Closing a US$25 million Series A round is a big deal in Southeast Asia.
Following it up with another US$65 million just two months later? That’s really impressive.
Now top that off with the fact that this three-year-old company, prior to these deals, had raised just US$2 million in total. That’s a 2 to 90 jump for Indonesia’s Ajaib—an investment app in the mould of US giant Robinhood—in the time between its January 2021 Series A and the extension that followed last month.
What’s notable isn’t just the capital raised, but who it came from.