Indonesia's Ajaib Secures $270M from Japan's SBI Holdings in Record Fundraise

Ajaib, an Indonesian online stock trading platform, has secured $270 million in funding from Tokyo-listed SBI Holdings. This investment is one of the largest fundraising rounds in Indonesia since 2022 and brings Ajaib's total funding to over $500 million.

The Series C funding round values Ajaib at a significant step-up from its 2021 valuation, although the exact figure remains undisclosed. The company claims it has grown exponentially since its inception as a Robinhood-like stock trading app with no minimum deposit.

Ajaib's cofounder and CEO Anderson Sumarli stated that their first customers were college students buying one share at a time. Today, those same customers hold global stocks, crypto, and stablecoins on the platform.