With participation from Coinbase Ventures, Skystar Capital, and AC Ventures, Reku, an Indonesia-based cryptocurrency exchange, has secured US $11 million in a series A fundraising round. Since its founding, Reku has never received outside support before.
The start-up also said that Jesse Choi, a seasoned IT executive from Bain & Company, Payfazz, and AC Ventures, has been named COO.
Reku, originally known as Rekeningku, is a marketplace where users may purchase and sell cryptocurrency assets. It was established in 2017 by Sumardi Fung and Robby. It claims to charge the least among all Indonesian exchanges.
Reku processed $3 billion of the $60 billion in crypto transactions that took place in Indonesia last year. There were 15 million cryptocurrency users in the nation as of June this year.
In addition to the 80 staff it presently employs, the business intends to add 50 more employees with the new financing.
