There is a huge market for second-hand goods as the circular economy has been growing in the past few years. The growth has been caused by not only the pandemic but also by economic conditions, a need to make more responsible and less wasteful choices, and a wave of digital platforms that are making it easier than ever to buy and sell second-hand goods. CakepLabs is a startup focusing on Artificial Intelligence and Financial Technology development. They are the creators of Chaca Market, a platform where consumers can sell and buy second-hand goods in Indonesia.

The company did its first test run in Bali and already got over 4,000 users registered and over 4,000 products listed. With this test run, CakepLabs also successfully created a hyper-localized market for the Balinese to market their products online. 

Customers in Indonesia have increased the number of times they shop online. In addition, contactless payments and the use of e-wallets have also increased. The trend shows that many consumers in Indonesia plan to continue to buy online even after the pandemic ends. Chaca Market provides a great opportunity for people and businesses to quickly sell their goods online. As sellers and buyers are vetted by the platform, there is a built level of trust that gives both the buyer and seller a safe piece of mind when shopping online. 

Chaca Market 

Chaca Market is a second-hand market made by CakepLabs company to help users re-sell goods. It is a local buying and selling community platform in Bali, Indonesia. What makes Chaca Market different compared to other second-hand platforms is their “Buy Now, Pay Later” payment method that is both beneficial for the seller as well as the buyer. Every user needs to connect their Chaca Market account with a bank account or other payment options to verify themselves. 

Chaca Market is free to use, there is no listing fee and the process is very simple. It only takes a few seconds to register on Chaca Market. Once registered users will view ads according to their specific location/needs. Users can save their favorite ads and make an offer for the items they want to buy. In addition, selling your unused goods is easier than ever. Just take a picture of the item you wish to sell. Set the price and description and click post. You can even share your items via social media such as WhatsApp, email, SMS, and social media platforms. There are no commissions or transaction fees for your posts. Buyers and sellers can communicate with each other using their built-in chat feature. 

Perfect for Buyers and Sellers

Buyers will not only find second hand goods but also new goods and services that are around Bali. Once they find a product they want to buy they will instantly know the location of the seller. They will be able to chat with the seller and bargain with them before making a purchase. In addition, buyers can see a seller’s credibility by viewing their profiles. 

Chaca Market aims to expand into other provinces in Indonesia in the future. What attracts users to Chaca Market is that it is very localized compared to Facebook Marketplace. Therefore, Chaca Market in Bali is looked at as “Bali” Market. Cakeplabs wants to bring this localized marketplace into different cities so each region/province will have a place to go to buy and sell second-hand goods. 

 

Other Services Provided by CakepLabs

CakeDev 

CakeDev is a community for users who want to learn more about deep tech. They focus a lot on AI so developers can share their knowledge together. There are discussion groups, projects, and networking opportunities with other AI-focused individuals. 

DataCake 

DataCake is an API Marketplace made by CakeLabs. The marketplace provides the fintech data for your company’s needs. It is an all-in-one finance service for all of your financial needs. Data management service to connect and exchange daily. 

CakepLabs was accepted into the Seoul Fintech Lab. Therefore they operate out of both Indonesia and Korea. They were awarded a prize at the “Hana, Fintech New Biz Idea Contest” which was hosted by KEB Hana Bank and Seoul Fintech Lab in Korea. This is CakepLabs first step in their plans to expand their business into new Asian markets beyond Indonesia. They are looking to partner with companies in Korea that are also looking for the best solutions and services in the financial technology sector.