“We believe that everyone deserves a better future. We are here to enable Indonesians to participate in the capital market and help people achieve their financial goals through the right investment. We are thrilled to welcome GIC as a new investor and delighted to have the support from our existing investor partners to accelerate this mission,” Bibit's CEO and co-founder, Sigit Kouwagam, said in a press release issued here on Wednesday.
The funds raised will be used for the launch of new products and services, tech development, acquiring top talent from the country, and strengthening the company’s financial education programs to create an investing-aware culture among the general public, he added.
Started as a platform for investors to share stock-investing ideas, news, and information in real-time, Stockbit launched Bibit in early 2019.
Bibit continues to focus on building innovative products and services to democratize investing in the country’s capital market, as well as enabling its users to invest in diversified asset classes, he added.
To date, Bibit has enabled millions of investors—mostly millennials and first-time investors—in 500 cities across the archipelago to build investment portfolios based on their risk profiles and investment goals in a safe, simple, and seamless way, Kouwagam informed.
As per IDX and Central Custodian data, the number of mutual fund investors in Indonesia grew 80.3 percent (year on year ) from 4.41 million in April 2021 to 7.95 million in April 2022, while during the same period, the number of stock investors swelled 66.7 percent (year on year) to reach 3.83 million.
The growth was primarily contributed by retail investors, with more than half the investors choosing Bibit and Stockbit as their investment application. Despite this rapid growth, however, less than four percent of Indonesians have participated in the capital market so far, Kouwagam highlighted.
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Reporter: Juwita Trisna Rahayu
Editor: Rahmad Nasution
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