Focused on helping young professionals learn to manage their finances, Halofina is a mobile app that gives users investment recommendations and portfolio tracking.
Why
Low financial literacy
Less than 30% of Indonesians are financially literate, compared with 65–70% in more developed economies.
Problems with fraud
The Indonesian economy has lost IDR 105tn in the past 10 years from fraudulent investments.
Increased consumption
Indonesian millennials are consuming more, but lack financial management skills.
Market
88m
Indonesia's millennial population in 2017, or 33.75% of the country (source: Susenas). This proportion is expected to rise, with millennials comprising the biggest group until 2035. (Alvara Research)
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