Here’s Ajaib! They’re an investment platform that makes trading more accessible for Indonesians. Now, they’ve just closed a $270M Series C equity financing round.
- This marks Indonesia’s largest fundraising event since 2022.
- Did you know? Ajaib means ‘magic’ in bahasa Indonesia.
Throwback. Oh, and Ajaib also says that this round was priced above their 2021 unicorn valuation. FYI. They were one of the fastest Indonesian startups to hit unicorn status.
Investor check. Japan’s SBI Holdings led the round, securing a roughly 20% stake in the company.
📳The ABCs of Ajaib
Ajaib is a digital investing app that makes it easier for Indonesians to trade mutual funds, bonds, Indonesian stocks, US stocks, and crypto.
The platform also offers banking, payments, savings, and stablecoin infrastructure.
- Designed to be beginner-friendly, the app comes with guides and educational features to help newbies learn more about investing.
- Ajaib’s user base is on the younger side (mostly under 40), and they’ve reportedly surpassed 7M users.
Some more detail. Ajaib owns 40% of the publicly listed Bank Bumi Arta. They initially invested $52M to buy 24% of the bank in 2021.
💵The next steps
They’ll use the fresh capital to support hiring in Indonesia and across the region.
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