PINA raises US$3 million Seed Funding led by AC Ventures

Syifa, industry . 04 Jul 2022
PINA raises US$3 million Seed Funding led by AC Ventures

Heaptalk, Jakarta — PINA.ID, an Indonesia-based financial asset and wealth management platform, has successfully raised USD3 million in a Seed-funding round (7/4). The startup plans to utilize this investment to expedite its product and user enhancement. 

PINA’s latest funding round is led by several investment firms, including AC Ventures, Y Combinator, and Vibe.VC as well as XA Network. The existing investors also participated in this round, including Prasetia Dwidharma and the 1982 Ventures.

The fresh funding will also be allocated to accelerate the user’s growth, expand the business reach, and augment the consultation and investment features. This platform also plans to build its complementary services for customers to access career training, Certified Financial Planner (CFP) and organizing the special event for exclusive members. 

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AC Ventures press release mentioned that the high expenses charged by common financial assets and wealth management services have carried a dilemma for society in Indonesia to access these services. The obstacles are also aligned with the complex steps for probable investors in managing their finances independently. 

For this reason, PINA platform intends to empower Indonesia’s society to gain financial freedom by simplifying their complicated financial decision through this application. PINA also has holistically offered its investors an advice provider service and investment management solution.  

As a part of its services, the company will grant holistic financial management services at a reasonable cost without a minimum account. The users can also access the asset management advisor in the PINA application for free. Customers will only be charged for making investments in the PINA platform.

“We intend to provide a smart practical personal asset management platform to empower users in controlling their wealth. We believe our asset management platform is perfect to automize individual financial aspects based on their necessities. Thus, PINA aims to be Operating System (OS) in the financial ecosystem around the society. This investment is expected to help us achieve our future goals,” said Daniel Van Leeuwen, PINA’s Co-Founder. 

This startup also provides reliable asset management and comprehensive investment solutions, from various hands-off portfolios to direct investment, simplified with personalized financial recommendations, asset management devices, and automatic investment in only one application. Through the application, users can connect the entire asset account to facilitate their asset management in one place and utilize the data for automating their savings and investment objectives.

The Founder and Managing Partner of AC Ventures, Adrian Li, stated, “The presence of mass adoption of non-cash transactions along with the increase of fantastic wealth owned by society has established opportunities for asset management and investment platforms. We have observed that the team of PINA possesses many insights and connections regarding the financial services industry. The team’s expertise has enabled PINA as one of the most promising startups in its sectors,”

Established in 2021, has contained 25,000 users and tackled its Asset Under Management (AUM) worth US$ 4,1 million. This startup has succeeded in performing its powerful attractiveness only three months after its product launch, proved by the twofold of its AUM growth in February 2022 and eighteenfold increase in March 2022. (SFM)