Indonesian crypto platform Pintu bags US$113m in Series B funding

INDONESIA-BASED cryptocurrency platform Pintu on Tuesday (Jun 7) announced it has raised US$113 million in Series B funding from venture capital firms Intudo Ventures, Lightspeed, Northstar Group and Pantera Capital.

With the fresh funds, Pintu aims to roll out new features, including adding more tokens, supported blockchains and new products.

It will also invest into its Pintu Academy programme that helps traders understand opportunities and risks in crypto investing, as well as promote healthier trading practices.

In addition, the crypto platform will hire more staff for more functions. Last year, it doubled its team size to 200, including in leadership roles across engineering, strategy and people.

Founded in April 2020, Pintu has more than 4.7 million users as of May 2022. The platform allows users to invest into around 50 crypto assets such as Bitcoin and Ethereum.

“Indonesia’s crypto market has demonstrated remarkable growth over the past year, fuelled by regulatory encouragement and increased grassroots awareness,” said Jeth Soetoyo, founder and chief executive of Pintu.

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“We will continue building on this momentum by offering even more new app features and entering into new strategic initiatives to bring crypto to more Indonesians.”