Sebastian Togelang features in e27 as top 27 innovators who pushed Indonesian Startups Forward

On March 29th, 2016, e27 published a list of innovators who pushed Indonesian startups forward. This list consists a mix of individuals, entrepreneurs, government officials, startups and corporates that had contributed to the ecosystem’s growth. In this list of 27 innovators, our managing director, Sebastian Togelang made the list as the third individual mentioned in the article.

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Founders’ Stories: Arne Van Looveren

Y Group Asia, founded in April 2014, is a digital performance consultancy company that has expanded their operations to three ASEAN countries, Indonesia, Singapore and Malaysia. The Y Group Asia consists of the companies, Y Digital, B Digital and Y Academy. Since creation, Y Group Asia has done many great things in their two years of operation. They have grown so much and had worked with interesting companies such as: Superbrands, Barbie, Evian, GrabTaxi and many more well-known companies. There no doubt, the leading factor to this success was contributed to Y Group Asia’s amazing team, led by amazing leadership.

We’ve previously interviewed the CEO of Y Group Asia, Boye Hartmann, not long ago. However the success of Y Digital Asia is not done by a man but a group of interesting men. Today, our Kejora team would like to introduce the CCO of Y Group Asia, the fun and humble Arne Van Looveren. Read more to know the creation of Y Group Asia from an alternative perspective and find out Arne’s tips in creating a successful startup.

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Posted in MKV

Founders’ Story: Ricardo Santos

As part of the Y Digital Group, bDigital is the first online business builder that provides tools and solutions to increase productivity for small and medium-sized enterprises (SME) in Indonesia, especially in website design and online marketing. SMEs have been the backbone of Indonesia’s economy, but unfortunately, most of the SMEs are not reaching their maximum potential just yet because they are still mostly offline. bDigital has a vision to help digitize SMEs in Indonesia by being one stop platform that provides easy to use and affordable solutions that help grow their business and find customers online, as well as increase productivity. Moreover, bDigital is committed to educating and delivering value through free training and seminars. Started a year ago, bDigital has more than 3,000 members and more of 100 customers. Looking forward to expand in SEA, bDigital is working hard to launch a white label and re-seller solution with multi languages and currencies.

“People buy into the leader before they buy into the vision.” — John Maxwell

Now that we’re introduced to bDigital, but do you know about the leaders of bDigital? Fortunately, due to bDigital residing in Kejora HQ, our Kejora team was able to get an interview from bDigital’s CEO, Ricardo Santos, about his journey to build bDigital and gain some insights in building your own successful business.
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Founders’ Stories: Boye Hartmann

Based in Kejora HQ, a co-working space in Wisma Barito Pacific in Slipi. YDigital is definitely one of the many success stories in Mountain Kejora Ventures. We’ve heard about this Digital Marketing startup time and again but we never hear anything about their CEO, Boye Hartmann. Until now! We managed to track down this enthusiastic, lively entrepreneur and asked him to tell us his story. Here’s what he said…

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Posted in MKV

Founders’ Story: Domex Mandey of Wavoo

Everyone knows that Wavoo is one of the most energetic and enthusiastic startup here in Kejora HQ. However, how well do you know the man behind this amazing dating application startup? Recently, we decided to interview Domex Mandey, CEO of Wavoo, to talk about his humble beginnings as share to us his journey in his startup adventure. Not only is Domex very fun to talk to, he is also a very enlightened individual. There were many things that we learned from interviewing him and we are sure that we will learn many more life lessons ahead with him as being part of one Kejora Family.

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MKV in Mandiri Investment Forum 2016

Starting from the 26th January to the 28th January early this year, MKV was invited to join the Mandiri Investment Forum 2016. We started the forum by inviting the attendees to come to our office in Wisma Barito Pacific as we gave our presentation about our company mission as well as our unique profiles. In the opening presentation, the CEO of Compare88, J.P. Ellis, and CEO of Qareer, Veronika Linardi, gave us a brief presentation about their companies. We ended the opening presentation in Wisma Barito Pacific with a Q&A session in regards to the startup industry and the different startups in MKV and Ideabox. Unfortunately, due to time constriction, we weren’t able to give the attendees the chance to tour around our coworking space and they headed to their next destination in the start-up tour.

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Jualo receives Series A Funding!

There’s no doubt that it’s going to be a great year for our Kejora Family as we beginning of the year with great news! One of our startup from our portfolio, Jualo, had received a Series A funding from NSI Ventures.

Using this huge funding, Jualo intends to expand its operations throughout Southeast Asia. They intend to do the following through three key methods: increasing and building a strong and passionate team, improving its product, and growing traction. Let’s hope to see Jualo to continue growing for the years to come! Keep a lookout in our Kejora site for more upcoming updates on our Startup family!

Now we would like to share a letter from the Jualo Team, hope you enjoy.

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Sebastian’s Interview with The Time Machine Effect

Ever watched ‘Back to the Future’? Did you know that one of the ‘far future’ that Doc and Marty visited is actually our year 2015? Funny coincidence huh?

But jokes aside if you did have a time machine and an entrepreneur’s mindset, imagine what you could do with a time machine that could bring you to 10-15 years ago. You could invest in the companies you know will succeed, you could start a business in the things you know will go BOOM!

Well guess what, according to Sebastian Togelang (Founding Partner of Mountain Kejora Ventures) you do have a time machine! How so?

Sebastian in his interview with stated that, “The (tech industry) startup condition in Indonesia now is like the US and Europe in the early 2000s,” said Sebastian, or like China around 2006. Currently Indonesia has around 1,500 startups in this industry.

So being in Indonesia is like stepping into a time machine. And if it worked for them, obviously it’s open for us in Indonesia too.

Another advantage is that since we’re still in the startup phase, “there is no key winner in Indonesia yet,” Sebastian added.

Very interesting indeed… below are some of the key points we picked up from Sebastian’s interviews with

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Chaim Fetter on Kick Andy – Entrepreneur with a Mission

Behind every successful business there is always a great story, especially on how the founder was motivated. On the Kick Andy talkshow on Oct. 2, 2015, Andy interviewed Chaim Fetter, founder of, dug deeper into his past and found the real reasons why this young entrepreneur is so driven. is an e-commerce business whose site is a portal for buying and selling goods (a.k.a. C2C classified business portal). A lot like OLX or Berniaga, but with the extra advantage of their GeoSearch tool which allows us to buy from other people close to where we are.

Currently some portion of the proceeds from support Chaim’s Peduli Anak foundation in Lombok. This philanthropic organization focuses on saving street children by giving them free education, lodging, and even arranges these abandoned children to be restored to their family and receive support so they can experience a decent and normal family life through Family Care program. Chaim founded Peduli Anak in 2005, and now (2015) it already has 3 orphanages, a primary school, and the Family Care program, all run by around 50 staff (including teachers).

Quite impressive! Did all this start BIG? No…

Chaim revealed that everything started small. In a very honest and matter of fact way he told Andy and the audience of his difficult past, of how he came from a poor family in the Netherlands. We think perhaps this background made him more sympathetic to the fates of street kids. But what made him different was his knack for business, for making profit by buying and selling.

Around the age of seven, Chaim has already started earning extra allowance by buying second hand or used things from flea markets and selling them for a profit through classified ads on newspapers. By the age of 13 he already learned some computer programming and could make his own website; by 17 he started his first e-commerce business; and by 23 or so he was actually living a comfortable life already.

Chaim said in the interview, “by 23 years old I was already in a mid-life crisis. I’ve already achieved much but I was unhappy and felt like I was not living a meaningful life.” It seemed like providence that when he went on a vacation to Lombok in 2004 he was moved to help one street kid. He didn’t want to give the boy just money, and the boy said he wanted schooling although he didn’t even have a place to stay. So Chaim arranged to pay for the boy’s tuition and also living costs, – he was also lucky to find a teacher who let the child live with him while Chaim helped with the living costs.

Month after month he monitored the boy’s development and he found a renewed sense of purpose in this philanthropic act. What came next shocked Andy and the audience.

In just a short period Chaim sold all his business in the Netherlands and simply moved to Lombok to start a new life in Indonesia and the Peduli Anak foundation to help the street children in Lombok.

“What did your parents say?”, asked Andy in disbelief at Chaim’s willingness to leave his comfort zone for something entirely new. “Oh, they were happy!” was Chaim’s cool reply, which was then followed by the audience’s warm laughter. If only we all had such open minded-parents!

And that concludes our cover for Chaim’s interview on the show. Last but not least though, it’s worth noting Chaim’s views on the C2C classified business portal. “People think Berniaga and OLX are big, actually they’re not. Compared to the internet penetration in Indonesia, they have about four to five million (members). Less than five percent. The market is still huge,” as he claimed to DailySocial.

The data from eMarketer also shows that online buyers in Indonesia currently comprise around 10% of the total internet users. This figure is predicted to surpass 13% by 2018, and even so that is still low compared with other Asian peer countries’. In China currently more than 50% of its internet users are online shoppers.

Enjoy the interview below:

Sebastian’s Interview with Channel News Asia: Why Be an Early Bird in Indonesia’s Tech Industry

Channel News Asia recently covered a story on the tech industry in Indonesia, particularly in Jakarta where they’ve all gathered in the Slipi area, West Jakarta, thus dubbing the place as Slipicon Valley, obviously a pun for the famed Silicon Valley.

As Sebastian Togelang – Founding Partner of Mountain Kejora Ventures – was interviewed in the news coverage he stated that tech industry in Indonesia are still in the nascent stage, “like early 2000s of Europe or the 2006 of China, so it still has huge potential to grow.”

We believe this huge potential is the reason why it’s good to be an early bird player in this industry in Indonesia. Just as Mountain Kejora is currently doing by incubating 20+ tech startups as they are all growing together in Slipicon Valley.

Why Slipi? The obvious reasons are reasonable rent and proximity to Jakarta’s CBD. But there are also other reasons why these tech startups must stick together geographically while the industry is still in the infancy stage.

Being close to each other, it’s easier for these early bird companies to raise funds, meet up and brainstorm. Raising a startup is super hard, so it is more manageable if startups stick together and collaborate. It’s also interesting to note that the tech startups there are not like conventional businesses that are more likely to ‘bump heads’ in the market. Of course competition is still there, but according to Jason Lamuda, CEO of, they are more interested to unlock Indonesia’s “huge potential to grow” as mentioned by Sebastian rather than eat each other’s pie.

As the industry is growing exponentially, we can expect more foreign parties coming in to accelerate things even more, and it would be easier for them if they know Jakarta already has an area well pegged for this.

Enjoy the video!


How Literate and Organized is Indonesia on FinTech? – Dailysocial Continues with JP

Dailysocial continues their interview with JP Ellis, Founder and CEO of Compare88 Group and owner of, as he shares his view of where Indonesia is at regarding FinTech.

So how literate are Indonesians regarding FinTech? Definitely the awareness is already there, they know they need the knowledge and technology. However JP pointed out that Indonesians still need to dig deeper into technical things like how to compare interests “apple to apple”.

Indonesians are also at a point where they are most concerned for their future investment and retirement plan. This is a good sign because indeed Savings and Investment will be the biggest sector by 2030 according to JP.

JP is also active in the forming of a FinTech association where all the players – including banks and other associations (e.g. AAJI, AKI) ideally – can have a united voice to bring to the government. The government through the “Laku Pandai” program is already trying to reach out to the “unbanked” people, so they know they need technology to cover all of Indonesia from Sabang to Merauke. But who will do it? How exactly? What regulations need to be laid down? And which ministry should oversee this?

2030 may seem far ahead, but now is the chance to speak up and lay a solid foundation for Indonesia’s FinTech.

Source: DailySocial

Business Plan: To Plan or Not To Plan

At some point of the investment evaluation that we do, we will ask the entrepreneur to submit a business plan.

You might ask, “what a business plan???” Why does a startup even need a business plan? What kind of business plan do we need?

First, business plan is a must, absolutely. It actually demonstrate THE key requirement that: the entrepreneur has put a serious thought on his business and he knows how to drive the business forward.

It is not only the plan, but also the process of planning. 

Continue reading “Business Plan: To Plan or Not To Plan”

Entering FinTech Market? Listen to JP’s interview with Dailysocial

In a recent interview with DailySocial, JP Ellis, Founder and CEO of Compare88 Group who owns, offered some interesting insights on how Indonesians choose and buy financial products.

JP shared that Indonesians display the “wani piro” mentality when it comes to finding deals, so there are a lot of comparison, research and negotiation that people when considering a purchase. He noted as well that Indonesians are actually demanding when they are interacting online, compared to when they are interacting face-to-face. Continue reading “Entering FinTech Market? Listen to JP’s interview with Dailysocial”

Should You Prepare a Financial Projection for You Startup?

Should you? Knowing that most of the numbers are based on assumptions, and most likely will be proven wrong.

The answer is, YES. Not for the sake of the number only, but to understand the financial mechanics (drivers) of your business – what drives revenue and costs. Because finance (and accounting) is the language of business, and us, venture capitals, speaks that language quite fluently… so entrepreneurs should be able to speak with the same language.

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Why Indonesian Startups Fail (Excerpt)

Kejora’s Andy Zain and GDP’s Danny Wirianto sat on a panel moderated by Enricko Lukman (Copy Collision) during the recent Ideafest 2015 – the topic, is very dear to our heart, “Why Startups Fail”

In short, the panel agreed of three issues that often make startups stumble: 1) Inability to address the Needs of the Market, 2) Ran out of Cash due to sloppy spending, 3) Not Having the Right Team.

And finally, ideas are important, but execution is king. The initial idea usually will evolve (and not rarely change drastically) over time, which is why the Founders have to be strong and flexible in executing the business and leading their team with an appealing vision.

Source: DailySocial


About Kejora

Kejora invests in entrepreneurs and help them launch technology companies in large and high growth market verticals. Through growth capital, shared infrastructure and resources, access to the right network of strategic partners and investors, Kejora enables young startups to grow in rapid pace to win leading market positions in each tech vertical in the region.

We are stage agnostic and we focus in opportunities in Southeast Asia.

Kejora maximizes value-creation for investors by leveraging high-growth economies and demographic bonus. We work with highly skilled entrepreneurs to build winning technology companies with high and sustainable growth.

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Posted in MKV

What Does a VC Expect in a Pitch

So you have decided to raise funding from venture capitals.

Long story short, you’ve met any of us from Kejora in one of those startup events in Jakarta. You’ve delivered your elevator pitches, showed us your product demo, engaged in quick Q&A… and we invited you to a more detailed presentation session – “we would like to hear more about your startup” 

Now, what do I expect when I invite startups for a presentation (“a pitch”)? Plus, due to popular demand, I attach a template that you can follow.

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Ydigital Asia at Nordic Midsummer Event

Ydigital Asia participated as sponsored company at Nordic Midsummer Party that was held by Nordic embassies (Denmark, Finland, Norway and Sweden). The event was successfully held on Thursday, 4 June 2015 from 8-10 am at Shangri-La Hotel Jakarta. It was a joint National Day Celebration/Midsummer event to strengthen Nordic cooperation and combine efforts to arrange the best party in Jakarta. During 2 hours, more than 1000 guests including relevant ministers, government officials, Nordic companies and cultural contacts attended this special event and Ydigital Asia had such a great feedback from the attendees. Continue reading “Ydigital Asia at Nordic Midsummer Event”