Pluang bags $10m in funding as it expands into Indonesia equities

Indonesia-based investment platform Pluang has raised around US$10 million in series C funding led by MUFG Innovation Partners. Existing investors, including Square Peg and Accel, also participated in the round.

In an interview with Tech in Asia ahead of the announcement, co-founder and CEO Claudia Kolonas said the fresh funds would mostly be “kept in reserve” and used for potential acquisitions or overseas expansion, though the firm isn’t actively pursuing either.

More crucially, the strategic partnership with MUFG could drive future collaborations and strengthen customer trust in Pluang.

Pluang co-founders Richard Chua (left) and Claudia Kolonas / Photo credit: Pluang

“We were already profitable last year, so actually we didn’t really need fundraising,” Kolonas says. She was referring to EBITDA profit.

Founded in 2019 by Kolonas alongside Richard Chua, Pluang is one of several investment platforms, including Ajaib and Stockbit, that are riding the momentum of Indonesia’s trading boom toward the end of 2025.

It offers investments in gold, US stocks, crypto, ETFs, options, mutual funds, and – more recently – Indonesian stocks. The firm currently serves more than 13 million registered users and provides access to over 2,000 assets.

Last year, the company’s revenue reached US$30 million across the group, growing by more than 100% year on year. However, its Indonesian stock brokerage entity, which it acquired in 2023, recorded a pre-tax loss of US$486,000, according to financial statements filed on the Indonesia Stock Exchange (IDX).

Growing from a small base

Despite the momentum, Pluang captured just a sliver of the local stock market investments last year.

Kolonas notes that the firm only recently launched trading for IDX-listed stocks at the end of April. Prior to that, its focus had been on crypto and US stock offerings.

In contrast, firms like Ajaib and Stockbit have been offering local stocks on their platform since 2020 and 2021, respectively.

The CEO says Pluang received more than 50,000 applications for Indonesian stock trading accounts within roughly a week of launch.

Lessons learned