Indonesia-based Stockbit, a social network for stock traders, has acquired local investment startup Bibit for an undisclosed fee to simplify investment process for first-time traders.
Prior to the acquisition, which took place late last year, Bibit was an OJK-licensed tech-based mutual fund seller. Following the deal, Stockbit has relaunched Bibit as a robo-advisory platform to simplify conventional time-tested investment products to the Indonesian public.
