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Indonesia’s Pintu received $113 M from investors including Lightspeed

Intudo Ventures, Lightspeed Venture Partners, Northstar Group, and Pantera Capital have invested US $113 million in Pintu, an Indonesia-based crypto wallet and trading platform.

Pintu, which was founded in 2020 by Jeth Soetoyo, lets customers purchase and store more than 50 crypto assets, including Bitcoin and Ethereum. Pintu Staking, a savings function called Pintu Earn, and Pintu Academy, a crypto education service, are all available.

The company stated in a statement that its app has been downloaded over four million times.

According to the Indonesian Commodity Futures Trading Regulatory Agency, there are about 12 million cryptocurrency traders in the nation, accounting for over 4% of the population. In comparison, the country’s public stock investors number barely seven million.

Pintu intends to utilize the new funds to expand its crypto-asset portfolio, provide new services, and hire more employees. The company had roughly 200 workers at the end of last year.

The company secured US $35 million in a Series A+ investment round headed by Lightspeed Venture Partners in August 2021.

 

 

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