Ajaib Group has received a US$270 million investment, or about Rp 4.78 trillion, from Japanese financial giant SBI Holdings, making it the Indonesian startup with the largest investment in the past five years (31/08).

The figure is based on an exchange rate assumption of Rp 17,723 per US dollar.

“This is the largest investment after the past five years for startup investment, Rp 4.8 trillion, US$270 million from a large group, SBI Holding from Japan,” Ajaib Group President Commissioner Andi Gani Nena Wea said at a press conference at the office of PT Ajaib Teknologi Indonesia in Jakarta on Monday (31/8).

Andi said the investment from SBI Holdings counters rumors that foreign investors are reluctant to invest in Indonesia's capital market. He said the investment also shows strong investor interest in Indonesia's ecosystem.

Investment Expected to Strengthen Ajaib's Services

Andi said Ajaib Group is expected to improve its services for investors through the investment, particularly for retail investors.

Most Ajaib users are retail investors, and many are not based in major cities.

“The progress of financial technology education has reached cities spread across Indonesia. Later, we will explain technically the data we have, and this is a step forward. We hope that with an investment of this size entering the startup investment world, it will add enthusiasm when there are many rumors that foreign investment is fleeing stock trading in Indonesia, but the proof is Rp 4.8 trillion entering Ajaib Group,” he said.

Ajaib Group's Total Capital Reaches US$500 Million

Ajaib Group Co-Founder and CEO Anderson Sumarli said the company's total capital raised has reached US$500 million, equivalent to about Rp 8.87 trillion.

The investment from SBI Holdings will be used to create jobs and expand Ajaib Group's human resources.

Investment to Fund New Ajaib Products

The funds will also be allocated to product development within the Ajaib application.

The company plans to add alternative investment instruments, including overseas stocks and digital assets.

“We hope that this level of confidence will open the way for more global capital to enter Indonesia's technology sector and create quality jobs in the artificial intelligence industry, data center industry, as well as the blockchain industry,” Anderson said.

PHOTO: AJAIB

This article was created with AI assistance.

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