We're excited to continue actively backing Pluang as it announces its latest funding close of $55M, which added an additional US$35 million to the US$20 million raised in March 2021.
As a leading Indonesian wealth-tech, with a focus on investment diversification and education, Pluang is continuing its mission to help everyone experience the thrill of investing wisely.
Pluang will use the additional funding to accelerate proprietary products to market for its customer base and hire talent.
Currently, Pluangoffers Indonesian retail investors the ability to invest in gold, equity indices, mutual funds and cryptocurrencies. Amongst all wealth-tech start-ups in Indonesia, Pluang offers the broadest suite of asset classes. It allows users to make micro-savings and micro-investing contributions (from as low as~US$0.50) across asset classes, all within one app, ensuring an easy and frictionless experience. Diversification is key to reducing risk for users when first learning to invest, and Pluang is at the forefront of building a stronger foundation for more investors.
Additionally, in a country with very low financial literacy, Pluang puts a strong emphasis on educating its customers on investing and long-term wealth creation. The company believes financial education requires a joint effort and works with ecosystem partners with large existing user bases to make a difference in educating users. Pluang has been selected to provide mini-apps within large ecosystems –including Gojek, Dana and Bukalapak, with several more in the pipeline.
Openspace has been part of the journey from an early point, and since being founded in 2019, Pluang has amassed almost 3 million registered users while remaining incredibly capital efficient, with less than US$3million of marketing spend to date.
In talking about the investment and operational help that Openspace, amongst other key investors, have provided,Claudia Kolonas said, “being a founder is always tough. It’s not the long hours that get you, it is the hours of obsession and sleepless nights,worrying about everything from Talent Acquisition to Competitors to Customers. That is why at Pluang we are obsessive about selecting the right shareholders. Those who are willing to stay up at night with us when we can’t sleep. I can’t emphasize enough how proud we are to have not just shareholders, but friends on our cap table... who on many occasions are down in the trenches with us – [helping] to get us to where we are.”