Crypto Asset Exchange Startup Pintu Reaches IDR 502 Billion in Funding
As one of the crypto-asset exchange companies in Indonesia, Pintu has announced that it has completed a series A+ funding round, with total funding of US$35 million.
The funding was led by Lightspeed and backed by Alameda Ventures, Castle Island Ventures, Blockchain.com Ventures, Coinbase Ventures, Pantera Capital, Intudo Ventures and others.
The company is committed to solving the problems of millennials and retail investors who want to invest in various crypto assets such as Bitcoin, Ethereum, and other assets. Designed for both novice and professional crypto investors.
Pintu helps investors trade, analyze, manage assets and learn about cryptocurrencies through a platform that is equipped with a simple UI/UX interface, comprehensive trading tools, advanced security features, and educational content.
Pintu is also designed to meet the needs of all walks of life. By focusing on mobile displays and smart features as a support for novice traders, this company provides more comprehensive and open access for both novices and experienced traders to be able to mitigate risks against market volatility and various other speculative measures.
Starting from IDR 11,000, Pintu offers a low minimum transaction value for both novice and experienced crypto investors, as well as being the first crypto mobile application specifically designed for the Indonesian target market.
Pintu Application Features Make It Easy for Beginners Investors
The advanced and specialized features of Pintu make it easy for novice investors who want to enter the world of crypto investing for the first time, as well as helping them to make informed decisions and manage risk when trading assets.
Jeth explained, Pintu also provides educational features that can be accessed through Pintu Academy, with a complete collection of articles and videos that can help crypto investors to learn and understand the basics of cryptocurrency.
Pintu is a crypto asset trader who has been officially registered with the Commodity Futures Trading Regulatory Agency (BAPPEBTI), thus guaranteeing cryptocurrency services and products.
According to an official representative from the Indonesian Ministry of Trade, as of June 2021, there are more than 6.6 million crypto investors in Indonesia, which is about 3 times larger than the 2.2 million public stock investors in Indonesia.
During the first half of 2021, the number of Downloads of the Pintu application has grown by 3.5 times, accompanied by 4 times increase in the number of active traders. This achievement is only through organic growth alone.
Now, Pintu offers 16 tradable crypto assets, and plans to add other coins that are in high demand by investors, including NFT tokens and other crypto projects that people are looking for.
To be able to provide maximum satisfaction for users, Pintu is also constantly developing new features such as Pintu Earn (which allows users to earn interest from various types of crypto assets) and e-wallet integration to facilitate the process of depositing and withdrawing funds.
The Company will Use the Funding to Strengthen Its Position
Through this funding, Pintu plans to strengthen its position as a crypto mobile application in Indonesia through recruiting new talent from different functions, strategic partnerships, launching mass education campaigns, as well as new products and features to enhance user experience and reach other asset classes.
With the support of investors, Pintu is committed to facilitating financial inclusion for all Indonesians. Lightspeed has invested in more than 17 crypto and blockchain companies worldwide including FTX, Blockchain, Offchain Labs, and many more.
Investors believe that crypto is on the cusp of becoming the most important asset class in the world, and will give rise to many companies that will become regional leaders.
“Pintu has created the strongest trademark, user experience and solid team we’ve come across in this field. We can’t wait to help them become a brand in the crypto world. Not only Indonesia, but in the next few years, it can also reach all of Southeast Asia,” explained Hemant Mohapatra, partner of Lightspeed.