Li Ka-shing’s Horizons Ventures leads funding round in operator of Indonesia’s fifth-largest stock brokerage
- Ajaib Group’s brokerage arm has emerged as Indonesia’s fifth-largest stockbroker following its launch in June 2020
- Horizons ‘very excited’ about investment, as it will lead to ‘broader financial inclusion’
Hong Kong tycoon Li Ka-shing’s Horizons Ventures has led a US$25 million funding round in Ajaib Group, an online investment platform that runs the fifth-largest stock brokerage in Indonesia.
Ajaib was founded in 2019 and its brokerage arm Ajaib Sekuritas has emerged as Indonesia’s fifth-largest based on the number of trades following its launch in June 2020. It has facilitated more than 10 billion lots of stock transactions on the platform. The company, which serves more than a million users every month on average, also operates Ajaib Reksadana, an online mutual funds platform.
Horizons was “very excited” about its investment, as it would lead to “broader financial inclusion”, said Frances Kang, a director of Horizons Ventures.
“Ajaib’s investment platform offers unprecedented levels of transparency and efficiency, which will give young and budding investors the freedom to build out their financial futures with ease,” she added.
