Aditya Hadi Pratama · · 1 min readAC Ventures, Coinbase Ventures back $11m round of Indonesian crypto exchange
Reku, an Indonesia-based crypto exchange, has raised US$11 million in a series A funding round led by AC Ventures, with participation from Coinbase Ventures and Skystar Capital. It is the first external funding that Reku has raised since its establishment.
Reku team / Photo credit: Reku
The startup also announced the appointment of Jesse Choi, a tech veteran from Bain & Company, Payfazz, and AC Ventures, as its COO.
Founded by Sumardi Fung and Robby in 2017, Reku (formerly Rekeningku) is a platform that allows users to buy and sell crypto assets. It says that it has the lowest fees among all exchanges in Indonesia.
Last year, crypto transactions in Indonesia reached US$60 billion, with Reku processing US$3 billion of the total amount. As of June this year, there are 15 million registered crypto users in the country.
The startup plans to use the fresh funding to hire 50 new employees, on top of the 80 employees that it currently has.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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