Institutional Repository UIN Sunan Kalijaga YogyakartaMINAT INVESTASI MASYARAKAT KELAS MENENGAH PADA PLATFORM SECURITIES CROWDFUNDINGNIM.: 24208011031Ahmad Firly MuktiauthorThe rapid growth of crowdfunding in Indonesia has not been matched by proportionate public participation, particularly after default cases in financial platforms, such as Dana Syariah Indonesia (DSI), undermined public trust. This study analyzes the influence of Perceived Ease of Use, Perceived Usefulness, Perceived Risk, Social Influence, Trust, Facilitating Conditions, and Return Expectations on middle-class investment intention in the Bizhare platform. Using an integrated quantitative Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT) approach, data were collected from 200 middle-class respondents in Java via purposive sampling and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The results indicate that Perceived Risk, Social Influence, Trust, Facilitating Conditions, and Return Expectations significantly affect investment intention, whereas Perceived Ease of Use and Perceived Usefulness show no significant effect. Intriguingly, Perceived Risk exhibits a positive effect, while Trust has a negative effect—reflecting the skeptical attitude of the middle class, which prioritizes concrete governance over basic trust. Overall, the model explains 88.5% of the variance in investment intention ($R 2 = 0.885$). These findings expand financial technology adoption frameworks and suggest that crowdfunding providers prioritize risk transparency and credible governance.332 Ekonomi Keuangan dan Finansial, Ekonomi Biaya dan Pembiayaan2026-08-12UIN SUNAN KALIJAGA YOGYAKARTA;FAKULTAS EKONOMI DAN BISNIS ISLAMThesis

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