PINTU Completes Series B Funding Worth 1.6 Trillion Rupiah
Crypto asset trading and investment platform PINTU announced that it has completed a series B funding round of $113 million or IDR 1.6 trillion. This funding came from Lightspeed, Intudo Ventures, Northstar Group, and Pantera Capital.
Previously, PINTU had pocketed series A+ funding of $35 million or the equivalent of 503 billion Rupiah led by Lightspeed Venture Partners, and supported by Alameda Ventures, Castle Island Ventures, Blockchain.com Ventures, Intudo Ventures and Pantera Capital.
The fresh funds are planned to be used to launch new features, increase tradable tokens, support blockchain technology, and present various new products. To improve literacy and education for investors, they will invest heavily in the Pintu Academy educational program.
Pintu Academy is designed to provide education for investors about investing in crypto assets, from basic understanding to information about good and sustainable risk management.
To make it easier for crypto users in Indonesia, they built a PINTU for both new crypto asset investors and experienced investors.
“We believe that the adoption of crypto assets in Indonesia is only in its early stages, and educating the public is a very important fundamental to ensure this growth proceeds in a healthy way,” said PINTU Founder & CEO Jeth Soetoyo.
To support this growth, PINTU aggressively recruits top talent for all functions. Currently the staff growth at PINTU has doubled since 2021 — as of April 2022 there are more than 200 employees.
Launched in April 2020, PINTU is a local crypto platform in Indonesia. PINTU offers more than 50 tradable crypto assets such as Bitcoin and Ethereum.
Add Featured Features
PINTU has introduced various new features that can be used, including Pintu Earn which offers users to get rewards in the form of Annual Percentage Year (APY) which is paid hourly and without locking period.
There’s also the PTU Staking feature for Pintu Token (PTU) holders, simply by locking the PTU Token assets they have and will get various exclusive benefits.
“We will continue to build on this momentum by offering more new features and initiating appropriate strategies to bring crypto assets to more Indonesians,” said Jeth.
Currently, PINTU is supported by many payment channel options, such as bank accounts, to e-wallets that are integrated directly into the application.
Since its launch, the app has been downloaded by more than 4 million users. Legally, it is a crypto asset investment platform that is officially registered and licensed by the CoFTRA.
PINTU Experiences Surge
“The company will continue to build on this momentum by offering more new features and initiating appropriate strategies to bring crypto assets to more people. We always push ourselves to meet user needs and provide the best experience in investing crypto assets,” continued he.
Partner at Lightspeed, Hemant Mohapatra said that his party is excited to continue the journey with PINTU and welcomes the arrival of a new partner from the Northstar Group.
“Since investing in August last year, PINTU has increased by 5 times and has become the leading crypto asset investment service platform in Indonesia and recruited the best team we have ever seen in the industry,” said Mohapatra.
Then Partner at Pantera Capital, Paul Veradittakit said crypto adoption is happening everywhere and Indonesia has proven itself as one of the fastest growing crypto asset markets in the world.
“We continue to support PINTU in its efforts to bring the adoption of crypto assets and financial services in Indonesia, driven by innovative products, actively educating the market, and providing an investment experience that suits the needs of local investors,” said Veradittakit.
As for the Founding Partner of Intudo Ventures, Patrik Yip said Indonesia is currently seeing a very significant demand from the wider community for crypto trading assets.