![]() It’s also deciding what coins to add next. The company is getting ready to launch new features, like Pintu Earn, a crypto asset account that lets users earn interest on a variety of crypto assets, and e-wallet integration for easier deposits and withdrawals. While Pintu’s target demographic is millennials, it’s also attracting older demographics, including people who have traded other assets, like stocks, but want to learn more about the fundamentals of crypto trading.īibit raises another growth round led by Sequoia Capital India, this time for $65MĪdjiputro said Pintu’s focus on education is what differentiates it from other Indonesian crypto platforms like Indodax and Tokocrypto. For example, one of its features is Pintu Academy, a collection of articles and videos. Instead of encouraging users to make an investment when they open the app for the first time, Pintu presents them with educational materials. In Indonesia, we are now at a stage where people have heard about crypto, about Bitcoin, are very interested and may already want to invest, but there are not many options that are easy enough for them to understand." “It’s easy to start investing and also withdraw assets. ![]() He told TechCrunch that the number one draw was accessibility. Timothius Martin, the company’s chief marketing officer, was a first-time investor when he started using Pintu. ![]() It has a low minimum investment rate of 11,000 IDR, or about 75 cents USD, making it more attractive to new investors. Pintu is a licensed crypto broker under the Indonesian Commodity Futures Trading Regulatory Agency (BAPPEBTI). The preference for crypto over stocks is echoed in figures released by the Indonesian Ministry of Trade, which showed that as of June 2021, there were over 6.5 million crypto investors in Indonesia, or about triple the 2.2 million public equity investors in the country. Crypto came in third after mutual funds and digital gold, and before stocks at number four. ![]() The company recently surveyed current users, asking about the top five asset classes they invest in. While the rate of retail investment in Indonesia is still low, it's growing quickly because of a confluence of factors, including people’s desire to diversify and increase their assets during the pandemic.įor many of Pintu’s users, the app was their first introduction to investing instead of stocks, Adjiputro said. “We have a lot of education on our platform and it attracts this new breed of investors who want to learn more.” “They became curious and the bread and butter of our business is essentially education,” said Adjiputro. “It’s good momentum for us to launch new products and grab the market.”Ĭoinbase opens at $381 per share, valuing the crypto exchange at nearly $100B “With the Coinbase IPO and a lot of new users onboarding, we think it’s the right time for us to raise a larger round to finance faster growth,” he said. Other examples include Bibit, Ajaib and Syfe.Īndrew Adjiputro, Pintu’s chief operating officer, told TechCrunch that Pintu raised a Series A+, instead of a Series A extension or Series B, because its focus on product development and execution is still the same. Pintu is the latest investment app in Southeast Asia to quickly raise a much larger follow-on round as interest in retail investing grows. Pintu’s previous funding, a $6 million Series A led by Pantera, Intudo and Coinbase Ventures, was announced in late May. The new round was led by Lightspeed Ventures, with participation from returning investors like Alameda Ventures, Ventures, Castle Island Ventures, Coinbase Ventures, Intudo Ventures and Pantera Capital. Just two months after its last funding announcement, Indonesian crypto assets platform Pintu has closed a $35 million Series A+.
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