Indonesian investment app Stockbit raises series A funding

Jakarta-based stock investing app Stockbit has raised an undisclosed amount in series A funding to speed up growth. Venture capital firm East Ventures was the lead investor in the round, with Convergence Ventures, FreakOut, and other angel investors also participating.

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Founded in 2013, Stockbit allows users on its app to trade stocks, network, and access information to make investments.

Stockbit launched a robo-advisory app called Bibit earlier this year to help investors build their personal portfolio.

“As Indonesians improve their income and financial literacy, making the right investment has become increasingly important to reach their financial goal. Hence, reliable guidance and information become key for their investing journey, and our product works for investors like a GPS/Google Maps for travelers,” Sigit Kouwagam, Stockbit’s chief operating officer said.