Money talk. Bibit's in for some congratulations — they've just raised $80M+ in a new round. This Indonesian investment app allows anyone to easily hit their financial goals by investing in mutual funds.

• Bibit was launched by Stockbit, a stock trading and investing community platform, in 2019.
• Beginner? Don't sweat it — most of their millions of users are millennials and first-time investors.

Who cashed in? The round was led by GIC Private Limited (GIC). Prosus Ventures and existing investors also joined in.

• The money keeps coming. Last year, Bibit raised not one, but two growth rounds, one for $30M in January and another for $65M in May.
• Previous investors include Tencent, Sequoia Capital, East Ventures, AC Ventures and 500 Global.

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💰 How it works

Fit for you. Based on some questions, Bibit will use its robo-advisory tech to match you with a recommended mutual fund portfolio allocation fit for your risk profile. Oh, and you can make adjustments if you'd like too!

• For anyone. Did we mention you can start with as low as 100,000 IDR? (aka, $6.84)
• Mutual funds are lower-risk than stocks, more diversified and much simpler.

No hassle. They'll manage and automatically rebalance your portfolio with changes like you getting older and more. Plus, you can cash out anytime.

Eyes on the prize. They also make you set goals like: target amount to reach, a target date and a monthly amount. It's hard for new investors to stay on track— so you'll never forget why you started.

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🤑  Check the numbers, baby!

Oh so fast. The number of Indonesian mutual fund investors grew 80.3% YoY from 4.41M in April 2021 to 7.95M in April 2022.

At the same time, the number of stock investors grew 66.7% YoY to 3.83M. (So yeah, both are moving fast, but mutual funds are on top!)

• Lots of room to grow! Despite these crazy numbers, less than 4% of Indonesians participate in the capital market.

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🔜  What's next?

They'll be launching new products and services, doubling down on its tech, hiring and growing their financial education programs.