JAKARTA - Legal services startup Plato is targeting to raise US$ 500,000 in a seed funding round by the end of the year.
According to founder Irma Surya, the fresh funds will be allocated for digital product development, services coverage expansion, and marketing.
Ms Surya, who has had stints in various local and international law firms prior to establishing Plato in October 2018, said that based on data by the Ministry of Cooperatives and Small and Medium Enterprises (SMEs) 15 million SMEs in Indonesia still do not own a bank account and face significant challenges in terms of legal and compliance aspects. Thus, Plato mainly focuses on the legal aspects of establishing companies and targets startups and SMEs.
“I think the market is ready. People and especially startup founders are now more aware of the legal aspects before starting a company,” Ms Surya told DealStreet Asia, Monday (4/11).
“Many founders in Indonesia are first-time businessmen/businesswomen. That is why they need guidance on certain things, including when and how to get it done.” (MS)