Indonesian Investment Platform Ajaib Raises US$270 Million, Delays IPO Plans
Indonesian digital investment platform Ajaib has received US$270 million, or about Rp 4.8 trillion, in a major funding round from Japan-based SBI Holdings, and the company has said it does not plan to pursue an initial public offering in the near term. The announcement positions the platform to strengthen its workforce and product development as it expands its capital market business.
- Ajaib raised US$270 million (about Rp 4.8 trillion) from Japan-based SBI Holdings.
- The company said it has no immediate IPO plans and will use the funds to strengthen its team and develop products.
- Ajaib said it helped nearly 20 companies list via its e-IPO mechanism in the past 12 months.
Focus on People and Products
CEO and co-founder of Ajaib Group Anderson Sumarli told a press conference in Jakarta on Aug 31 that the funding will first be directed to reinforcing human resources and developing products. Recruitment will focus on engineering, product, business and operations roles.
“For now we have no plans to go public because we have just received the funds,” he said. The company has around 700 employees, and it does not set a quantitative target for additional hiring, preferring instead to secure quality talent that can support growth and product innovation.
Supporting Company Listings
Over the past 12 months Ajaib said it helped nearly 20 companies complete their initial public offerings through its e-IPO mechanism, which lets retail investors take part directly. The platform also holds a pipeline of companies that could potentially list next year, although the identity and sector of those firms have not been disclosed.
Alongside this, Ajaib is deepening its capital market business, including acting as a securities underwriter. Anderson said the company wants to help Indonesian companies that remain private gain access to the capital market and broaden participation among younger investors.
No Fixed Hiring Target
The company did not set a fixed number for staff expansion. “We have never set targets for that, but what we can confirm is that we see a big opportunity to recruit in Indonesia,” Anderson said.
FAQ
Who invested in Ajaib?
Japan-based SBI Holdings provided the US$270 million funding, equivalent to about Rp 4.8 trillion.
Does Ajaib plan to go public soon?
No. The company said it has no near-term IPO plans and will first use the capital to strengthen its team and develop its products and services.
What has Ajaib achieved in listings?
Ajaib said it helped nearly 20 companies list over the past 12 months through its e-IPO mechanism, enabling retail investor participation.
Source: Katadata
