Bibit Raises Over USD80M in Funding

Logo BIBIT

Over USD80M was raised by Bibit, a Jakarta-based provider of digital investment apps.

GIC Private Limited and Prosus Ventures led the round.

The funds will be used by the company to further develop the technology, launch products and services, attract talent from the country and to strengthen its financial education programs in order to promote an investment-aware culture.

Bibit, led by Sigit Kouwagam as CEO, is a digital investment app that offers a robo-advisory and robo-advisory services to help first-time investors invest into mutual fund products. To date, it has enabled millions of investors – mostly millennials and first-time investors – in 500 cities across the archipelago to build investment portfolios based on their risk profiles and investment goals in a safe, simple and seamless way. In the last year, several milestones have been achieved by the company.

  • Stockbit Sekuritas was launched, an e-IPO feature that allows users participate in a 100% online IPO process. Stockbit Academy provides stock market education from financial mentors free of charge.
  • Being appointed by the Ministry of Finance Republic of Indonesia to be a Distribution Partner in order to sell Government Securities (SBN), in the early 2022.

Bibit has been licensed under the Financial Services Authority’s (OJK) as a Mutual Funds Selling Agent.

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