Indonesian investment platform Ajaib gets $25 million Series A led by Horizons Venture and Alpha JWC
Ajaib Group, an online investment platform that says it now runs the fifth-largest stock brokerage in Indonesia by number of trades, announced it has raised a $25 million Series A led by Horizons Ventures, the venture capital firm founded by Li Ka-Shing, and Alpha JWC. Returning investors SoftBank Ventures Asia, Insignia Ventures and Y Combinator also participated in the round, which was made in two closes.
Founded in 2019 by chief executive officer Anderson Sumarli and chief operating officer Yada Piyajomkwan, Ajaib Group focuses on millennials and first-time investors, and currently claims one million monthly users. It has now raised a total of $27 million, including a $2 million seed round in 2019.
Li Ka-shing’s Horizons Ventures leads funding round in operator of Indonesia’s fifth-largest stock brokerage Ajaib has hired South Korean actor Kim Seon-ho as a brand ambassador. Photo: Twitter
Hong Kong tycoon Li Ka-shing's Horizons Ventures has led a US$25 million funding round in Ajaib Group, an online investment platform that runs the fifth-largest stock brokerage in Indonesia.
Ajaib was founded in 2019 and its brokerage arm Ajaib Sekuritas has emerged as Indonesia's fifth-largest based on the number of trades following its launch in June 2020. It has facilitated more than 10 billion lots of stock transactions on the platform. The company, which serves more than a million users every month on average, also operates Ajaib Reksadana, an online mutual funds platform.