Bukalapak is set to launch BukaReksa on the third week of January
Set to be launched on the third week of January, the new platform is a result of Bukalapak’s partnership with finance portal Bareksa.
According to information on BukaReksa site, the service is intended for “investors with low risk profile and short term investment plan,” making it an ideal platform for beginners.
To use the service, Bukalapak users can use their usual account though they will need to provide more detailed information and receive a confirmation from the platform before they can begin transaction. Users can start investing with as low as IDR10,000 (US$0.74), in accordance to the minimum investment required by CIMB-Principal BukaReksa Money Market.
Launched in 2015, Bareksa claimed to be the first integrated online marketplace for mutual fund in Indonesia. Apart from being a platform to facilitate online transaction of mutual fund, the Jakarta-based company also provides market data, investment tool, as well as analysis and news for investment.
Bareksa is led by Ady F. Pangerang and Karaniya Dharmasaputra, seasoned professionals in the field of technology and media.
Apart from access, financial literacy has often been dubbed as the main challenges that Indonesian fintech industry is facing. According to a recent survey by DailySocial and Indonesian Fintech Association, despite recent spike in the number of fintech startups operating in the country, Indonesian customers have relatively low awareness of fintech, with only 28.34 per cent of respondents claiming to be familiar with the term ‘fintech’ and only 18.46 per cent of them are actively using a form of fintech services.
More on this story as it develops.
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