Grab Invest in Bareksa's Series C Round

Today (25/11), the investment platform Bareksa, Grab, and OVO announced their commitment to further collaboration. On this occasion it was also announced, Grab has entered Bareksa's series C funding round. However, it did not mention in more detail about the nominal and other investors involved. This round is said to have been closed since last October 2021.

It was also conveyed, that this investment round became continuation of series B funding previously achieved by Bareksa 2 years ago. At that time, OVO also became one of the investors, with the support of a number of angel investors.

Country Managing Director Grab Indonesia Neneng Goenadi said, "Our investment in Bareksa strengthens the financial services business in Indonesia and reinforces our commitment to Grab Indonesia in encouraging the development of the startup ecosystem. With this synergy, we also plan to offer our partners and users opportunities to participate in the capital market through the Bareksa platform."

Through this synergy, Bareksa will gain access to users and partners Grab, offering them investment opportunities with payments handled by OVO, which is expected to help increase financial inclusion and literacy in Indonesia.

“Funding Grab to Bareksa will further strengthen the existence of Bareksa as marketplace mutual funds online The first integrated investment platform in Indonesia that has succeeded in becoming the e-investment platform of choice by offering quality, safe and diverse investment products and services," said Bareksa Co-Founder & CEO. Karaniya Dharmasaputra.

"The OVO-Bareksa synergy has proven that collaboration and innovation between digital payment platforms and wealthtech have a real positive impact on the expansion of capital market services. OVO Features | Invest which was first launched in early 2021 with the support of Bareksa, has now grown in offering mutual fund products both conventional and sharia-based, has succeeded in attracting hundreds of thousands of new customers," continued OVO CEO Jaygan Fu Ponnudurai.

Initiative Grab, Bareksa, OVO, and BenihBaik

On the same occasion, the #ThREEforGood initiative was also announced which was run with the platform through crowdfunding SeedGood. Through this program Grab, OVO, and Bareksa will donate 0,5% of the transaction value of each investment product purchase to be distributed to orphans due to Covid-19.

On that occasion Neneng also confirmed the investment from Grab for Good Seeds. Hosted by Andy F. Noya, BenihBaik is a fundraising platform focused on social missions. It is reported that BenihBaik has also received initial funding from Alpha JWC Ventures.

If examined more deeply, the four companies currently have strategic ties through investment Grab. Even for Bareksa-OVO it is even deeper, considering that currently Karaniya also serves as President of OVO.