The investment application, Bibit, has just been flooded with money by investors amounting to USD 80 million.
The funds were raised from a new round of funding led by GIC Private Limited (GIC) and followed by Prosus Ventures and other investors who had previously supported Bibit.
This funding will be used by Bibit to launch new products and services, develop technology, recruit the best talents in Indonesia and strengthen various financial education programs in order to create an investment-conscious culture in the community.
"We believe that everyone is entitled to a better future. We are here to help Indonesians participate in the capital market and achieve their financial goals with the right investment methods. We are very enthusiastic to welcome GIC as our new investor and are very pleased for the investor partners who have been supporting us to accelerate this mission, "said Sigit Kouwagam, CEO & Co-Founder of Bibit, Wednesday (25/5/2022).
The Seed Application was launched by Stockbit in early 2019 and received funding from several investors including East Ventures. As a pioneer of mutual fund robo advisor applications in Indonesia, Bibit continues to innovate in its products and services to democratize investment in the capital market, while enabling its users to diversify their investments into various asset classes.
To date, Bibit has helped millions of investors, most of whom are millennials and novice investors, in 500 cities in Indonesia to build investment portfolios based on their risk profiles and financial goals in safe, simple, and easy ways.
Over the past year, the company has made several achievements, including the launch of Stockbit Securities, an e-IPO feature that allows users to participate in a 100% online IPO process, the inauguration of the Stockbit Academy as a free stock learning community from experienced financial mentors and appointed by the Ministry of Finance of the Republic of Indonesia as a Distribution Partner (Midis) for the Sale of State Securities (SBN) in early 2022.