What Are Seeds (Perfect For Beginners!)


What Are Seeds
What Are Seeds

What Are Seeds – Bibit, a robo-advisor app looking to make investing more accessible in Indonesia, has raised $30 million from Sequoia Capital India. Returning investors East Ventures, EV Growth, AC Ventures and 500 Startups also participated.

What Are Seeds

The funding is a growth round and comes after May 2019 Series A Seeds. It brings the company’s total funding so far to $45 million, chief executive officer Sigit Kouwagam told TechCrunch.

What Are Seeds

Seeds
Seeds

As part of the Stockbit Group, around 90% of Seed’s users are millennials and first-time investors. Like other robo-advisors, Bibit’s goal is to make it easy to create portfolios tailored to each person’s risk profile and investment goals. Other investment apps in Indonesia that are taking advantage of the growing demand for retail investment products include Bareksa-backed Ajaib and SoftBank Ventures.

Seed claims that over the past year, it has registered more than one million first-time investors. As an example of market potential, the company cites data from the Indonesia Stock Exchange and the Indonesian Central Securities Depository which shows the number of retail investors in the country grew 56% year over year in 2020, with around 92% of new investors aged between 21 to 40 years. However, only about 2% of Indonesians participate in the stock market.

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