Pintu Raises $113M in Series B to Meet Indonesia’s Crypto Boom -Breaking
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Pintu Raises $113M in Series B to Meet Indonesia’s Crypto Boom- Pintu, a crypto-asset platform licensed in Indonesia, raises $113 Million in Series B
- Pintu intends to use the funds for new features, such as blockchains and supported coins.
- Celebrities have helped to fuel the popularity of cryptocurrency.
Pintu is an Indonesian-registered cryptocurrency asset platform that recently completed the series B financing, raising $113 million.
Pintu is the preferred method of payment for most Indonesian crypto-investors who trade popular cryptocurrencies, such as (BTC) or (ETH), and this contributes to the Platform’s Series B funding.
Pintu received $36 Million in venture capital funding from Intudo Ventures and Lightspeed Venture Partners. Pantera Capital was also involved. Northstar Group is an investment advisory company. According to prior news, Lightspeed led Pintu’s $35 million Series A extension in August.
Pintu is said to be using the money to fund new features like more blockchains and coins as well as product development. The exchange has increased its staff to 200 last year and will continue its aggressive recruitment efforts to keep up with the growing demand for cryptocurrency in Indonesia.
Since its inception, Pintu has experienced significant growth. Over 200,000 people use Pintu, with the token reaching an all-time high at $2.3726 on November 20,21.
Jeth Soetoyo, Pintu’s CEO and cofounder states:
It is important to educate users about cryptocurrency basics in Indonesia as it is still in its infant stages.
Coingecko data shows that cryptocurrency investments have increased in Indonesia over the past four years. Currently, 4% of Indonesians are investing in crypto.
The enthusiasm of Indonesian crypto investors could have been fueled by celebrity involvement. Shandy Iskandar and Jessica Iskandar have helped to make the celebrity crypto scene in Indonesia a success.
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