Business is booming.

Jakarta-based investment app Pluang raises $55M led by Accel – TechCrunch

47


Jakarta-based investment app Pluang announced that it has raised $55 million led by Accel. This is a follow-on to its Series B and brings that round’s total to $110 million. The funding will be used to make Pluang available in more Southeast Asian countries, increase its asset classes and on hiring. 

Pluang’s last round of funding was a $3 million Series A in 2019. 

Other participants in the newest round include Trung Nguyen, Andy Ho, Aleksander Leonard Larsen, and Jeffrey Zirlin, founders of Axie Infinity founders; Alexa von Tobel, former Learnvest CEO); Pismo CTO Daniela Binatti; Monzo COO Sujata Bhatia; Public.com co-CEOs Jannick Malling and Leif Abraham; FalconX CEO Raghu Yarlagadda; Flink CEO Sergio Jimenez (Flink CEO), The Chainsmokers and BRI Ventures. Existing investors Square Peg, Go-Ventures and Openspace Ventures also contributed. 

Launched in 2019, Pluang started with gold and has since grown its range of asset classes, so investors can diversify their holdings and decrease risk. Investments can start as low as IDR 10,000 (or less than $1 USD) in gold, indexes, mutual funds and crypto assets. The app is also launching a new features that will users to invest in fractional U.S. stocks. 

“Affordability is an incredibly important thing to address for our new retail investors,” said co-founder and co-CEO Claudia Kolonas. 

Pluang is integrated in Indonesian super apps like Gojek, DANA, Tokopedia and Bukalapak, and now claims 3.5 million registered users in Indonesia, and says that from January 2020 to November 2021, it marked 22x growth in monthly transacting users and 28.5x growth in users with an active balance. 

Indonesia has high rates of savings and relatively low rates of retail investing, but that is quickly changing.

Other investment apps focused on Southeast Asia include Indonesia-based Pintu, robo-advisor Bibit and Ajaib and Singapore-based Syfe.

Kolonas said the new interest in investment is driven by the country’s high rates of smartphone penetration and savings per capita. “Because of this, there are millions of potential first-time investors just starting to establish money management habits and practices that were previously impossible where they live. Until very recently, most of the asset classes that can be accessed through Pluang were only available to the privileged and wealthy while most others were faced with low financial literacy and very limited investing options.” 

Like many other investment apps in Indonesia, Pluang includes financial literacy features, which Kolonas said it is “laser-focused on” improving. The new funding will enable Pluang to “provide the tools, resources and education necessary to set our users up for long-term wealth creation.” 

In a statement to TechCrunch, Accel partner Ethan Choi said Pluang is Accel’s fourth investment in consumer-focused investment apps globally, after the United States’ Public.com, Europe’s Trade Republic and Latin America’s Flink. “We were looking for the leader in Southeast Asia,” he said, adding that “after meeting Claudia and Richard [Chua, Pluang’s other co-founder and co-CEO], we were deeply impressed by the traction they have achieved on minimal capital and the fact that they were the only player that had the licenses and product to offer multiple asset classes including equities, indexes, and crypto – which we believe is critical to building a big business in the region.”



Source link

47 Comments
  1. Cgpbbt says

    digoxin 250 mg us – trandate 100mg brand order furosemide 40mg sale

  2. Vfbymr says

    hydrochlorothiazide price – buy bisoprolol 5mg generic purchase bisoprolol without prescription

  3. Egclbf says

    lopressor 50mg pill – order telmisartan 80mg online cheap order adalat 30mg sale

  4. Jhvbfw says

    nitroglycerin pill – buy clonidine 0.1 mg for sale diovan without prescription

  5. Butdbo says

    crestor pills fifth – caduet pills spark caduet online stool

  6. Jhswcd says

    zocor frog – lipitor coat atorvastatin father

  7. Ygbffv says

    buy viagra professional meal – levitra oral jelly online ghastly levitra oral jelly online troll

  8. Pyvkvq says

    dapoxetine hollow – zudena offer cialis with dapoxetine effect

  9. Cyxlcp says

    cenforce online flare – brand viagra pills sand brand viagra flag

  10. Chzrdd says

    brand cialis burn – zhewitra possibility penisole anywhere

  11. Vzkheq says

    cialis soft tabs pills bob – cialis super active underneath1 viagra oral jelly steady

  12. Sjooen says

    brand cialis cluster – alprostadil absurd penisole success

  13. Kxlomp says

    cialis soft tabs pills trickle – tadarise sweet viagra oral jelly kneel

  14. Gxaxqf says

    cenforce online bend – tadalis online able brand viagra online trouser

  15. Rehisz says

    dapoxetine likewise – dapoxetine hard cialis with dapoxetine character

  16. Nsifkx says

    acne treatment valentine – acne treatment sea acne treatment rail

  17. Toyyvd says

    inhalers for asthma westward – asthma treatment oil asthma treatment final

  18. Zkttut says

    valacyclovir online sore – valtrex online corridor valacyclovir pills settle

  19. Irfsbp says

    claritin fifteen – loratadine medication soldier claritin blink

  20. Bbhboj says

    loratadine sweet – loratadine medication opportunity claritin curtain

  21. Tjmcfw says

    priligy smoke – dapoxetine shuffle priligy scientific

  22. Fxrfir says

    ascorbic acid again – ascorbic acid punch ascorbic acid thud

  23. Wtxtlg says

    biaxin pills tune – cytotec pills four cytotec hospital

  24. Hkxjze says

    fludrocortisone arise – fludrocortisone pills pocket prevacid pills entertain

  25. Rdvfah says

    dulcolax sale – loperamide sale buy liv52 20mg online cheap

  26. Deparf says

    order aciphex pills – order reglan 20mg pills order generic motilium

  27. Bqkhgd says

    cotrimoxazole 960mg pill – tobrex 10mg sale order tobramycin 10mg drops

  28. Swfezc says

    buy eukroma cheap – hydroquinone canada dydrogesterone over the counter

  29. Fmdvur says

    order forxiga 10 mg generic – order doxepin 75mg pills precose us

  30. Yehooa says

    fulvicin 250mg usa – lopid 300 mg price order lopid

  31. Jeolvg says

    how to buy vasotec – buy latanoprost online buy latanoprost medication

  32. Olcuyy says

    order dimenhydrinate 50mg generic – prasugrel 10 mg generic buy actonel 35mg generic

  33. Cimmwb says

    monograph where to buy – buy pletal 100 mg without prescription pletal order

  34. sitemap says

    Your meethod oof dscribing aall iin thiss aticle is actually fastidious, every onne be ale to simplyy bee aware of it, Thanks
    a lot.

  35. top skincare says

    It’s very trouble-free to find out any matter on web as compared to books, as I found this paragraph at this web page.

  36. ahr147 says
  37. ahr147 says
  38. ahr147 says
  39. 888999 says
  40. 888999 says
  41. 888999 says
  42. KingSeven says
  43. pingguo11 says
  44. chenchen123 says

    好玩的游戏 new rummy app

  45. chenchen123 says

    探索潮流之巔:Nike Air Force 聯名的無限魅力 stussy x nike air force 1

  46. chenchen123 says

    探索經典魅力:Adidas Samba 與 Samba OG 的不朽傳奇
    adidas samba哪裡買最便宜?

  47. shangban666 says
Leave A Reply

Your email address will not be published.