Fintech Ajaib CEO Proud of Bukalapak to Choose IPO in Indonesia

Bukalapak has established itself to be listed on the Indonesia Stock Exchange (IDX) by releasing its shares to the public through an initial public offering (IPO).

Bukalapak’s Chief Executive Officer, Rachmat Kaimuddin, said that Bukalapak’s IPO was a milestone for the technology industry and capital market in Indonesia.

“For the first time, a unicorn startup company will list its shares on the Indonesia Stock Exchange,” said Rachmat through his official statement.

This strategy was taken by Bukalapak with a commitment to create a technology-based economy that is fair for all Indonesian people.

Bukalapak’s move to choose an IPO in the country is also supported by fintech startup Ajaib by sending a love letter through a giant billboard that reads “Thank you Bukalapak for choosing IPO in Indonesia.”

Ajaib CEO, Anderson Sumarli, said he was very proud to see one of the unicorn startups in the country choose an IPO in the country.

“The move by Bukalapak to take the floor on the IDX will certainly have a positive impact on the IPO startup climate in Indonesia in the future,” Anderson said as quoted from a press release, Thursday (15/7/2021).

Anderson added, Ajaib is ready to welcome investors who are interested and want to own Bukalapak’s IPO shares.

Users to millennial novice investors can place orders for Bukalapak’s IPO shares (open) through the Ajaib application during the Offering Period on 28 – 30 July 2021.

Ajaib Expansion Strategy after Gaining IDR 1.3 Trillion Funding

Some time ago, Ajaib had just completed a Series A funding round of US$ 90 million or around IDR 1.3 trillion (exchange rate of IDR 14,500).

AJAIB CEO, Anderson Sumarli said, through the funding, he believes that technology in Indonesia and the Indonesian Capital Market can compete globally.

“Our technology is not inferior to Silicon Valley. So I am grateful to be given the trust of global investors, the trust of the capital market in Indonesia,” he said at CNBC Indonesia Fintech Week “The Future of Fintech: New Normal Era”, Monday (21/6/2021).

The amount obtained will be used for education and technology in line with Ajaib’s strategy. The education in question is to increase the literacy of young people.

“Technology is for customer experience so that novice investors can invest easily. We believe in education and technology, something special will happen. The interest of young people is very large, not only stocks but also mutual funds. Our focus is on using the money for education and technology,” he said.

He believes that in the next two years Indonesia can match Thailand in terms of the number of investors who enter the capital market. Currently, Indonesia is only 1%, while Thailand noted that 3% of its population is capital market literate.

“Believe that Indonesia will reach 3% in the next 2 years. Our neighbours can reach 3%, of course, Indonesia will have a bigger chance,” he said.

Stock and Mutual Fund Service Applications for All Levels of Society

Ajaib is a stock and mutual fund service application that can be accessed online by various levels of society. According to him, through Ajaib, registration and transactions can be done online.

“100% account opening through the application. Beginner investors who want to invest in shares are 100% online. Most of them can invest the next day,” he said.

What Ajaib has to offer, according to him, fits the situation during the pandemic. Minimizing meeting other people and being able to make transactions 100% online is one of Ajaib’s advantages. To that end, Ajaib does several things to further pamper its users.

“First, the implementation of electronics, advanced technology. To strictly check Know Your Customer (KYC) and maintain customer experience. Then cooperate with several parties, such as the Civil Registry, customer background checks. While maintaining the customer experience. We maintain KYC risk mitigation and anti-money laundering,” he concluded.