Edtech Startups Guided in Finding Fresh Funding Through the SCF FundEx Platform
Edtech startups Guided in seeking fresh funding through the issuance of stock securities at FundEx, a securities crowdfunding startup. Guided targeting funding of IDR 1.2 billion with an offer period of 45 days.
The total shares issued were 2.4 million shares or the equivalent of 5% with a price per share of Rp500. Guided to be established since November 2020, by three young alumni of the University of Indonesia, namely Zaky Muhammad Syah, Alim Anggono, and Wildan Gunawan.
Guided focus on helping users improve the abilities and skills needed in the world of work. The educational programs provided are data science, digital marketing & UI/UX, business intelligent & SEO.
The rapid growth of the digital industry in Indonesia is faced with a major issue, namely the need and availability of digital talent.
Data from the World Bank shows that Indonesia needs around nine million digital talents in 15 years or an average of around 600 thousand people per year. If you only rely on the conventional education system, the pace of industry needs will not be matched.
Providing Solutions to the Community
As a solution to this gap, Guidance was born as an edtech platform that provides digital skills learning, career preparation, and job distribution for Indonesian digital talents.
Guided has a vision of creating unlimited digital talent because we want to help people find jobs easily and they can also access cheap learning.
“So, we need funding because we have to scale up our product, and we need a partner to help share that this guidance is impactful for our customers,” said CEO of Guidance, Zaky Muhammad Syah in an official statement.
The company’s own business growth shows an upward trend. The company’s turnover at the beginning of its establishment was only IDR 2 million, then slowly increased to IDR 4.49 billion at the end of last year.
The company has reached the point of profit in the second quarter of 2021. The number of participants who have graduated is 912 people who are mentored by 147 mentors who have joined Mentored.
In the company prospectus, Guided offers a number of benefits for its investors. In addition to capital gains, investors also get a special bonus in the form of a free investment class worth IDR 1 million for each person.
As much as 80% of the funds raised by Guidance will be used to improve the quality of technology-oriented products, including the use of AI to provide a better experience for its users. The remaining 20% will be used to recruit the best marketing team to acquire more Mentored users.
Mitigation Process at FundEx
Guided is the second company to raise funds through a startup pioneered by Agung Wibowo. FundEx itself offers Guided shares that can be purchased starting from IDR 500 thousand so that they can reach many people.
Agung explained that the mitigation process carried out by the company in this Guided funding was quite strict, from the beginning of the registration/pre-funding process to funding. This includes the decision to choose to issue debt-based or stock-based securities, which FundEx also socialized.
“We socialized the differences and consequences of the two securities products on the SCF platform, so that prospective issuers can choose securities that suit the company’s needs and strategic plans.”
He further explained, in the initial phase, prospective publishers are required to carry out an e-KYC process to ensure that the company/prospective issuer is a legal entity.
After e-KYC is complete, we move on to the next stage, namely the process of signing an agreement between the prospective issuer and FundEx, either electronically or manually alternatively.
The goal is to ensure that if there are obstacles to various parties that the process of offering securities to potential investors is a legal and binding agreement.
Next, enter the due diligence phase. Prospective publishers will be analyzed in terms of their performance, business prospects, and business risk profile.