𝗔𝗷𝗮𝗶𝗯 𝗥𝗮𝗶𝘀𝗲𝘀 $𝟮𝟳𝟬 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 𝗙𝗿𝗼𝗺 𝗦𝗕𝗜 𝗛𝗼𝗹𝗱𝗶𝗻𝗴𝘀 𝗶𝗻 𝗜𝗻𝗱𝗼𝗻𝗲𝘀𝗶𝗮'𝘀 𝗟𝗮𝗿𝗴𝗲𝘀𝘁 𝗧𝗲𝗰𝗵 𝗥𝗼𝘂𝗻𝗱 𝗦𝗶𝗻𝗰𝗲 𝟮𝟬𝟮𝟮

Ajaib, a Jakarta based online stock trading platform, said Friday it has raised $270 million from Tokyo listed SBI Holdings in what could be Indonesia's biggest fundraising round since 2022. The Series C brings the company's total funding to more than $500 million since its founding. Ajaib did not disclose a current valuation but said the round represents a significant step up from the unicorn valuation it reached in 2021 on a $153 million Series B. SBI said separately that it will hold a 20% stake, which would value Ajaib at roughly $1.35 billion.

Ajaib, which means magical in Indonesian, launched in 2019 as a Robinhood style trading app with no minimum deposit, built for millennial and Gen Z investors. Cofounders Anderson Sumarli and Yada Piyajomkwan, Stanford M.B.A. classmates, joined Forbes Asia's 30 Under 30 list the following year. The platform now serves more than seven million users. Sumarli said customers who once bought a single share at a time as college students now hold global stocks, crypto and stablecoins on the platform.

Yoshitaka Kitao, founder, chairman and president of SBI Holdings, said global infrastructure for digital assets matters more than ever in an era of tokenization, and described Ajaib as a fit for SBI's vision because it handles traditional financial products alongside digital assets. For platform operators and integrators, the round signals that mobile first brokerages with large, young installed bases remain attractive to strategic partners.