Pluang, a Jakarta-based fintech app specialising in digital micro-investment and micro-savings offerings, has raised US$ 55 million in a Series B funding round led by Accel on 12 January 2022.
Investors: The latest investment round featured Accel as the lead investor and involved participation from Square Peg Capital, Openspace Ventures, UOB Venture, Go-Ventures, BRI Ventures, Gold House and high-profile investors like Viet Anh, Sujata Bhatia, Sergio Jimenez, Jeffrey Zirlin and others.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round to develop its technology further and broaden its asset categories. It also aims to increase its presence in the critical global markets core to fulfil its vision of improving and promoting financial inclusion and literacy across Southeast Asia.
Brought to existence in 2019 by Marcellina Claudia Kolonas, Iwan Tjam and Richard Chua, Pluang enables Indonesian retail investors to invest in a range of assets while offering a satisfactory and easy-to-use experience. Diversification is the crucial parameter for mitigating risk for new investors. Pluang provides a broad class of micro-savings and micro-investing options, including crypto assets, gold, indexes, and mutual funds. The company plans to introduce a new feature that will permit customers to invest in fractional US single stocks. The firm, at present, serves over 4 million registered Indonesian customers. From 2020 to November 2021, Pluang witnessed a 22-fold growth in monthly transactions, and the users possessing an active balance grew by 28.5 times.
What the Founder has to say: “A few years back, several asset classes accessible on Pluang’s platform were offered only to the wealthy and privileged while the remaining populace had low financial literacy and possessed fewer investing options. The infusion of fresh capital will allow us to gain momentum and offer the resources, tools and wisdom required to back more users in creating long-term wealth. It is exhilarating to be financially supported by one of the leading global investors.”- Marcellina Claudia Kolonas, Co-Founder of Pluang.
What the Investor has to say: “The rising trend of mobile-first investors investing across numerous asset classes has emerged as one of the most captivating global fintech trends Accel has been seeking to invest in. It is exciting to back Pluang in its mission to deliver wealth-creating offerings and make the Indonesian and global populace more financially inclusive.”- Andrew Braccia, Partner at Accel.
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