Indonesia-based crypto asset management platform NOBI (PT Enkripsi Teknologi Handal) today announced a US$4 million (IDR57 billion) seed funding round led by AC Ventures with the participation of Appworks, Skystar Capital Cakra Ventures, Global Founders Capital, and a number of angel investors.
The fresh funding will be used to support product development, increase the penetration and use of Honest Token (HNST), and strengthen its team.
As a platform, NOBI aims to help investors in diversifying their assets to crypto and help busy investors to manage crypto assets in a simpler manner.
Secured IDR1T (US$69M) worth of crypto transaction
The startup was co-founded by Lawrence Samantha (CEO), Edy Senjaya (CTO), and Dionisius Evan Alam (CPO). The platform’s services include Staking, Savings, and Trading Strategy, enabling users to enjoy the results of their Bitcoin, Ethereum, and other leading crypto assets.
“This is an important milestone for us. AC Ventures and other investors present in-depth experience in fintech, investments, and crypto. This funding round reflects their trust and commitment in the difference that we can make in uniting the crypto and finance space,” said Samantha.
Since its launch in 2018, NOBI has managed more than IDR1 trillion (US$69 million) worth of crypto assets. The company claimed 15x growth together with the significant rise in user number in the last six months.
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“In line with the global trend, there is an increasing crypto-asset growth in Indonesia. The domestic trade volume has surpassed more than 10 times at more than US$60 billion in 2021 through more than 11 million user accounts. NOBI provides investors with services that allow users to gain interest. The NOBI platform is user-friendly and intuitive, helping users to ease their way into cryptocurrency,” said Founder & Managing Partner AC Ventures Michael Soerijadji.
Increasing demand for crypto assets
According to data provided by the Commodity Futures Trading Regulatory Agency (BAPPEBTI) as the extension of a regulatory body in Indonesia that handles crypto assets, the number of crypto investors in the country has grown two times faster compared to other instruments such as stocks in 2021, reaching the benchmark of 11.2 million. This is an interesting feat as the growth happens amidst the highly dynamic crypto price fluctuation.
In 2021, the transaction value of crypto assets in Indonesia reached US$61.4 billion or more than IDR859 trillion –a 122 per cent increase from the previous year.
The rapid adoption of crypto is in line with the rapid growth of wealth tech platforms in society. This indicates an increase in financial literacy and inclusion in Indonesia, where the public has begun to have a deeper awareness of the importance of investments.
Despite their limited numbers, a number of local platforms have been launched with the aim to help users to ease their way into crypto investment, including INDODAX, Tokocrypto, Pintu, and Pluang. This is interesting as other blockchain products have begun to gain traction and fans in Indonesia, including NFTs.
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The article was written by Randi Eka Yonida in Bahasa Indonesia for DailySocial.
Image Credit: NOBI
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