Indonesian crypto trading app PINTU closes Series B on $113m

Indonesian crypto asset trading and investment app PINTU has closed its Series B on $113m. 

The round was backed by Intudo Ventures, Lightspeed, Northstar Group and Pantera Capital.

With the capital injection, PINTU plans to release new features, add more traded tokens, support blockchain technology and build new products. Additionally, the company is looking to bolster its Pintu Academy educational program to increase the literacy and knowledge around the crypto space.

The company’s team has doubled since 2021, and it is continuing its hiring drive. Key positions are open within its engineering, business and strategy, and human resources departments.

PINTU claims to have two million customers, which are able to make simple and safe investments into cryptocurrency. It supports a range of cryptos, including bitcoin, Ethereum, tether, binance coin, compound, chainlink, dogecoin and many more.

Several Indonesian FinTech companies have raised funds this year. WealthTech startup Finku recently collected $2.8m for its seed round, which was co-led by B-Capital, Global Founders Capital and Trihill Capital. The company offers a personal finance app that helps users control their finances, with tools including automated financial transaction recording, budgeting tools, insights dashboard and bill payment.

Another Indonesian FinTech to raise funds this year is InsurTech Qoala. The company raised $65m for its Series B round. The company distributes retail insurance products to consumers for bike, car, home and health through its omni-channel platform.

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