Lift Women teams up with fintech venture Labamu to elevate female Indonesian entrepreneurs
LIFTwomen Group, Australia’s first and leading women-focused crowdfunding platform, has forged a strategic partnership with Labamu, a Standard Chartered Bank-backed fintech venture, to empower Indonesian female entrepreneurs by making sales management and funding more accessible.
Melbourne, 20th March 2023 – Labamu accelerates cash and productivity in micro, small and medium enterprise (MSMEs) by digitising sales and has a user database with a majority of female-led businesses. This partnership will unlock holistic support to Indonesian women who are starting or running a business through coaching, networking, funding and sales digitalisation and management. Lift Women will also be facilitating trading and networking opportunities between Australian and Indonesian women-led businesses to synergistically elevate both.
Asia Pacific (APAC) is one of the fastest-growing and most dynamic regions in the world. Mckinsey research indicates that advancing gender equality in APAC could add $4.5 trillion to their collective GDP annually in 2025, a 12 percent increase over a business-as-usual GDP trajectory. Women are pivotal in releasing this potential and lifting more people out of poverty. Yet today, APAC is still experiencing a high level of gender inequality in business and entrepreneurship.
In Indonesia, high rates of informal work result in women becoming “necessity entrepreneurs”. A 2021 World Bank Group report found that access to finance and support networks in Indonesia are major challenges for women in business. Despite the challenges, women spend 90 cents of every dollar earned on their families, including on their children’s education, health and nutrition, creating a strong multiplier effect; this is compared to 30-40 cents devoted by men.
“We’re thrilled to team up with Labamu in extending our support to women entrepreneurs in Indonesia and complimenting their financial services. Advancing financial inclusion is critical in driving gender parity. The gap is huge in Indonesia as well as the market opportunities. I look forward to working with both teams to close this gap and maximise the opportunities through our innovations!” said Irene Tsang, CEO and Founder at LIFTwomen Group.
“At Labamu, we believe in small businesses and empowering female business owners. We also know how important education and access to resources is for our female Indonesian entrepreneurs to succeed in their journey. Hence we are excited to announce our partnership with Lift Women to enrich the services available to our members to help them in creating and growing successful businesses.” said Emmanuel van de Geer, Founder at Labamu and Venture Lead at SC Ventures by Standard Chartered.
Together, we are empowering Indonesian female entrepreneurs to realise their potential and be agents of change in their communities. More joint funding initiative announcement to follow.
About Lift Women
Lift Women is Australia’s first and leading female-focused crowdfunding platform that’s closing the funding gap to back women in entrepreneurship and empower them to live a life to its fullest potential. We connect female entrepreneurs to not only backers and funding, but pivotal resources and relationships, while also operating on a social impactful model.
For more information about Lift Women, please go to www.liftwomen.com
Labamu is a financial recording application that makes it easy for MSME players to manage everything related to their sales, from creating sales invoices, sending sales invoices directly to customers and giving reminders to customers to make payments on time.
For more information about Labamu, please go to www.labamu.co.id