Indonesian cryptocurrency exchange, Pintu has raised $113 million (approximately Rs 878 crore) in its Series B funding round. Intudo Ventures, Pantera Capital, and Northstar Group all participated in the funding round, and previous investor Lightspeed Venture Partners also participated in the round. With the new inflow of capital, the start-up says it plans to launch new features and products as it seeks to continue its growth. The firm also plans to invest in the Pintu Academy educational program to help investors improve their knowledge of crypto, better understand the risks of investing in crypto assets, and develop healthy and sustainable trading and investment practices. be able to complete
Licensed by the Commodity Futures Trading Regulatory Agency (Bappebati) under the Ministry of Trade, Pintu caters to Indonesian crypto investors dealing in popular cryptocurrencies, including Bitcoin And ether,
Bappety previously highlighted the doubling in the number of Indonesian crypto investors in 2021-2022, with Pintu founder and CEO Jeth Soetoyo saying, Told TechCrunch, “We believe that in crypto adoption Indonesia It is only in its early stages, and educating users on the fundamentals is vital to ensure that this development continues in a healthy manner.”
According to SoToyo, Pintu was launched in April 2020 and is one of the top three Indonesian crypto exchanges. The firm does not publicly disclose its trading volume. Its local rivals include Indodax and TokoCrypto.
With fresh capital in hand, Pintu mentions an interview The firm by The Block plans to continue growing in Indonesia, the world’s fourth most populous country, and provide access to new products and services such as Decentralized Finance (DeFi) And non-fungible tokens (NFTs), “We need to consolidate our position in the market. I think that’s a big part of our focus,” Soetoyo said.
To this end, Pintu plans to double its current strength of about 200 people in various operations over the next two years, Soetoyo said.