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Indonesian Startup MAKMUR Raises Seven-Digit Seed Funding to Advance Features and People Development

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Indonesian Startup MAKMUR Raises Seven-Digit Seed Funding to Advance Features and People Development

Indonesia-based investment app, MAKMUR, has secured a seven-digit seed funding round, led by BEENEXT, with participation from Kinesys Group, Trihill Capital, and notable angel investors including Yiping Goh (Quest Ventures’ partner), Edward Tirtanata (Kopi Kenangan’s CEO), Vidit Agrawal (GajiGesa’s CEO), and Andrew Lee (former unicorn executive). MAKMUR will use the capital to expand its features and product portfolio, as well as to hire new talented individuals and people development.

MAKMUR is a technology-based investment app that allows users to set their financial goals and reach them through long term investing. Similar to Betterment in the U.S., it has goal-based investing feature so users can easily invest towards multiple goals, such as emergency fund, retirement fund, and children’s education fund with the ease of using just one app.

The app also provides a Robo Advisory feature that adapts to users’ risk tolerance, as well as investment horizon, and prevailing economic conditions. This proprietary dynamic asset allocation technology helps users invest optimally regardless of whether the market is bullish or bearish.

Financial advisory are often available only for high-net worth investors. However, MAKMUR digitizes and democratizes such services to be completely accessible and affordable for all Indonesian citizens.

Sander Parawira, founder and CEO of MAKMUR, pointed out, “Many people think that investing in mutual funds is difficult, in which they have to go through a complicated account opening process and prepare a large amount of capital. Supported by OCR (Optical Character Recognition) and face recognition technology, we offer an exceptional account opening experience that is simple and swift. It only takes five minutes to complete the account opening process, with an initial capital starting from IDR 10,000 (USD 0.70) and no transaction fee.”

Faiz Rahman, BEENEXT’s partner, added “We are witnessing a new revolution in Indonesia where mass market come to realize the importance of investing. MAKMUR enables retail investors to do prudent long-term investing to build wealth sustainably. We are very excited about MAKMUR and we look forward to having a long-term partnership with MAKMUR as we believe in their mission to make investing easier, cheaper, and more sustainable for Indonesians.”

MAKMUR App to help build a robust inclusive financial ecosystem in Indonesia

MAKMUR app is the brainchild of Sander Parawira, a Stanford University’s graduate, formerly the Head of Quantitative Strategies of Wall Street’ leading quantitative trading firm, Virtu Financial. Prior to Virtu, Sander was a Software Engineer at Facebook.

Sander built the app with the aim to improve financial literacy and inclusions among Indonesian citizens. “Indonesia’s capital market investor has experienced a significant growth, however, the number of investors today in Indonesia is still fewer than 2% of the population. Following the seed funding round, we are hoping to bridge the financial inclusion gap while improving financial literacy across the country.”

Ever since the company obtained official license from Otoritas Jasa Keuangan (OJK) in February 2021, it has partnered with ten leading investment managers. They include Avrist Asset Management, Bahana TCW Investment Management, BNI Asset Management, Capital Asset Management, Eastspring Investment, FWD Asset Management, Principal Asset Management, RHB Asset Management, Syailendra Capital, and Trimegah Asset Management.

MAKMUR app is available on both Play Store and App Store for Android users and iOS users respectively. For further information, please visit https://www.makmur.id

About MAKMUR

MAKMUR is a start-up that provides technology-based investment app to help Indonesians plan their financial goals and invest for the long term easily, safely, and sustainably. All investment plans are designed by experienced investment professionals based on quantitative research and big data. MAKMUR is established by a former Head of Quantitative Strategies at Virtu Financial, a leading quantitative trading firm in Wall Street and an ex Facebook Software Engineer. The team has a cumulative 30 years experience in the investment and technology space in reputable companies such as IndoPremier, Traveloka, and IBM and are graduates from the best universities in the world such as Stanford University, UC Berkeley, Columbia University, and Purdue University.

About BEENEXT

BEENEXT is a Venture Capital fund managed by serial entrepreneurs that focuses on assisting founders with its operational experience, network, trust, unique perspectives, and the capital. The team invests in early-stage tech start-ups that are focused on building the new digital platforms driven by the data network. BEENEXT aims to establish a platform of founders, by the founders and for the founders across the globe, primarily in South East Asia, India and Japan. Since its establishment in 2015, the team has invested in over 200 companies globally.

SOURCE PT Inovasi Finansial Teknologi (MAKMUR)

Funding

Five Ways Software Can Be Used for Crowdfunding

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crowdfunding

Having people support a business idea and are willing to invest in it is a great accomplishment. This is known as crowdfunding, and many entrepreneurs are turning to the internet to get the proper funding to go after their dreams. There is a wide array of crowdfunding platform software that can be used to advertise the mission and gather like-minded people together who are willing to take a chance on it. This is very beneficial for those looking to start businesses.

1. Accessibility

Using software for crowdfunding is great because it is possible to reach a larger target audience. It is no secret that the internet is growing on a daily basis. Nearly everybody uses it and discovers many new things online. Marketing the idea this way by using a platform is a great way to remain organized and to garner the right kind of attention. Word of mouth is something that begins to happen when people think an idea is worthwhile. They will start telling others about it.

2. Personalization

When using a crowdfunding platform software, it is possible to customize the experience. Target audiences can be selected and the right messages are able to be posted to convince people that it is a worthy idea. This is great because this is what will set the business apart. In any industry, there is a lot of competition and similar ideas, but what matters most is expressing why this one is different. These platforms offer people ways to set their ideas apart.

3. Reporting

Each time a donation is made, there is an automatic digital record of it. This is important because it holds business owners accountable. They are able to see exactly who is contributing and how much. This is also a great opportunity to send out thank you messages once the end goal has been achieved. People enjoy being noticed for their contributions and will be much more likely to follow along on the rest of the journey if they feel they are being recognized for their contributions.

4. Progress

Using an online platform to keep track of crowdfunding also presents a unique opportunity to offer progress updates. This not only holds business owners accountable but also shows the contributors what progress is being made. They will feel their efforts are worthwhile and that donating was a good decision. It is always nice to be kept in the loop, and it is very simple to do this when using software to organize the entire mission. This also offers a great way to stay true to a given timeline, which is very helpful in terms of productivity.

5. Results

If one thing is certain, using an online platform for crowdfunding garners much more effective results than asking people to donate individually. For one, it takes far less time to put out a mass message to potential contributors than seeking out people and messaging them one by one. This is just one example of how technology helps entrepreneurs regularly. Taking advantage of these platforms is recommended for any aspiring business owners out there who need a little help to get the idea off the ground.

Crowdfunding is a newfound way to get extra help when it is needed. Many entrepreneurs use it and are successful with it regularly. It is simple to begin using a platform to organize these efforts and keep track of all the progress being made. People like knowing what their contributions are going toward, so being given a tangible way to track this is very valuable. It is a beneficial method that yields great results.

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Funding

Future™ Secures $5.3M Seed Investment to Pay You to Fight Climate Change.

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Future™ Secures .3M Seed Investment to Pay You to Fight Climate Change.

The fast-growing fintech is building the most rewarding way to pay for consumers and the planet.

Future, the movement to accelerate the shift to a low-carbon economy through financial rewards, has raised $5.3M in seed funding. Led by Accomplice, with participation from Active Impact Investments, Techstars Ventures, Urban Impact Ventures, Climate Capital, and the author, activist, and host Baratunde Thurston.

Future is empowering consumers to reduce their carbon emissions and earn extra cash. While most cards give the highest rewards for activities with a high carbon footprint, like flying or filling up your tank, FutureCard Visa Card gives its highest rewards in the fast-growing low-carbon economy. Future offers up to 6% cashback on greener alternatives to everyday spending across transportation, food, fashion, devices, beauty, and furniture. There’s no interest, and Future doesn’t use members’ points to plant trees or buy other carbon offsets. Instead, the focus is on making low-carbon products and services more readily accessible for families and individuals across America.

“We are thrilled to lead this investment in Future,” said Ryan Moore, Co-founder of Accomplice. “More and more consumers across the country are looking for simple and rewarding ways to do right by our planet. Future is building a new category of financial product that helps them do just that.”

Future was founded in the fall of 2021 by Jean-Louis Warnholz and Kamal Bhattacharya and has since grown to over 20 team members across product and engineering, growth, partnerships, and operations. “There’s a common misconception that reducing carbon emissions in our day-to-day life is hard and expensive,” said Jean-Louis Warnholz, Future’s CEO. “Future is on a mission to change that by connecting our members with brands, products, and services that are good for your wallet and good for the planet.”

With this seed round of funding, Future will launch even more rewarding ways to tackle climate change and will add more game-changing brands to the rewards ecosystem. Current FuturePartners, with elevated 6x rewards and weekly raffles, include Back Market, Rad Power Bikes, Just Salad, Ministry of Supply, For Days, Earth Hero, Fulton, Everlasting Wardrobe, and Hilos. To learn more about Future and to reserve a FutureCard, click here.

“There has been so much innovation in expanding low-carbon choices for consumers, from plant-based protein and circular fashion to electric mobility,” said Mike Winterfield, Founder of climate VC Active Impact Investments. “Future is leveraging AI to maximize the benefits of the emerging low-carbon economy for consumers and the planet.”

About Future™: Future is building a payments and rewards ecosystem for the low-carbon economy, inspiring the shift to low-carbon products and services with outsized financial incentives. Future pays consumers to reduce their carbon footprint. Future launched the FutureCard Visa Card, initially with 5% cashback for climate-friendly purchases and a proprietary FutureScore to track individual impact on the climate and get personalized recommendations to earn more cash and emit less carbon.

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Funding

LiveScore Group to Accelerate Global Expansion Following £50 Million Strategic Investment from Ringier AG

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LiveScore Group to Accelerate Global Expansion Following £50 Million Strategic Investment from Ringier AG
  • Ringier AG’s investment values LiveScore Group‘s gaming and media business at £500 million
  • New strategic partnership unites two of the most exciting players in global sports media
  • Ringier continues to strengthen its sports growth strategy via its new dedicated sports vertical Ringier Sports Media Group
  • LiveScore Group is home to LiveScore, LiveScore Bet and Virgin Bet, three pioneering brands within the sports and gaming industries

LiveScore Group and Ringier AG have today announced a landmark strategic partnership, with the Swiss-based media and technology company making a substantial investment in LiveScore Group’s rapidly growing sports media and gaming business.

The deal will fuel the expansion of the industry-disrupting business which incorporates leading brands LiveScore, LiveScore Bet and Virgin Bet. LiveScore Group is a rapidly scaling business, which has made significant share gains in highly competitive markets. This has been achieved through leveraging its differentiated customer acquisition funnel with bespoke gaming integrations across its LiveScore assets.

As the latest evolution within one of Europe’s pre-eminent media businesses, the recently created Ringier Sports Media Group division boasts a thriving portfolio of innovative businesses which are changing the way global audiences interact and engage with sport. The new strategic investment in LiveScore Group will specifically accelerate growth across key Central and Eastern European territories, a notable strength of Ringier’s sports media assets.

Following the investment, Stilian Shishkov will join the Supervisory Board of LiveScore Group. Shishkov is currently Senior Partner of the Ringier Sports Media Group, as well as founder and CEO of Ringier`s Sportal Media Group in Bulgaria.

The significant new investment comes after three-years of eye-catching performance for LiveScore Group, founded in 2019 by former Gamesys Chairman and co-founder Noel Hayden, and led by industry veteran Sam Sadi.

Sam Sadi, CEO LiveScore Group: “This is a hugely significant day for LiveScore Group, as we take a significant step forward following a £50 million strategic investment from Ringier which values our business at £500 million. Ringier, with its Sports Media Group, is the perfect partner as we look to accelerate our expansion into Central and Eastern European territories, given their outstanding expertise, assets and relationships.”

Noel Hayden, Executive Chairman LiveScore Group Board: “I’m excited to see two of the most innovative sport and media businesses form a game-changing new relationship. This is a breakthrough moment which will allow LiveScore Group to maximise strategic opportunities together with Ringier, and to deliver better experiences and value for sports fans around the world.”

Marc Walder, CEO Ringier AG: “From delivering real-time sports scores and free-to-air live streams to millions of global users, to offering the most innovative and trusted sportsbook betting opportunities, LiveScore Group has demonstrated it is already a true industry leader and will be a fantastic business partner for Ringier. Together, we aim to enhance, and increase the enjoyment of sport, through innovative products, and immersive experiences under the operational lead of the Ringier Sports Media Group. With LiveScore Group’s support we will better understand the way people feel about sport and what it means to them. Our vision is to fuel the fans’ passion for sport.”

Robin Lingg, Chairman of the Ringier Sports Media Group Supervisory Board: “Sports media is THE place where sports audiences, athletes and advertisers meet. Within its three-month existence, Ringier Sports Media Group has very purposefully put into practice its founding promise, to unite leading digital sports media brands under its umbrella. The participation in LiveScore Group is another decisive step to develop innovative products based on common technologies in the future and to benefit from the exchange of know-how. That a leading business such as LiveScore Group has agreed to work closely with us in strategic partnership is truly a tribute to our vision of sports media at Ringier.”

The Ringier Sports Media Group includes the sports brands of Sportal Media Group and Digital Ventures OOD in Bulgaria, Gazeta Sporturilor in Romania, Sportal.rs in Serbia and Pulse in Africa. The group`s portfolio is set to grow strongly in the coming months through mergers and acquisitions as well as newly launched products.

Moelis & Company LLC acted as financial advisor and CMS acted as legal advisor to LiveScore Group. DLA Piper acted as legal advisor and KPMG as financial advisor to Ringier AG.

About LiveScore Group

LiveScore Group is home to LiveScore, LiveScore Bet and Virgin Bet, three of the most exciting brands in the sports and gaming industries today. The Group was demerged from the Gamesys group of companies (now part of Bally’s Corporation) in September 2019. LiveScore was previously acquired in 2017 as a means of moving into the sports media industry, while Virgin Bet was launched in 2019 following a partnership with Virgin to enter the sports betting market. Today, LiveScore Groups sits within the Anzo Group of companies.

Whether it is LiveScore delivering real-time sports scores or free-to-air live streams to its users across 200 territories, or LiveScore Bet and Virgin Bet offering innovative and trusted sportsbook betting opportunities, we bring our audiences closer than ever to the sports they love with our best-in-class products.

  • About LiveScore

    An early pioneer in the online sports media space, LiveScore™️ was founded in 1998 and is one of the world’s leading sports updates and streaming services. Following its acquisition in 2017, the LiveScore business was subsequently demerged into the Anzo Group in 2019.  With millions of global users across over 200 territories, it’s long been an essential part of the match-day experience for football fans who rely on the service to provide the simplest, fastest, and most reliable updates on matches that matter to them.

  • About LiveScore Bet

    LiveScore Bet™, is a sportsbook offering customers in the UK, Ireland, and Netherlands a new and improved betting experience. Building on the existing user relationship with the trusted LiveScore brand that is already a core part of the live sport experience, LiveScore Bet seeks to deliver a best-in-class product and represents a new opportunity for customers to bet responsibly.

  • About Virgin Bet

    Virgin Bet™ was launched in the UK in May 2019. With access to a huge range of betting markets across all the top sports, as well as the nation’s most popular casino products, Virgin Bet delivers a top-quality experience for its customers and has the perfect line-up to disrupt the sportsbook industry. VIRGIN and the Virgin Signature Logo are trademarks of Virgin Enterprises Limited and are used under licence.

About Ringier

Ringier is a Media- and Technology Company Swiss by nature. The Group includes over 130 companies operating numerous leading media brands, digital platforms, and marketplaces. Ringier addresses every walk of life and touches the lives of millions of people – every day around the globe in 19 countries. 73 percent of operating profit comes from the digital sector. This puts Ringier in the group of leading European media companies. The family-owned enterprise believes in entrepreneurship, collaboration, innovation, trust and courage for nearly 190 years. In a world that’s becoming ever more complex and challenging, Ringier`s mission is to keep interest alive and to ensure that customers, users, or readers never lose sight of what connects them:

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