Bukalapak and Ashmore Establish "Open Digital Investment", Become the Parent of the Investment Business Unit

PT Ashmore Asset Management Indonesia Tbk announced that it has established PT Buka Investasi Digital (BID). This is a joint venture conducted with PT Bukalapak.com Tbk. This strategic action is marked by depositing capital in other forms (inbreg), namely the transfer of shares owned by Ashmore from PT Buka Investasi Bersama (BIB).

Prior to establishing BID, Bukalapak and Ashmore had established a strategic partnership to develop investment applications BMoney through the establishment of the BIB. Ashmore acquired 20% stake in BIB from Bukalapak. Later, BIB will be under the auspices of BID, becoming one of the investment platforms from the collaboration between the two companies. Service targets wealth management BID is not only for retail investors, but also for institutions.

This business strengthening strategy is carried out following the potential of investment platforms that are increasingly in demand by the public. According to data from the Indonesian Central Securities Depository (KSEI), the number of mutual fund investors as of February 2022 is 7,44 million customers, while for stocks the number is 8,1 investors. Average monthly increase of 3,05%. Meanwhile, for other assets, such as crypto, the demand is also not small. There were 12,4 million investors in this investment instrument.

Bukalapak's acquisition and expansion strategy

After conducting an IPO at the end of 2021, Bukalapak continues to take strategic steps to increase the company's growth. One of which is expand team in South Korea, by appointing Kim Juhee as Country Manager. Kim and his team are tasked with assisting in the analysis of trends and innovations that the company can adopt going forward. Bukalapak's steps are in line with previously announced corporate actions in order to expand the business beyond Bukalapak Partners.

Recently they have also acquire startup EdTech Bolu (PT Learning to Grow Sharing) worth $1 million (more than 14,3 billion Rupiah). Bukalapak fully acquired 11.340 shares through PT Kolaborasi Kreasi Investa (KKI) and PT Bina Unggul Kencana (BUK), and has been completed since January 11, 2022. Bolu is a startup EdTech which has been established since 2018 by Sandi Pratama and Deka Adrai. Bolu focuses on being a community and online learning place for home business development.

Besides Bolu, Bukalapak has announced a series of acquisitions. Based on the company's financial reports, including PT Onstock Solusi Indonesia, PT Ayo Tech Indonesia, PT Kokatto Teknologi Global, Five Jack Co. Ltd and PT Cloud Hosting Indonesia.