Internet and telecommunication group SoftBank has participated in a $153m series B round for Indonesia-based online investment platform developer Ajaib, DealStreetAsia reported yesterday, citing a company statement.
Investment firm DST Global led the round, which included Ribbit Capital, Iconiq Capital, IVP, Insignia Ventures, Alpha JWC and Horizons Ventures, while SoftBank invested through its SoftBank Ventures Asia subsidiary.
Ajaib’s platform allows users to buy and sell stocks and mutual funds, and the round took its valuation past the $1bn mark. The financing will be used to grow its product and engineering team and launch new products to attract users.
The company claims to oversee 1 million out of Indonesia’s 2.6 million stock accounts, having processed 32 million transactions so far this year, already a tenfold increase from 2020.
Ajaib closed its $90m series A round in March 2021 with a $65m tranche led by Ribbit Capital that also featured SoftBank Ventures Asia, financial services firm Bangkok Bank, Y Combinator Continuity, Iconiq Capital, Alpha JWC Ventures, Horizons Ventures, Insignia Ventures, David Velez and SG Lee.
The $65m second tranche followed a $25m first close in January this year co-led by Horizons Ventures and Alpha JWC Ventures, which were joined by Y Combinator and Insignia Venture Partners.
The company had already received $2.1m in seed funding from SoftBank Ventures Asia, Y Combinator, Alpha JWC, Insignia Ventures Partners and an undisclosed angel investor in early 2019.
