Indonesian robo-advisor platform Bibit said to close $30m in funding

Indonesia-based robo-advisor platform Bibit has reportedly bagged $30m in funding, bringing its total equity raised to $45m.

Sequoia Capital India served as the lead investor, with East Ventures, EV Growth, AC Ventures and 500 Startups also returning to join the round, according to a report from TechCrunch.

This investment brings the FinTech’s total capital raised to $45m, the article said. The FinTech platform previously closed its Series A round back in 2019.

Bibit offers an automatic mutual fund investment platform, which helps consumers to easily build a diverse portfolio. The mobile app leverages technology that is supported by research of Nobel Prize winners to protect the consumer from risk and maximise profit via diversification.

Portfolios are tailored to each investor, taking into account their age, income and risk tolerance. It will also automatically rebalance to optimise allocation.

Last year, Indonesia-based bookkeeping platform BukuWarung secured a funding round between $10m and $15m. BukuWarung is available on mobile devices and can track all customer income, expenses and accounts payable and calculate turnover.

Fellow Indonesian FinTech company LinkAja reportedly collected $100m in its Series B round to support the growth of its electronic payments platform. The round was led by Southeast Asia ride-hailing giant Grab.

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