1. Startups

Ajaib Closes Series A Funding Worth of 356 Billion Rupiah, Striving for Education and Acquisition of Millennial Users

Led by Horizons Ventures (Li Ka-shing) and Alpha JWC, participating also SoftBank Ventures Asia, Insignia Ventures, and Y Combinator

The investment platform which recently acquired Primasia Unggul Sekuritas (Primasia Sekuritas), Magic Group, announced Series A funding of $25 million or the equivalent of 356.3 billion Rupiah. This round was led by Horizons Ventures (Li Ka-shing) and Alpha JWC Ventures, followed by SoftBank Ventures Asia, Insignia Ventures, and Y Combinator.

Previously, Ajaib had joined the Y Combinator program in 2018, as well as raising the seed round. Funding continued the following year, securing funds worth $2.1 million from Y Combinator, SoftBank Ventures, Alpha JWC Ventures, and Insignia Ventures.

"I feel proud for Ajaib has become the best choice of most of the new stock investors in Indonesia. As a millennial, I know how difficult it is when I started investing. That's why Ajaib is so focused on millennials and better education," Ajaib The Group's Co-founder & CEO, Anderson Sumarli said.

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