{"id":678,"date":"2020-07-13T00:00:00","date_gmt":"2020-07-13T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-61-bukalapak-turns-merchants-into-banks-reddoorz-is-indonesias-most-considered\/"},"modified":"2021-07-23T07:39:23","modified_gmt":"2021-07-23T07:39:23","slug":"durians-daily-61-bukalapak-turns-merchants-into-banks-reddoorz-is-indonesias-most-considered","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=678","title":{"rendered":"Daily Markup #61: Bukalapak turns merchants into \u201cbanks\u201d; RedDoorz is Indonesia\u2019s most-considered\u2026"},"content":{"rendered":"<figure><img decoding=\"async\" data-width=\"493\" data-height=\"533\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1fqYDf6rn2DMmFLL3_ckzmg.png\"><\/figure>\n<p><strong>Banking on <em>warungs<\/em><\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/www.bukalapak.com\/\" target=\"_blank\" rel=\"noopener\">Bukalapak<\/a>, the 500-backed e-commerce giant, is looking to turn merchants on its platforms into banking agents, <a href=\"https:\/\/www.nytimes.com\/reuters\/2020\/07\/10\/technology\/10reuters-indonesia-bukalapak.html\" target=\"_blank\" rel=\"noopener\">The New York Times<\/a> reports.<\/li>\n<li>Here\u2019s how it works: These <em>warung <\/em>operators will be introduced to a service from PT Bank Mandiri (Persero) Tbk, which is one of Indonesia\u2019s largest lenders.<\/li>\n<li>The partnership is designed to serve consumers without bank accounts, or more than half of the country\u2019s 270 million population, according to the <a href=\"https:\/\/www.worldbank.org\/\" target=\"_blank\" rel=\"noopener\">World Bank<\/a>.<\/li>\n<li>As a result of the partnership, consumers can deposit and withdraw cash at these shops and perform money transfers and payments.<\/li>\n<li>The shops, the bank and Bukalapak will each get a share of fees, CEO Rachmat Kaimuddin says.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"618\" data-height=\"410\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da0b99f72.jpg\"><figcaption class=\"wp-caption-text\">Credit: New York\u00a0Post<\/figcaption><\/figure>\n<ul>\n<li>Last month, Bukalapak and fellow 500-backed ridesharing company Grab together launched <a href=\"https:\/\/dailymarkup.com\/\/durians-daily-40-this-malaysian-startup-is-flourishing-amidst-the-covid-19-pandemic-224ded2f0fc8\" target=\"_blank\" rel=\"noopener\">an initiative<\/a> to empower these MSMEs.<\/li>\n<li>Named GrabKios, it is designed to provide digital products on the Mitra Bukalapak platform which could be sold by kiosk owners and agents to their customers to continue earning and diversifying income amidst the pandemic.<\/li>\n<\/ul>\n<p><strong>The top spot<\/strong><\/p>\n<ul>\n<li>Despite facing an unprecedented situation spurred by the coronavirus pandemic, 500-backed hotel company RedDoorz has been soldering on, with the introduction of new features such as the <a href=\"https:\/\/www.reddoorz.com\/blog\/id\/uncategorized\/reddoorz-hygienepass\" target=\"_blank\" rel=\"noopener\">Hygiene Pass<\/a>, a collaboration between RedDoorz and the Indonesian Public Health Expert Association (IAKMI).<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1024\" data-height=\"683\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da0be9dd5.jpg\"><figcaption class=\"wp-caption-text\">Credit: RedDoorz<\/figcaption><\/figure>\n<ul>\n<li>The aim is to create hygiene and sanitation standardization for the industry as preventive measures during the Covid-19 pandemic. The program also aims to boost travelers\u2019 confidence in hotels.<\/li>\n<li>Its resolve to strive during this difficult period has earned the company the #1 spot for the most considered hotel brand in Indonesia, per latest data from YouGov, the company announced on <a href=\"https:\/\/www.linkedin.com\/posts\/reddoorz_we-are-happy-to-announce-that-based-on-the-activity-6686930576932532224-KrAq\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1280\" data-height=\"396\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da0c42421.jpg\"><figcaption class=\"wp-caption-text\">Credit: RedDoorz<\/figcaption><\/figure>\n<ul>\n<li>\u201cWe take our role as an industry leader with great care and responsibility. Indonesian travelers are putting a great deal of trust in our efforts as evidenced by our brand being listed as the most considered hotel brand in Indonesia even during this crisis by a YouGov BrandIndex research. This further cements RedDoorz well as the leader in the local hospitality industry,\u201d Adil Mubarak, RedDoorz Vice President of Operations said in a statement.<\/li>\n<li>Congrats on the award, RedDoorz!<\/li>\n<\/ul>\n<p><strong>Improving fish and shrimp feeding with IoT<\/strong><\/p>\n<ul>\n<li>500-backed and Indonesia-based <a href=\"http:\/\/www.efishery.com\/\" target=\"_blank\" rel=\"noopener\">eFishery<\/a>, an IoT startup building smart solutions for shrimp and fish feeding, has been awarded a US$100,000 grant as recognition for its efforts in addressing the challenges resulting from the global pandemic.<\/li>\n<li>One of the measures eFishery has taken to help fish farmers in Indonesia is by acting as a middleman. For example, it buys fish from farmers in bulk, freezes them, and distributes them to local F&amp;B outlets and NGOs.<\/li>\n<li>The grant is part of the Unreasonable Impact Covid-19 Response, an initiative set up by Unreasonable Group and Barclays to shed light on companies that have pivoted their businesses to address emerging needs.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1175\" data-height=\"500\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da0c91946.jpg\"><figcaption class=\"wp-caption-text\">Credit: KrAsia<\/figcaption><\/figure>\n<ul>\n<li>Last week, eFishery with 9 nine other recipients, <a href=\"https:\/\/www.linkedin.com\/company\/efisheryid\/\" target=\"_blank\" rel=\"noopener\">shared the \u201cstage\u201d<\/a> at the <a href=\"https:\/\/unreasonablegroup.com\/initiatives\/unreasonable-impact\/covid-global-summit\/\" target=\"_blank\" rel=\"noopener\">Unreasonable Impact Global Summit<\/a> alongside Arianna Huffington, Andrew Yang, Madame Ellen Johnson Sirleaf, and Armando \u201cPitbull\u201d Perez.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1360\" data-height=\"910\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da0cd8fed.jpg\"><figcaption class=\"wp-caption-text\">Credit: The Jakarta\u00a0Post<\/figcaption><\/figure>\n<ul>\n<li>Founded in 2013, eFishery focuses on creating tech-based solutions for fish and shrimp farming, including a smart feeder, cloud-based dashboard and data platform. These help farmers deal with risk management, supply inefficiencies, lack of financing and market access.<\/li>\n<\/ul>\n<hr>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da0d38020.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<hr>\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>Banking on warungs Bukalapak, the 500-backed e-commerce giant, is looking to turn merchants on its platforms into banking agents, The New York Times reports. Here\u2019s how it works: These warung operators will be introduced to a service from PT Bank Mandiri (Persero) Tbk, which is one of Indonesia\u2019s largest lenders. The partnership is designed to [&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":[354,423,351,375],"class_list":["post-678","post","type-post","status-publish","format-standard","hentry","category-daily","tag-bukalapak","tag-bukalapak-d2","tag-efishery","tag-reddoorz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #61: Bukalapak turns merchants into \u201cbanks\u201d; RedDoorz is Indonesia\u2019s most-considered\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=678\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #61: Bukalapak turns merchants into \u201cbanks\u201d; RedDoorz is Indonesia\u2019s most-considered\u2026 - Markup\" \/>\n<meta property=\"og:description\" content=\"Banking on warungs Bukalapak, the 500-backed e-commerce giant, is looking to turn merchants on its platforms into banking agents, The New York Times reports. Here\u2019s how it works: These warung operators will be introduced to a service from PT Bank Mandiri (Persero) Tbk, which is one of Indonesia\u2019s largest lenders. 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