NOBI Announces Initial Funding of 57 Billion Rupiah Led by AC Ventures

Crypto asset management platform developer startup NOBI (PT Encryption Teknologi Reliable) announced the acquisition of initial funding of $4 million or IDR 57,1 billion. This round was led by AC Ventures, with the participation of Appworks, Skystar Capital Cakra Ventures, Global Founders Capital, and a number of angel investors.

The fresh funds will be focused on developing products, increasing the penetration and utilization of Honest Token (HNST), and strengthening the team. As known, NOBI aims to help investors in diversifying assets into crypto and helping people who don't have much time to manage assets in a simple way.

Book 1 trillion Rupiah crypto transactions

This startup was founded by Lawrence Samantha (CEO), Edy Senjaya (CTO), and Dionisius Evan Alam (CPO). NOBI's main services consist of Staking, Savings and Trading Strategy, allowing users to enjoy attractive returns from Bitcoint, Ethereum and other leading crypto assets.

"This is an important milestone for us. AC Ventures and our other investors provide an immersive experience that is unmatched in fintech, investment and crypto. This investment round demonstrates their trust and commitment to what we can do to make a difference to bring the crypto and finance spaces together,” said Lawrence.

Since its establishment in 2018, NOBI is currently managing crypto assets worth more than 1 trillion Rupiah. All owned services are claimed to grow by 15x along with a significant increase in users in the last 6 months.

“In line with global trends, the demand for crypto assets in Indonesia is growing rapidly. Domestic trading volume has increased by more than 10x to exceed $60 billion by 2021 through more than 11 million user accounts. NOBI provides investors with various services that allow your users to earn interest. The user-friendly and intuitive NOBI platform makes it easy to start investing in cryptocurrency, said Founder & AC Ventures Managing Partner Michael Soerijadji.

Crypto enthusiasts continue to increase

According to data from BAPPEPTI as an extension of the regulator in Indonesia that handles crypto assets, the number of crypto investors in the country is growing 2x faster than other instruments such as stocks in 2021, reaching 11,2 million. Interesting, because this growth occurs in the midst of very dynamic crypto price fluctuations.

Throughout 2021, the value of crypto asset transactions in Indonesia has also reached $61,4 billion or more than 859 trillion Rupiah, an increase of more than 1222% compared to the previous year.

Rapid adoption of crypto is in the middle of a growth trend platform wealthtech in the midst of society. This is suspected to be increasing financial inclusion and literacy, making people begin to realize the importance of investing.

Although it is still a matter of fingers, a number of local platforms are trying to present applications that make it easier for people to invest in crypto, for example INDODAX, Tokocrypto, Pintu, and Pluang. More interesting because of product trends blockchain Others are also becoming known and growing in demand in Indonesia, for example NFT which also involves crypto assets for transactions.