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In focus
- How Ajaib secured US$270 million at a higher valuation than its previous fundraise
- Wiz.AI turns profitable as voice AI demand grows in Southeast Asia
- Indonesia halts construction of BDx’s data center in West Java
Hello reader,
News that Ajaib raised US$270 million from SBI Holdings in late August came as a breath of fresh air for Indonesia. Amid all the negativity around the country’s tech industry, this development was much needed.
What’s more, the fintech firm secured the funding at a higher valuation than its 2021 fundraise, making it stand out from the many other Indonesian startups raising down rounds.
In today’s first Top Story, I look at how Ajaib broke the mold. What made SBI willing to pay a premium for the investment platform?
Several investors we spoke with argue that SBI sees future potential in Ajaib’s digital asset and tokenization businesses. Both spaces are considered largely untapped in Indonesia, with local regulations still being developed.
Meanwhile, we’ve been putting more focus on the earnings of AI startups in the region. Today’s second Top Story spotlights Wiz.AI, which doubled its revenue year on year to US$23.5 million in 2025.
Co-founder and CEO Jianfeng Lu tells Tech in Asia that the voice AI company lost focus in 2024. The year after, it course-corrected by prioritizing projects with clear ROI.
Jofie Yordan, journalist
Top Stories
1️⃣ Why SBI paid a premium for Ajaib amid a tough market
Photo credit: Ajaib
Ajaib’s deal stands out not just for its size, but for the questions it raises about how private-market valuations are being set. The numbers suggest its current business alone may not fully explain the price SBI agreed to pay.
The deal points to the value SBI may place on Ajaib’s licenses, customer base, and ability to build new financial products. The fintech firm’s next test will be turning those advantages into new sources of growth to support the valuation.
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