Indonesia-based Pocket received undisclosed Pre-seed funding from East Ventures
Financial management platform Pocket, located in Indonesia, has secured an unknown sum of money in a pre-seed round headed by East Ventures.
The firm was established in October 2021, according to Markus Kevin (CEO) and Bravyto Takwa Pangukir (CTO), to address deficiencies in Indonesia’s financial system. These include restrictions on how users may handle joint accounts and the absence of financial literacy and banking for minors.
In order to do this, Pocket provides separate and trackable digital accounts. The platform, which mostly serves young families, enables the distribution of digital accounts and associated cards to various family members, each with its own spending caps, reporting, and statistics.
According to Pocket, it has recorded 2.5x and 3x increase in new users and overall spending value so far. It intends to use the additional cash for initiatives aimed at product penetration, for raising platform acceptance and user numbers, as well as for tech expenditures.
“We are confident to provide modern solutions to the current traditional banking landscape, serving as the right solution in closing the gap toward financial inclusion,” said Kevin.
