Stockbit Investment Community Platform Announces Pre-Series A Funding Raise (UPDATED)

In the moon September 2015, Stockbit's investment community platform received seed funding from Ideosource. Today they announced the acquisition of an undisclosed amount of Pre-Series A funds from 500 Startups. Also participating were former investors, Ideosource and Braavos Ventures. The funds will be used to fund the creation of features targeting millennials this year, including recruitment and expansion.

stockbit, founded by Wellson Lo, Johny Susanto, and Sigit Kouwagam, is based on Indonesia's low investment literacy. In its mobile application, Stockbit tries to help novice investors learn about investing, in the form of "copying" the portfolios of people who are more expert in this sector and "eliminating" fees to encourage novice investors to be more active in trading. Stockbit provides data and features that have only been owned by large investors/institutions.

This feature will later be embedded in the Stockbit mobile application that already exists on the iOS and Android platforms.

Partner 500 Startups Vishal Harnal commented in a release, "What Wellson and the Stockbit team have built has the potential to increase the pace of investment in the Indonesian stock market. They have a distinct advantage over the competition because they have become the largest and most active stock investor community in the country."