Investment Application Gets New Funding

One of Indonesia’s leading digital investment apps, Bibit, announced that it has raised over USD 80 million in a funding round led by GIC Private Limited (GIC).

This funding round was also attended by Prosus Ventures and other investors who had previously supported Bibit.

Seed will use this funding to launch new products and services, develop technology, recruit the best talents in Indonesia and strengthen various financial education programs in order to create an investment-conscious culture in the community.

Started its work as a platform for investors to share ideas about stock investment, news and information online real-timeStockbit launched Seed in early 2019.

As a pioneer of mutual fund robo advisory applications in Indonesia, Bibit continues to innovate in its products and services to democratize investment in the capital market, while enabling its users to diversify their investments into various asset classes.

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To date, Bibit has helped millions of investors, mostly millennials and novice investors, in 500 cities in Indonesia to build investment portfolios based on their risk profiles and financial goals in a safe, simple and easy way.

Over the past year, the company has recorded several achievements, including the launch of Stockbit Sekuritas, an e-IPO feature that allows users to participate in the IPO process 100% on line.

In addition, the inauguration of the Stockbit Academy as a means for the public to learn stocks for free from experienced financial mentors who were appointed by the Ministry of Finance as Distribution Partners (Midis) for the sale of Government Securities (SBN) in early 2022.

Bibit’s CEO & Co-founder, Sigit Kouwagam, said, “We believe that everyone deserves a better future. We are here to help Indonesians participate in the capital market and achieve their financial goals with the right investment methods.”

“We are very enthusiastic about welcoming GIC as our new investor and very happy for our investor partners who have been supporting us to accelerate this mission,” said Sigit in a statement, Wednesday (25/5).

Based on data from the Indonesia Stock Exchange (IDX) and the Indonesian Central Securities Depository (KSEI), the number of mutual fund investors in Indonesia grew by 80.3% (YoY) from 4.41 million investors in April 2021 to 7.95 million in April. 2022.

Meanwhile, in the same period, the number of stock investors increased by 66.7% (YoY) and has touched 3.83 million investors.

This growth was mainly contributed by retail investors, where more than half of these investors used Seed and Stockbit as investment applications.

Despite the significant growth, it should be noted that the number of people who invest in the capital market is still below 4% of the total population. (RO/OL-09)

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