Investment platform Ajaib Group has raised a $25 million series A, led by Li Ka Shing’s Horizons Ventures and Alpha JWC Ventures. Existing backers SoftBank Ventures Asia, Insignia Ventures and Y Combinator participated in the round as well.
The fresh capital will be used to expand the company’s technology infrastructure, recruit top engineering talent, and deepen product offerings. A significant part of the capital will also support its #MentorInvestasi education campaign which was announced in late December, aiming to educate millennials on investing and financial planning.
Meanwhile, its stock brokerage arm Ajaib Sekuritas was reported to become the fifth largest stock broker in Indonesia by number of trade, with more than 10 billion lots of stocks traded through the platform since its launch in June 2020.
“We're very excited to join Ajaib’s journey to augment broader financial inclusion as we believe it is a key building block of prosperity. Ajaib's investment platform offers unprecedented levels of transparency and efficiency, which will give young and budding investors the freedom to build out their financial futures with ease," said Frances Kang, director at Horizons Ventures.
"Investment sector in Indonesia is still underserved and one of the reasons is lack of accessibility. Ajaib addresses the issue and revolutionizes the industry in just 2 years. We are very impressed with Ajaib’s speed of growth and strong unit economics. We are excited to see Ajaib helping the next million investors in Indonesia invest better," said Jefrey Joe, managing partner at Alpha JWC Ventures.