Ajaib Group, an online investment platform, raised a $25 mn Series A led by Horizons Ventures. Returning investors SoftBank Ventures Asia, Insignia Ventures and Y Combinator also participated in the round.
Ajaib Group focuses on millennials and first-time investors, and currently claims 1 mn monthly users. It has now raised a total of $27 mn, including a $2 mn seed round in 2019. Claims to be the fifth-largest stock brokerage in Indonesia by number of trades.
Ajaib may eventually expand into other Southeast Asian markets, but for the near future, it sees plenty of opportunity in Indonesia despite of low penetration rates.