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In recent years, the Indonesian public has been fed countless startup companies operating under the financial technology (fintech) umbrella. Although this presents opportunities to increase the financial inclusion rate, it turns out that many insincere startup companies have merely used such jargon as a marketing gimmick to induce hype from investors.
In the past few years, startups have been growing exponentially in Indonesia as one of the ripple effects of technological progress and an increasing number of creative people. However, the early-stage companies struggle to get capital, because they hardly succeed in attracting venture capitalists or angel investors.
Gerindra Party presidential candidate Prabowo Subianto's team started a crowdfunding initiative that had collected more than Rp 275 million (US$19,525) as of Sunday, according to a Telegram messaging app group called “Galang Perjuangan” (Fight Mobilization).
