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Buy Shares in Santara will be Recorded at the Official Depositary Institution

Buy Shares in Santara will be Recorded at the Official Depositary Institution

Santara as an equity crowdfunding (ECF) startup officially cooperates with KSEI (Indonesian Central Securities Depository) as a deposit and settlement institution (LPP) in the Indonesian capital market.

This cooperation was established as a follow-up to the issuance of Financial Services Authority Regulation (POJK) Number 37 / POJK.4 / 2018 concerning Funding Services through Information Technology-Based Stock Offering.

Accordingly, the fund management service provider (ECF) is required to conduct securities (share) safekeeping at the Capital Market Settlement and Settlement Institution, KSEI.

Buy Shares in Santara will be Recorded at the Official Depositary Institution

“As a company overseen by the OJK, we strive to meet all applicable regulations. In addition to keeping business activities within the scope of applicable regulations, it is also a good corporate governance practice or GCG internally,” Krishna T Wijaya as Chief Business Officer Santara, said through his statement.

In ECF services, KSEI acts as a place for registering securities or ECF shares issued without scrip.

By registering the ECF securities in KSEI, all securities ownership will be recorded in the securities account in the name of the ECF investor managed by KSEI. While ECF organizers such as Santara act as platform providers that bring together capital seekers and prospective investors.

The Company Already Collect IDR 40 Billion Funds

After completing the administrative process, Santara and KSEI will then carry out the technical adjustment stages in the next few periods. Furthermore, investors will have easier access to mutation data and securities ownership data. They also make it easier to consolidate their portfolio reports.

In addition, for people who are just starting to invest, they can also get a Single Investor Identification (SID) like investors in the capital market. It is noted that until the 1st week of April 2020, Santara has collected funds up to IDR 40 billion, which were distributed to 34 issuers with an amount more than 104,036 registered members.

This growth is claimed to make Santara the market leader in the ECF industry today when compared to other ECFs.

Buy Shares in Santara will be Recorded at the Official Depositary Institution

ECF Services in Developed Countries

KSEI President Director, Uriep Budhi Prasetyo said that in developed countries, ECF services are quite loved by small-scale companies.

“For example in South Korea, the ECF which was introduced in 2016 has managed to raise funds of US $ 72 billion involving as many as 432 publishing companies,” he said.

So, with the issuance of POJK related to the ECF and the establishment of cooperation between KSEI and several organizers, it hopes that the stretching of fund-raising services in Indonesia will become more alive.

Buy Shares in Santara will be Recorded at the Official Depositary Institution

Last February, Santara Held an Investor Gathering Event in Yogyakarta

In order to strengthen communication with users, the Santara funding platform held a meeting between investors (investor gathering) in Yogyakarta, recently. The event was attended by selected users who had registered to attend the event.

Most of the investors meeting participants were Santara financiers from various professional backgrounds and age groups. Also in attendance were several publisher representatives who offered their shares in Santara.

Krishna Wijaya, Santara’s Chief Operations Officer, said the equity crowdfunding (ECF) industry was still relatively new and was looking for its best form.

“Santara started by involving users to determine the future customer journey and provide input on current business processes,” Krishna said through his statement on Wednesday (02/12/2020).

In addition to meeting with investors, this agenda also serves as a venue for listening to input and stories from users through a focus group discussion (FGD) forum. The input and story will be used as material for improvement and development, both in terms of services, technology, and business processes at this startup.

He claims, Santara has more than 84,000 users. They are ready to fight for selected business shares that qualify to become publishers in Santara.