DanaDidik aims to help you get loans appeared first on e27.

from e27 http://ift.tt/1L4JN7x

Ce contenu a été publié dans #Asia par Startup365. Mettez-le en favori avec son permalien.

A propos Startup365

Chaque jour nous vous présenterons une nouvelle Startup française ! Notre pays regorge de talents et d'entrepreneurs brillants ! Alors partons à la découverte des meilleures startup françaises ! Certaines d'entre elles sont dans une étape essentielle dans la vie d'une startup : la recherche de financement, notamment par le financement participatif (ou crowdfunding en anglais). Alors participez à cette grande aventure en leur faisant une petite donation ! Les startups françaises ont besoin de vous !