{"id":156,"date":"2020-12-14T00:00:00","date_gmt":"2020-12-14T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-151-underserved-indonesians-to-gain-access-to-more-mutual-fund-investment-options\/"},"modified":"2021-07-28T05:23:09","modified_gmt":"2021-07-28T05:23:09","slug":"durians-daily-151-underserved-indonesians-to-gain-access-to-more-mutual-fund-investment-options","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=156","title":{"rendered":"Daily Markup #151: Underserved Indonesians to gain access to more mutual fund investment options\u2026"},"content":{"rendered":"<p><strong>License to serve<\/strong><\/p>\n<ul>\n<li>500-backed Indonesian e-commerce startup <a href=\"https:\/\/www.bukalapak.com\/\" target=\"_blank\" rel=\"noopener\">Bukalapak<\/a>\u2019s fintech subsidiary, Buka Investasi Bersama (BIB), has <a href=\"https:\/\/kr-asia.com\/bukalapak-fintech-subsidiary-sells-20-stake-to-ashmore-indonesia\" target=\"_blank\" rel=\"noopener\">sold<\/a> a 20% stake to Ashmore Asset Management Indonesia for US$3.5 million.<\/li>\n<li>Ashmore Indonesia is an investment management firm affiliated with Ashmore Group, headquartered in London.<\/li>\n<li>BIB was <a href=\"https:\/\/e27.co\/bukalapak-launches-new-fintech-unit-buka-investasi-bersama-20201006\/\" target=\"_blank\" rel=\"noopener\">launched<\/a> in October this year. \u201cWe hope to provide accessible investment solutions for all, erasing the stigma that investment products are only meant for some parts of the society,\u201d said BIB\u2019s President and CEO Teddy Oetomo.<\/li>\n<li>BIB was <a href=\"https:\/\/kr-asia.com\/bukalapak-launches-new-fintech-subsidiary-buka-investasi-bersama\" target=\"_blank\" rel=\"noopener\">issued a license<\/a> to sell mutual funds by the Financial Services Authority of Indonesia, making it the first e-commerce platform in Indonesia to receive such a license.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"910\" data-height=\"580\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db6a4a711.png\"><figcaption class=\"wp-caption-text\">Credit: Istimewa<\/figcaption><\/figure>\n<ul>\n<li>As part of the partnership, BIB will launch four of Ashmore\u2019s mutual fund products on its platform: equity mutual funds, small and mid-cap mutual funds, flexible-duration fixed income mutual funds, and low-duration dividend-paying fixed income mutual funds.<\/li>\n<li>Despite the pandemic, the number of mutual funds investors continued to rise, growing 14% per year in the last three years, <a href=\"https:\/\/www.bareksa.com\/berita\/reksa-dana\/2020-10-20\/jumlah-investor-reksadana-terus-melesat-di-tengah-pandemi-hampir-tembus-26-juta\" target=\"_blank\" rel=\"noopener\">according<\/a> to the Indonesian Central Securities Depository (KSEI).<\/li>\n<li><a href=\"https:\/\/www.bareksa.com\/berita\/reksa-dana\/2020-10-20\/jumlah-investor-reksadana-terus-melesat-di-tengah-pandemi-hampir-tembus-26-juta\" target=\"_blank\" rel=\"noopener\">As of September 2020<\/a>, the number of investors in this segment reached 2.6 million, with the total recorded managed mutual funds valued at ~US$36.3 billion.<\/li>\n<li>The partnership is expected to increase accessibility to mutual fund investment options for underserved consumers in Indonesia.<\/li>\n<li>At its launch, Oetomo <a href=\"https:\/\/e27.co\/bukalapak-launches-new-fintech-unit-buka-investasi-bersama-20201006\/\" target=\"_blank\" rel=\"noopener\">shared<\/a> that BIB aims to register at least 500,000 mutual fund investors in 2021.<\/li>\n<\/ul>\n<p><strong>A formidable force in pharma<\/strong><\/p>\n<ul>\n<li>Founder and CEO of 500-backed <a href=\"https:\/\/www.mclinica.com\/\" target=\"_blank\" rel=\"noopener\">mClinica<\/a> Farouk Meralli was featured in a <a href=\"https:\/\/www.indo-tekno.com\/podcast\/episode\/4ac5f1ac\/the-future-pharmacy-farouk-meralli-of-mclinica\" target=\"_blank\" rel=\"noopener\">podcast<\/a> with Indo Tekno, where he shared how the startup\u2019s mission to solve the fragmented pharmaceutical industry led it to becoming a leading digital health platform in Southeast Asia.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1200\" data-height=\"801\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db6b10201.png\"><figcaption class=\"wp-caption-text\">Credit: Farouk\u00a0Meralli<\/figcaption><\/figure>\n<ul>\n<li>According to the podcast, mClinica currently connects over 170,000 pharmacy professionals from 40,000 pharmacies across 6 countries in the region, reaching over 150 million patients.<\/li>\n<li>Having worked at established multinational pharmaceutical companies, Farouk said he learned from experience that the pharmaceutical industry in emerging markets was very fragmented, consisting of small and independent shops that lacked technology and operated largely on pen and paper.<\/li>\n<li>This fragmentation, he shared, was present all across the supply chain from distributors to retailers. So he got the idea to connect everyone together on a mobile app.<\/li>\n<li>mClinica\u2019s goal? \u201cWhat we\u2019re doing is stitching together very large, consolidated industries that exist in the US, but doing them all in a digital first way, and trying to do it in essentially years, as opposed to decades,\u201d he elaborated.<\/li>\n<li>But why pharmacies? Farouk shared patients in Southeast Asia visit pharmacies almost 12 times a year, as opposed to physicians whom they only visit 1.2 times a year. Thus, pharmacies were identified as critical access points to patients.<\/li>\n<li>mClinica\u2019s app <a href=\"https:\/\/www.swiperxapp.com\/\" target=\"_blank\" rel=\"noopener\">SwipeRx<\/a> was born to connect pharmacies on a common platform. This gave \u201cunprecedented access\u201d to stakeholders such as pharmaceutical companies, governments, and non-governmental organizations to reach out to pharmacies.<\/li>\n<li>Through these connections, the startup has rolled out digital campaigns like education, awareness programs, and data collection on behalf of stakeholders.<\/li>\n<li>mClinica\u2019s modus operandi is to always work closely with each country\u2019s Ministry of Health and its agencies. \u201cWe want to enable the ecosystem, rather than disrupt it completely. That in itself is in its own way, its own disruption,\u201d Farouk revealed.<\/li>\n<li>This has enabled SwipeRx to become the first digital channel in many countries for pharmacists to get educated. Pharmacists need to get updated annually in order to get their licenses renewed, and this was traditionally done offline, causing professionals to take time off work and travel to take courses. Through mClinica, they can now take them online on the app. \u201cWe\u2019ve now become the largest education provider for pharmacy professionals in the region,\u201d Farouk said.<\/li>\n<li>In large markets such as Indonesia where pharmacies are spread out, it is difficult for stakeholders to reach out to them with information and products. mClinica enables all this work to be done digitally. \u201cAnd as you can imagine, during COVID, where there\u2019s been even more restriction on in-person visits, the necessity of a platform like this has become even greater,\u201d he added. \u201cIn fact, we did much of the digital response for COVID-19 at the pharmacies.\u201d<\/li>\n<li>Listen to the full podcast <a href=\"https:\/\/www.indo-tekno.com\/podcast\/episode\/4ac5f1ac\/the-future-pharmacy-farouk-meralli-of-mclinica\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db6bbdb34.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.<\/p>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>License to serve 500-backed Indonesian e-commerce startup Bukalapak\u2019s fintech subsidiary, Buka Investasi Bersama (BIB), has sold a 20% stake to Ashmore Asset Management Indonesia for US$3.5 million. Ashmore Indonesia is an investment management firm affiliated with Ashmore Group, headquartered in London. BIB was launched in October this year. \u201cWe hope to provide accessible investment solutions [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[423,339],"class_list":["post-156","post","type-post","status-publish","format-standard","hentry","category-daily","tag-bukalapak-d2","tag-mclinica"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #151: Underserved Indonesians to gain access to more mutual fund investment options\u2026 - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=156\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #151: Underserved Indonesians to gain access to more mutual fund investment options\u2026 - Markup\" \/>\n<meta property=\"og:description\" content=\"License to serve 500-backed Indonesian e-commerce startup Bukalapak\u2019s fintech subsidiary, Buka Investasi Bersama (BIB), has sold a 20% stake to Ashmore Asset Management Indonesia for US$3.5 million. 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