BintanGO wants to boost the creator economy in Indonesia – TechCrunch

BintanGO has almost everything Indonesian creators need to monetize their content. First, there’s its CreatorSpace, which helps them manage brand collaborations by measuring engagement and sending invoices.

Businesses, on the other hand, can search BintanGO’s marketplace for a verified creator, who is accepted based on social media followers, post consistency, and aesthetics. And finally, it has an app where fans can get video shoutouts from their favorite influencers or celebrities, similar to Cameo in the US.

Today, the Jakarta-based startup announced that it has raised $2.1 million in seed funding led by Investible, eWTP Technology and Innovation Fund with participation from Farquhar, Plug and Play, Aksara, Redbadge Pacific, Moonshot Ventures, Mulia Sky Capital and United Creative. BintanGO’s last funding was a $500,000 pre-seed round in June 2021, ahead of its launch in September.

BintanGO co-founders Jason Lee and Oktorika Mandasari

CEO Jason Lee, who co-founded BintanGO with Oktorika Mandasari, said one of the challenges Indonesian creators face is that they have to manage multiple revenue streams, which makes invoicing and payments difficult. Moreover, in Indonesia, they are classified as informal workers, which makes it difficult to obtain finance and credit from financial institutions. BintanGO’s goal is to solve all these problems.

BintanGO says it onboarded over 4,000 creators last month, and creators on the platform have earned a total of nearly $100,000 in the past three months. BintanGO started with its video shout app, which in turn prompted the creation of its other features.

Lee told TechCrunch that smaller creators also wanted to join BintanGO, which made him and Mandasari realize the difficulties they face in turning their content into a business. CreatorSpace, with its billing and business management tools, is accessible to all creators, regardless of size.

One of the ways BintanGO differentiates itself from other creator platforms is that it also provides invoice financing solutions for creators. Lee said creators often don’t get paid until 60 to 90 days after a project. BintanGO therefore offers them solutions such as advance payment.

BintanGo monetizes with platform fees for each transaction, ranging from 1% to 5% of its value, depending on the service used.

Source link