Ajaib

Fintech · Online Brokerage · Southeast Asia

Funding

Ajaib raises $270M Series C led by Japan's SBI Holdings

The deal doubles as a distribution play, giving a yen stablecoin its first foothold with Indonesian retail investors.

• Ajaib, a Jakarta-based online brokerage, raised $270 million in a Series C round led by Japan's SBI Holdings, which took a roughly 20% stake and made Ajaib an equity-method affiliate.
• Founded by Stanford MBA classmates Anderson Sumarli and Yada Piyajomkwan, Ajaib built a Robinhood-style app to fix Indonesia's investing gap, where fewer than 1% of the population owned equities.
• The check implies a valuation around $1.35 billion, up from roughly $1 billion after Ajaib's 2021 Series B, and gives SBI's yen stablecoin JPYSC its first consumer on-ramp outside Japan.
• The round is Indonesia's largest tech raise since 2022 and equal to roughly 76% of the $355.7 million total raised across the country's entire startup ecosystem in 2025.
• Indonesian startup funding has collapsed from a $9.44 billion peak in 2021 to about $340 million last year, battered by scandals at agritech names eFishery and TaniHub.
• Ajaib plans to use the capital to expand hiring in data science, engineering, and product development across its roughly 600-person workforce.
• The deal signals that global financial institutions still see Southeast Asian retail-investing platforms as strategic footholds even as venture funding for the region keeps drying up.