Investment learning platform, Ternak Uang, has secured seven-digit seed funding from Northstar Group Co-founder and Managing Partner, Patrick Walujo, venture capital firms Kinesys Group and Alto Partners. This funding will facilitate Ternak Uang in achieving its mission of increasing the financial literacy of the Indonesian people, especially considering that many young people are still trapped in fraudulent investments. Citing data from the Indonesian Financial Services Authority (OJK), fraudulent investment practices have cost Indonesians up to Rp117.4 trillion (USD8.15 billion) in the last 10 years. In its realization, the seed funding will be used for product development and platform positioning, community empowerment, and internal team development.
In the future, product development will be focused on providing an equitable financial and investment learning experience for everyone. Especially at TU Academy, which will be continuously developed to help individual learning processes according to personal needs. Furthermore, this feature will be supported by the implementation of artificial intelligence (AI) technology and machine learning. This is created to provide a learning experience through a personalized learning approach, in which every user can learn and improve financial literacy regardless of different financial conditions.
Furthermore, Ternak Uang will strengthen its position as a social education platform. On this platform, community users can discuss with the Ternak Uang research analyst team with a moderation system and direct supervision by the internal team. This initiative comes by looking at so many questions/discussions that arise from users, such as discussions about market policies and their implications, personal finance, and practical and educational tips that beginner investors need to pay attention to.
As delivered by Ternak Uang CEO, Raymond Chin, “Everyone’s financial situation is different from the others, set by the number of expenses and income, dependents, priority financial goals, and risk characteristics of different people. For this reason, everyone’s financial strategy needs to be differentiated, to be able to achieve financial independence according to the situation experienced personally.”
One of the latest features that were launched earlier this year is Financial Checkup, where each user can analyze their financial condition personally. The analysis is carried out in detail by calculating the ratio of cash flow, savings, debts and dependents, emergency funds, and total assets owned. Then users will get a recommendation module and personal learning to help improve their financial condition.
Raymond added that in the future, product development will be directed to the realm of fintech and financial products. Ternak Uang understands that as a social educational platform in the financial sector, users must ultimately practice the information they have learned to do in real life consistently. This is in line with Ternak Uang’s mission to help Indonesians achieve financial independence, not just to gain money in investing.
“Inclusive financial literacy continues to show positive developments in Indonesia, to the point, it grows among the younger generation. This is what underlies us to present learning modules that are easy to understand and relevant, to be a trigger so that more and more people are interested in learning from credible and trusted sources,” said Raymond.
Ternak Uang was first founded by Raymond Chin, a serial entrepreneur who has started his career since the age of 20, and Timothy Ronald, who is known as a young investor and content creator. After some time, Felicia Tjiasaka, who is a Chartered Financial Analyst® (CFA®) level III holder, joined and leads product development at Ternak Uang.
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