Left to right : Fajar Faisal (Stellar Indonesia), Donny Pramono Ie (Sour Sally Group), Kenneth Tali (CEO & Founder of Likuid), Elbert Toha (ADX Asia), and Andibachtiar Yusuf (Capo dei Capi)
Indonesia-based startup PT Likuid Dana Bersama (Likuid) announced the launch of its creative industry-targeted crowdfunding platform. The platform connects fundraiser and investor through a project financing scheme with 12 – 20 per cent return.
Likuid seeks to support the creative and lifestyle industry by opening access to capital. It also wants to become an affordable investment option for the public.
CEO dan Founder Kenneth Tali first came up with the idea for the platform when he saw how capital limitation continued to become the main obstacle in starting a creative project.
The condition was confirmed with the 2017 data by Creative Economy Agency (Bekraf), stating that about 92 per cent of creative industry practitioners rely on personal capital or loans from the bank.
“We believe that to strengthen this industry, the public needs to be able to participate, not only as consumers but also as investors,” said Tali.
Tali addressed that crowdfunding is not without any risk, which might explain why the Indonesian public’s trust remains relatively low, especially for creative industry projects.
Founded in 2018, Likuid curate and analyse any potential and risk in an overall business project to close the potential loophole in investing.
Likuid presents Project Financing, a business and investment scheme for both parties based on revenue sharing and profit-sharing, where investors can get 12 to 20 per cent return of investment.
With the scheme, investors can participate with a minimum investment of US$7.3.
Likuid has been in the Financial Services Authority (Otoritas Jasa Keuangan)’s sandbox since July 2019. It aims to secure 2,500 users and release US$2.9 million in funding within four months after getting its licence.
The startup targets six business sectors: Culinary, entertainment (movies, series, and concerts), e-sports, beauty, health, and startup.
Likuid said that there are four crowdfunding projects ready to be launched and by the end of this month transactions can be commenced, which included a movie sequel project and a beverage advertisement.
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In Indonesia, Likuid was not the first crowdfunding platform to target the creative industry.
In February 2017, Wujudkan announced its shutdown, citing inability to generate income as its main reason.
In an interview with e27, KitaBisa CEO Alfatih Timur shared the challenges that crowdfunding platforms in the country faced in promoting creative or innovative projects.
“At first we forbade users to campaign for personal causes, such as fundraising for a sick friend. We wanted to put emphasis on innovative projects. But, then it turned out that personal causes are the fastest to reach its target,” he said.
Equity crowdfunding is also a relatively new concept in the market, which was introduced with the launch of Akseleran in March 2017. The company went on to raise US$8.6 million in Series A funding in January.
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Image Credit: Likuid
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