The new round was led by Lightspeed Ventures, with participation from returning investors like Alameda Ventures, Blockchain.com Ventures, Castle Island Ventures, Coinbase Ventures, Intudo Ventures and Pantera Capital.
Pintu’s previous funding, a USD 6 million Series A led by Pantera, Intudo and Coinbase Ventures, was announced in late May 2021. Pintu raised a Series A+, instead of a Series A extension or Series B, because its focus on product development and execution is still the same, as representatives say.
The company plans to use its Series A+ on aggressive hiring for all its teams and rolling out new features and products. During the first half of 2021, Pintu says app downloads grew by 3.5x through organic growth, while active traders on the platform increased by 4x. The platform currently offers trades on 16 cryptocurrencies, with plans to add more coins, including NFT tokens.
The company recently surveyed current users, asking about the top five asset classes they invest in. Crypto came in third after mutual funds and digital gold, and before stocks at number four. The preference for crypto over stocks is echoed in figures released by the Indonesian Ministry of Trade, which showed that as of June 2021, there were over 6.5 million crypto investors in Indonesia, or about triple the 2.2 million public equity investors in the country.
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