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Ajaib to gain another funding from DST Global of USD 153 million

04 October 2021 11:58

JAKARTA. A stock and mutual funds investment fintech start-up, Ajaib, secured funding from DST Global for its Series B worth USD 153 million, equivalent to IDR 2.2 trillion, assuming that 1 USD is equal to IDR 14,200.

The said amount boosted the total raised funds by Ajaib throughout 2021 of USD 243 million. In its second and a half year, Ajaib is now the fastest investment fintech start-up to attain unicorn status in Southeast Asia and seventh in Indonesia.

The previous investors initiating funding in Ajaib included Alpha JWC, Ribbit Capital, Horizons Ventures, Insignia Ventures, and SoftBank Ventures Asia. For the record, DST Global and Ribbit Capital are the generous investors for Robinhood, the US-based investment fintech company, frequently compared to Ajaib.

Thomas Stafford, the Managing Partner of DST Global, believed that Ajaib had managed to establish world-class products using modern technologies to facilitate the younger generation in Indonesia to enter the stock market. “We are proud to walk alongside Ajaib to reach its mission to democratise access to investment for all,” Stafford stated.

On the other side, Anderson Sumarli, Co-Founder and CEO of Ajaib Group, thought that comparing Ajaib and Robinhood is proof that the advancement of technology capability and the stock market in Indonesia could match the global market. Sumarli expressed this opinion earlier today (4/10).

Furthermore, Sumarli planned to utilise the said fresh funds to massively recruit the best talents and conduct educational campaign to inspire more beginner investors. Ajaib had just celebrated the acquisition of 1 million retail investors out of 2.3 million retail investors in Indonesia. (AM/ZH)

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