Indonesian equity crowdfunder Bizhare Syariah to seek Series A funding for expansion

Indonesian equity crowdfunder Bizhare Syariah to seek Series A funding for expansion

JAKARTA – Indonesian equity crowdfunder Bizhare Syariah will open a Series A funding round in the fourth-quarter to raise funds for expansion.

Bizhare started its Syariah division in July. Prior to this, the conventional crowdfunder  had 57,092 active investors at the end of June, a growth of 346% compared to the same month last year. The company is now seeking additional funds to expand its user base to 22 million in all, Gatot Adhi Wibowo, its co-CEO told Salaam Gateway.

“The market is huge, we want to aim for at least 10% of Indonesian Muslims after we secure the Series A funding,” he said.

“We want to educate more people about giving their contribution to accelerate the halal industry by being a part of our Sharia crowdfunding. Once they understand our Sharia equity/ securities crowdfunding, they can become investors,” Gatot added.

Most of Bizhare’s users are men aged from 25 to 45 and from Java