Aditya Hadi Pratama · · 2 min readAC Ventures leads $4m round of Indonesian crypto app
Nobi, an Indonesia-based investment app for crypto assets, has raised US$4 million in a seed round led by AC Ventures, with participation from Skystar Capital and Global Founders Capital.
(From left) Nobi founders Edy Senjaya, Lawrence Samantha, and Dionisius Evan Alam / Photo credit: Nobi
Founded in 2018, Nobi allows customers to buy and sell crypto assets in partnership with local crypto exchange Indodax. It also helps users with staking and earning yield from their crypto assets.
The company said it currently manages over one trillion rupiah (around US$70.1 million) worth of crypto assets. It also saw a 15x surge in active users in the last six months.
The startup was established by Lawrence Samantha, founder of Loket, an event management platform that has been acquired by Gojek. Joining him in the founding team are Edy Senjaya, who runs crypto price monitoring tool Bitharga, and Dionisius Evan Alam, who has founded and advised several startups before joining the company.
Nobi plans to use the fresh funding to expand its team, develop its product, and grow its Honest Token.
See also: Are SEA’s tech VCs missing out on the crypto craze?
According to the Indonesian Commodity Futures Trading Supervisory Board, the number of crypto investors in the country reached 11.2 million last year. Crypto transactions also grew 13x from US$4.6 billion in 2020 to US$61.4 billion in 2021, making the archipelago country a potential market for crypto assets.
Other investors in the funding round include:
- AppWorks
- Cakra Ventures
Editing by Deepti Sri and Lorenzo Kyle Subido
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