Indonesian investment intelligence platform Stockbit raises seed funding from Ideosource   

The team behind Stockbit. Visual from the company

Stockbit, a social analytics platform for stock traders and investors in Indonesia, announced that it has received a seed investment of an undisclosed amount from local VC firm Ideosource.

The startup plans to venture into mobile content with the newly acquired capital. The team will also use the funds to build its product, boost marketing efforts, and to speed up recruitment.

Traders and investors can utilise Stockbit’s advanced analytics tools to make more informed investment decisions on the Indonesia Stock Exchange (IDX). The company has reinvented the way people research and do their analysis. With Stockbit, users can store all their analysis in the cloud, and make professional investment decisions from anywhere.

Stockbit provides options not previously available to retail investors, including institutional-quality financial data, a sophisticated stock screener, and professional charting tools with real-time price and custom indicators.

In addition to monitoring the IDX from anywhere, traders can also share analysis and discuss the latest news in real-time on Stockbit’s social networking platform. For the first time ever, fellow traders in Indonesia can communicate and follow what other investors are doing within the platform.

“We find Stockbit interesting because it provides a level playing field between institutional and retail investors in Indonesia,” says Andrias Ekoyuono, VP of business development at Ideosource. “The team is tackling a very interesting market poised for huge growth, as the Indonesia Financial Services Authority wants to attract five million retail investors by 2017.”

“The Indonesian stock market, as with most emerging markets, is inefficient. This is partly due to the lack of available data and easy-to-access technology,” says Stockbit co-founder and CEO Wellson Lo.

“We believe by having an analytics platform online, coupled with quality data, it will help empower the market through better collaborative analysis. With better tools and a supportive community, we believe that Stockbit has potential to revitalize this industry in the long-term,” he said.

Stockbit was created by two friends who met in Melbourne. Wellson comes from a finance background and previously worked for KPMG Singapore, while co-founder and CTO Johny Susanto is a full-stack engineer. His experience with both front and back-end programming comes from nine years of related work experience in Australia and Indonesia.

Stockbit monetizes through a freemium subscription model. The startup’s premium features are comparable to those of a Bloomberg Terminal, but at a fraction of the cost.

Currently, almost 10 per cent of the total registered retail investors in Indonesia are Stockbit users, with an average duration of 8 minutes per visit. The startup is recording a 15 per cent month-to-month organic growth in unique users.

In the near future, Stockbit will launch its Android and iOS mobile apps. The startup will also provide brokerage services to users so they can trade directly from Stockbit. The team’s vision is to furnish traders and investors in Indonesia with an all-in-one, integrated platform to help them thrive on the local stock market.

Also Read: Indonesian IoT startup eFishery gets pre-Series A funding from Aqua­spark, Ideosource

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.