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Indonesia Briefings 2021: Investment platform raises USD 25 million Series A

Last updated on January 11th, 2021 at 10:50 pm

11 Jan 2021

Ajaib Group, an online investment platform has raised USD 25 million in its Series A funding round led by Horizons Ventures, a venture capital firm founded by Hong Kong tycoon  Li Ka-Shing, and Alpha JWC. Existing investors SoftBank Ventures Asia, Insignia Ventures and Y Combinator participated.

Founded in 2018, Ajaib provides a platform for investors to invest in stocks, ETFs, and mutual funds.

Robo-advisor startup Bibit raises USD 30 million from Sequoia India

06 Jan 2021

Fintech startup Bibit has raised USD 30 million in fresh funding led by Sequoia India. Existing investors East Ventures, EV Growth, AC Ventures and 500 Startups participated.

Founded in early 2019, Bibit’s robo-advisory platform builds customized mutual fund portfolios based on the users’ risk profiles and investment goals. Barely two years old, the startup has already seen phenomenal growth with more than a million first time investors joining in 2020 alone.

Gojek in merger talks with Tokopedia

05 Jan 2021

Indonesian ride-hailing and payments unicorn Gojek is reportedly in advanced merger talks with homegrown e-commerce unicorn PT Tokopedia, ahead of a planned IPO of the combined entity according to a Bloomberg report. Gojek and Tokopedia have reportedly considered a merger since 2018 however merger discussions accelerated after deal talks between Gojek and Singapore-based arch rival Grab reached an impasse.