Pintu, a mobile-first crypto pockets and buying and selling platform in Indonesia, has closed a US$113 million Sequence B spherical of financing from Intudo Ventures, Lightspeed, Northstar Group, and Pantera Capital.
The startup will use the cash to roll out new options, together with further tokens, supported blockchains, and new merchandise. It should additionally make investments closely within the Pintu Academy programme to assist merchants perceive the alternatives and dangers of crypto investing and promote more healthy and sustainable buying and selling practices.
Pintu will proceed to aggressively rent high expertise throughout all features to assist these initiatives, having already doubled its workforce dimension to 200 members in 2021.
Launched in April 2020, Pintu gives millennials and retail customers a platform to spend money on crypto-assets corresponding to Bitcoin and Ethereum. It “presents complete buying and selling instruments, easy UI/UX, superior security measures”, and academic content material to help buyers in buying and selling, analysing, managing belongings, and studying about cryptocurrencies.
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It presents options corresponding to Pintu Earn (which permits customers to earn an annual share yield on chosen crypto belongings that’s paid hourly with no lock-up) and Pintu Staking (which presents many unique advantages for customers who stake their Pintu Token), and extra fee channel integrations to make depositing and withdrawing of funds simply.
Since its launch, Pintu claims over 4 million customers have put in its app, up from 500,000 in Could 2021. It additionally runs Pintu Academy, a programme designed to teach and train novice crypto merchants the ins and outs of buying and selling, acclimate merchants to crypto fundamentals, and perceive how you can make investments and sustainably handle threat.
Final August, Pintu raised US$35 million in an prolonged Sequence A financing, led by Lightspeed, in August 2021. This adopted a US$6 million Sequence A spherical, led by Pantera Capital, Intudo Ventures and Coinbase Ventures, in Could that yr.
Over the previous yr, the variety of crypto buyers in Indonesia has doubled to greater than 12 million merchants, in line with information from the Indonesian Commodity Futures Buying and selling Regulatory Company (Bappepti), in contrast with 7 million home public fairness buyers.
Indonesia’s crypto market nonetheless has vital room for progress, as crypto asset possession has solely reached a 4 per cent penetration charge.
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