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Pluang raises US$20 million in a pre-Series B funding round

Jakarta: Pluang, a wealthtech startup headquartered in Jakarta, announced today it has raised US$20 million in a pre-Series B round led by returning investor Openspace Ventures.

Other existing investors, including Go-Ventures, also participated.

With the fresh capital, Pluang plans to launch several new asset classes and provide users with proprietary financial products. One new focus will be to introduce a novel way to utilize government bonds as a savings product.

It also plans to onboard several new partners over time using a part of the capital.

Founded by Claudia Kolonas and Richard Chua while they were at Harvard Business School, Pluang provides easy access to micro-savings and micro-investment products in Indonesia. By logging into its mobile app, users can check or top up their accounts, make transactions, or cash out, anywhere anytime.

“We plan to expand our product offerings in 2021, focusing on new financial products to give our users simple and convenient access to a wider variety of asset classes. Previously, these asset classes were only available to the wealthy in Indonesia. However, we believe that everyone should have the opportunity to grow their savings, and our new products will reflect this,” said Kolonas.

“As a nation, Indonesians are just starting to get familiar with savings, investing, and growing their wealth. Pluang is making excellent inroads into educating new users, and getting them started on their savings journey,” said Aditya Kamath, Partner, Go- Ventures.

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