With a Series B round led by Accel, Indonesia-based investment super-app, Pluang announced that it has raised an additional US$55 million.
This adds up to an investment total of US$110 million for Pluang, as this is a follow-on round to its previously announced Series B.
Pluang's Accelerated Growth
Pluang was founded in 2019 by Richard Chua and Claudia Kolonas after both of them graduated from Harvard.
The fintech app offers users to purchase various investment assets, which include gold, mutual funds, and cryptocurrencies.
Users on the platform are able to invest as low as IDR 10,000 (US$0.70) in the assets provided.
“Affordability is an incredibly important thing to address for our new retail investors,” co-founder Claudia Kolonas said.
Pluang is integrated into other Indonesian super-apps like Gojek, DANA, Tokopedia and Bukalapak resulting in more than three million registered Indonesian users.
Between January 2020 and November 2021, a 22x growth in monthly transacting users and a 28.5x growth in users with an active balance were reported.
Other Investors For This Round
- Founders of Axie Infinity, Trung Nguyen, Andy Ho, Aleksander Leonard Larsen, and Jeffrey Zirlin
- Alexa von Tobel, former Learnvest CEO
- Daniela Binatti, Pismo CTO
- Sujata Bhatia, Monzo COO,
- Jannick Malling and Leif Abraham, Public.com co-CEOs
- Raghu Yarlagadda, FalconX CEO
- Sergio Jimenez, Flink CEO
- The Chainsmokers
- BRI Ventures
- Gold House
Aims to Add More Asset Classes and Expand Regionally
With fresh funds available, the company is focusing to increase its asset classes to include Indonesian stocks and more global equities.
Moreover, Pluang is also in the works of allowing users to purchase fractional US single stocks.
Pluang also plans to penetrate other Southeast Asia countries in the near future.
