Jakarta wealthtech Pluang raises $20m in pre-Series B funding
Indonesian wealthtech, Pluang, has raised $20 million in a pre-Series B round led by Openspace Ventures.
The fintech, founded in 2016, aims to offer investment and wealth management services to those new to the investing sector.
It offers savings products, including a gold-backed account that allows investment starting at 0.01 grams. The firm also offer US equity indices and cryptocurrency investment.
Pluang is available through integrations with local “super apps” Dana, Bukalapak, and Gojek. The investment arm of Gojek, Go Ventures, also participated in Pluang’s round.
Founder Claudia Kolonas says her firm will use the new funds to develop and launch new financial product to attract new customers.
Kolonas says some asset classes have previously only been available to the very wealthy in Indonesia.
“We believe that everyone should have the opportunity to grow their savings, and our new products will reflect this.”
Openspace Ventures founding partner, Shane Chesson, says Pluang has demonstrated “tremendous growth” over the last 12 months with “industry leading unit economics”.
He adds: “We’re excited to continue supporting the team, as they sustainably accelerate their ambitions to help every Indonesian grow their savings.”