Pintu is a cryptocurrency investment platform in Indonesia aimed towards millennials who are beginners when it comes to investing.
After raising $6 million in its Series A funding led by Pantera last May, Pintu closed its recent investment round led by Lightspeed Ventures at $35 million.
Key Highlights
- The fresh funding from the Series A+ round was also participated by Castle Island, Coinbase, Intudo, and Pantera Capital Ventures.
- As demand in retail investment soars, Pintu is the latest investment app in Southeast Asia that rapidly increases a 'larger follow-on round'.
- The user base for Pintu's app increased by 3.5x during the first half of this year, raising the number of its active traders by 400 percent.
- Pintu currently supports 16 cryptocurrencies including Bitcoin and Ethereum, and it plans to add more coins including NFT tokens, in the future.
Why it Matters
- One of Pintu's existing features is Pintu Academy which consists of introductory videos and articles about crypto investing.
- Compared to other cryptocurrency platforms, Pintu educates its users through useful materials before making an investment when they first open the app.
- Pintu plans to use the fresh funds to add new features and services, such as Pintu Earn, which pays interest on a variety of crypto assets and includes e-wallet connectivity for faster transactions.
