Heaptalk, Jakarta – Ajaib, Indonesia’s mutual funds and stocks investment platform, announced its success to hit unicorn status, which comes on the heels of its action to raise US$153 million. The new series B funding round made the Jakarta-based firm becomes the seventh startup that reached unicorn status in Indonesia.
The injection of this vast amount of capital was led by DST Global. The existing notable ventures, including Alpha JWC, Ribbit Capital, Horizons Ventures, Insignia Ventures, and SoftBank Ventures Asia, also joined this round. By the additional fund, in less than a year counting from the beginning of 2021, Ajaib has netted a total of US$243 million.
The immense funding secured is obtained from the remarkable growth demonstrated by Ajaib, which successfully assures its backer. Since its first debut in 2019, the Company led by Anderson Sumarli has significantly flourished, even lastly to achieve over one million users. The number is stood out for capitalists’ eyes considering that the total of stock investors in Indonesia is 2.7 million people.
Moreover, Ajaib places the fourth largest daily traffic compared to other investment platforms in Indonesia. The outstanding result delivered, further, has convinced multiple stakeholders to double down their support to the Company. Obtaining a strong bankroll and producing the innovative product, Ajaib grew as the fastest fintech to reach unicorn status in Southeast Asia.
The exceptional thriving presented by Ajaib, surprisingly, rose its name to be aligned with another DST Global and Ribbit capital-backed firm Robinhood, a giant investment platform headquartered in the US that recently performed IPO. The view, additionally, highlighted two substantial points, namely Ajaib’s potential growth as well as the strong power channeled from the revive of Indonesia’s retail investors.
Responding to its new financial support to Ajaib, a General Partner of Alpha JWC Chandra Tjan said, “The Ajaib’s success is conclusive evidence of the strong growth and power owned by Indonesia’s capital market. As an Indonesian, we are proud to participate in building the national digital ecosystem as well as bring the real impact to the people in their daily life.”
According to Ajaib, the fresh fund is set to boost Indonesia’s financial inclusion and literacy. Previously, Ajaib has manifested its vision through Program Generasi Saham, a program to deliver education about the capital market across Indonesia by collaborating with Indonesia Stock Exchange (IDX). In the midst of a pandemic, the Firm keep spreading information toward financial inclusion and literacy to people by online. Based on OJK’s report in 2020, financial literacy and inclusion in Indonesia are classified as terribly low, only 4.9% and 1.6%, respectively.
