Indonesia’s Bibit secures $65m in Sequoia India-led round

Indonesian robo-advisory startup Bibit said it raised US$65 million in its most recent funding round.

More funding details

• Lead investor: Sequoia Capital India
• Other investors: Prosus Ventures, Tencent, and Harvard Management Company
• Returning investors: AC Ventures and East Ventures
• Stage: Unspecified

More company updates

• Bibit said it will use the fresh funding to launch new products, develop its tech, acquire talent, and increase financial education.
• The company created a digital investing app that helps first-time investors invest in mutual fund products, offering customizable portfolios based on their individual risk profiles.
• The investment comes after Indonesia saw 1 million new fund investors come to the market during the first quarter of 2021 alone, the company said citing IDX and Central Custodian data.
• In January this year, the company announced it raised US$30 million of funding to further expand its products and services.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.