BANDUNG-Startup on Financial Technology fiel (fintech), Growpal has succeed working on export market of groump and shrimp although without ICT background.
CEO Growpal, Achmad Rizqi Akbar said that his parties in the early year of 2017 had received funds from investor for about IDR 3 billion with 40 tons export of groump and 50 tons export of shrimp per month. Their primer export markets are in Southeast Asia, and the rest of them are in Hongkong, and USA.
"I start fintech industry in the early of 2017, I don't have fintech backgroup, even coding, but Indigo.id makes me know digital industry," he said, Wednesday (4/12/17).
Growpal is chosen as an incubator participant on product validation (user who likes application) Indigo.id, they also get money for IDR 120 million. Right this moment, they are in selection stage of market validation or ready to be a business machine that later they will receive money for more than IDR 1 billion.
According to him, without ICT background, 2 year ago he started a convetional business on fish and shrimp. But he tried to improve his business scale at digital field although that in the beginning he did not know how to do that.
Later Growpal tried to join selection of Indigo.id program bath II in the middle of year and had passed the selection on November 8th 2016.
Growpal has found by people arround 20 years old, for instance the CEO of Growpal is 23 years old. The rest of them are in the same age, they are Shahriansya Candraditya (CMO), Paundra Noorbaskoro (CPO), and Raka Kurnia Novriantama (CTO).
Rizqi explained that his parties connected netizens as investors with commudity farmers of export fishery that are groump and shrimp. With an initial investment groump for IDR 20 million and shrimp for IDR 200 million, the Return of Investment Rate (RoI) was claimed the highest from other fintech that were only 35-50%.
"Indigo.id incubation makes me apply the patern of Growpal agents in our business. They are our supervisors, they watch us so that our business has operation standard so we can fulfil the export standard," he continued.
So far, he said that the fintech pattern that were applied was successful because the funds continued to grow. While in the production side, the distribution of commudity still cannot fulfil buyers' needs.
From 400 tons of groump export, the market demand actually reaches for 3,000 tons while shrimp export that is 50 tons can only fulfil 1/4 of the needs. It does not cover other fishery export yet.
"We will fulfil farmers' operational needs first, we lend them before investors join Growpal. With fintech patter, we expect that the more investors invest their money, then our target market will be fulfilled," he concluded.