PINTU Receives Series B Funding Worth Rp1.6 Trillion

JAKARTA - PT Pintu Kemana Saja, the brand name for PINTU, a crypto asset trading and investment platform, announced that it has completed a series B funding round worth US$113 million or Rp. 1.6 trillion. This funding came from Intudo Ventures, Lightspeed, Northstar Group, and Pantera Capital.

Launched in April 2020, PINTU is the leading local crypto asset trading and investment platform in Indonesia. DOOR offers more than 50 tradable crypto assets such as Bitcoin and Ethereum.

The PINTU application is specially designed for novice investors by offering an investment experience through an intuitive mobile app with superior features such as high-level security and easy-to-access Pintu Academy educational features.

The entire series and community involvement are presented to provide convenience and assist investors in making the right investment decisions, accompanied by good risk management against market volatility and various speculative movements.

In order to provide a crypto asset investment experience, PINTU presents 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.

Then, there is also the Pintu Staking (PTU Staking) feature for Pintu Token (PTU) holders, simply by locking the PTU Token assets they have and will get various exclusive benefits. In addition to providing convenience in making deposits and withdrawals, PINTU currently supports many payment channel options, such as bank accounts, to e-wallets that are integrated directly into the application.

Since its launch, PINTU has been downloaded by more than 4 million users. With this increase, PINTU has become the most downloaded trading platform for buying and selling crypto assets in Indonesia in the last few quarters based on data.ai.

This growth is also driven by the size of the Pintu community on Telegram, Discord, Instagram, and Tiktok with a total of more than 790,000 active followers every month. To meet the needs of users, PINTU has established Pintu Academy, an educational program designed to provide education for investors about the ins and outs of investing in crypto assets, from basic understanding to information on good and sustainable risk management.

Over the past few years, crypto asset investors in Indonesia have grown rapidly to more than double. Based on data presented by the Commodity Futures Trading Regulatory Agency as of February 2022, the number of crypto asset investors in Indonesia reached 12.4 million investors, surpassing 7 million stock investors.

The penetration of crypto asset investors in Indonesia has only reached 4% of the total population, for this reason, the growth of crypto asset ownership in Indonesia is predicted to continue to experience significant growth. Legally, PINTU is a crypto asset investment platform that is officially registered and licensed by the CoFTRA that serves retail traders or investors in Indonesia under the regulatory framework of the Republic of Indonesia government.

PINTU also actively collaborates with the Indonesian government to provide education on how to invest in crypto assets safely through various activities, including holding workshops, webinars, and various activities on social media.

Jeth Soetoyo, Founder & CEO of PINTU said, the crypto asset market in Indonesia has shown tremendous growth over the past year. We see this positive growth driven by several factors such as clearer regulations, as well as an increase in public knowledge of crypto assets.

"To make it easier for crypto users in Indonesia, we are building DOOR for both new crypto asset investors and experienced investors. We believe that crypto asset adoption in Indonesia is only in its early stages, and educating the public is of paramount importance to ensure this growth proceeds in a sustainable way. healthy," said Jeth in his statement, Tuesday, June 7.

Jeth added that his party will continue to build on this momentum by offering more new features and initiating various appropriate strategies to bring crypto assets to more Indonesians.

"We always push ourselves to meet user needs and provide the best experience in investing in crypto assets. We also give high appreciation to PINTU users who continue to support and help to realize our vision," he said.

Through this funding round, PINTU plans to solidify its position as a crypto asset platform by launching new features, adding traded tokens, supporting blockchain technology, and presenting various new products. To increase literacy and education for crypto asset investors, PINTU will invest heavily in the Pintu Academy educational program.

This is PINTU's commitment to provide education so that investors can understand the risks of investing in crypto assets and carry out healthy and sustainable trading and investment practices.

To support this growth, PINTU aggressively recruits top talent for all functions. Currently the staff growth at PINTU has doubled since 2021 where as of April 2022 there are more than 200 staff. The recruitment of the best talents includes strategic positions such as engineering, business & strategy, to human resources.

"We welcome our new partner from Northstar Group. Since investing in August last year, PINTU has grown 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. This wave of crypto assets is entering the mainstream globally, and PINTU is building a generation of companies in this category," said Hemant Mohapatra, Partner at Lightspeed.

Meanwhile, Paul Veradittakit, Partner at Pantera Capital said, “Crypto asset adoption is happening everywhere and Indonesia has proven itself as one of the fastest growing crypto asset markets in the world. Crypto is a global asset class, and PINTU has become the main gateway for Indonesians to gain access to invest in crypto assets together with global investors.

"Pantera continues to support PINTU in its efforts to bring the adoption of crypto assets and financial services in Indonesia, driven by innovative PINTU products, actively educating the market, and providing an investment experience that suits the needs of local investors," said Paul.