SoftBank-backed investment platform Ajaib Group raises $25m in Series A round

Indonesia’s investment platform Ajaib Group has secured as much as $25 million in its Series A round, per an announcement.

The round was led by Li Ka-Shing’s Horizons Ventures, and Alpha JWC, with the participation of existing investors namely SoftBank Ventures Asia, Insignia Ventures, and Y Combinator.

The corpus raised will help Ajaib expand its technology infrastructure, ramp up headcount for engineering, and strengthen product offerings. A majority part of the capital will be used by the company for its education campaign to support the Indonesian government’s effort to educate millennials on investing and financial planning.

Founded in 2019, Ajaib Group offers two services. One is through Ajaib Sekuritas, an online stock trading platform, and the other is through online mutual funds platform Ajaib Reksadana. In a statement issued to the media, the company said Ajaib Sekuritas is the fifth-largest stockbroker in the archipelago with over 10 billion lots of stocks traded.

“Ajaib is laser-focused on seamless experience and education because those are important for millennial investors like myself,” said Ajaib Group co-founder and CEO Anderson Sumarli.

Meanwhile, Alpha JWC managing partner Jefrey Joe added that the investment sector in Indonesia is still underserved and lacks accessibility. “Ajaib addresses the issue and revolutionizes the industry in just 2 years,” added Joe in a statement.

Going forward, in 2021, Ajaib plans to include new generation of investors to Indonesia’s capital markets. As of December 2020, there are only 1,59 million stock investors in Indonesia, which accoutns for less than 1% of the country’s stock brokerage accounts. The company plans to launch several new offerings and expand its investment education campaigns targeted towards millennials.

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.