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Miguel Cordon · · 1 min readInvestment app Ajaib becomes Indonesia’s latest unicorn with $153m raise
Indonesia’s Ajaib, a stock and mutual fund investment platform, has become the country’s latest unicorn after raising US$153 million in its latest fundraise.
More funding details
- Lead investors: DST Global
- Returning investors: Alpha JWC Ventures, Ribbit Capital, Horizons Ventures, Insignia Ventures, and SoftBank Ventures Asia
- Stage: Series B
More company updates
- Ajaib said that it recently garnered over 1 million stock investors in Indonesia, a country that only has about 2.7 million stock investors in total.
- The startup plans to use the new funds to support its hiring spree and launch financial education campaigns to onboard more budding investors.
- According to Ajaib, its goal lines up with Indonesia’s mission to strengthen its capital market. A 2020 survey by the Financial Services Authority found that the country’s financial literacy of the capital market is still relatively low at 4.9%.
- The announcement comes after Ajaib secured US$65 million in March this year through an extension of its series A round.
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.
Editing by Eileen C. Ang
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