Indonesian funding platform FUNDtastic lands $7.7 million Collection A – TechCrunch

Regardless of the market affect of the COVID-19 pandemic, retail investing is rising in Indonesia, particularly amongst individuals aged 18 to 30. Immediately, funding platform FUNDtastic introduced it has raised a $7.7 million Collection A to faucet into that demand, with plans to launch new merchandise for retail buyers, studies DealStreetAsia.

The spherical was led Singapore-based Ascend Capital Group, with participation from different buyers together with tech holding firm Indivara Group. FUNDtastic plans so as to add retail bonds, insurance coverage and peer-to-peer lending to its present roster of mutual funds and gold funding choices.

FUNDtastic acquired Invisee, a mutual funds and securities portal, final yr for $6.5 million, permitting it to promote mutual fund merchandise immediately.

Primarily based in Jakarta, FUNDtastic was based in 2019 Harry Hartono, Franky Chandra and Medwin Susilo. Whereas capital investing in Indonesia stays comparatively low, with many preferring to put money into actual property as a substitute, that quantity is progressively rising as younger professionals diversify their holdings. The Indonesian Inventory Trade can be launching initiatives to draw extra retail buyers.

Different startups centered on making retail funding extra accessible to Indonesians embrace Ajaib and Bibit, which each just lately raised funding.

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