There was a significant financing boom for Southeast Eastern customer financial investment applications during 2015. Indonesia’s crypto trading app Pintu has raised a whopping $113 million in a Series B funding round.
The round was led by Intudo Ventures, Lightspeed, Northstar Team and also Pantera Funding.
Pintu was released during April 2022 and it describes itself as “Indonesia’s leading homemade crypto properties system.” This is the 3rd funding round that the start-up has actually landed in little over a year. The first was a $6 million Series A gathered in May 2021.
Pintu raised $35 million in the Series A+ round, barely two months after the Series A. Andrew Adjiputro, Pintu’s Chief Operating Officer, told sources that the company decided to do an A+ rather than a Series B since its focus on product development and execution remained the same.
This funding brings the firm’s total raised to approximately $156 million. The firm will use this funding to add more tokens as well as more supported blockchains along with new products.
The company is also in plans to expand its Pintu Academy program to “help traders understand both the opportunities and risks of crypto investing and promote healthier and sustainable trading practices.”
Additionally it will also expand its workforce just like it has done by doubling its team to 200 in 2021.
Pintu chief marketing officer Timothius Martin told sources that it has included more tokens, making a grand total of 66 available, with more added every month.
The Pintu app has also added additional payment channel integrations dubbed Pintu Staking. Pintu Staking lets users stake their Pintu Token and Pintu Earn. Pintu Earn is a product that allows users to gain up to a 15% annual percentage yield (APY) on specific crypto assets which are paid hourly without lock-up period.
Users are enabled to top-up or withdraw their Earn wallet any time.
Also Read: Indonesia to Levy 0.1% Income Tax on Crypto Transactions from May.
