Indonesian fintech startup Pluang has raised US$3 million in a series A round led by Go-Ventures, the investment arm of Indonesian tech giant Gojek. Formerly known as EmasDigi, the company provides its users with digital microsavings services and access to curated financial products. Its gold savings platform allows its users to invest in gold starting from 0.01 grams or roughly US$0.50.
Pluang – which means opportunity in Indonesian – said it plans to use the fresh funds to launch other financial services, such as US dollar savings and fixed return products. It also looks to further improve its existing offerings and expand distribution.
Among the 167 fintech startups in the country, 38% are in the payment sector and 31% are in lending, according to a statement from the company. Pluang has built itself up to tackle the difficulties of improving savings in Indonesia.
“In terms of investment solutions, Indonesians are underserved, and there is a lack of access to financial products that have people’s interest at heart,” said the firm’s founder Claudia Kolonas. “We want to help Indonesian consumers see that better possibilities exist for growing their savings.”
Prior to leading the funding round for Pluang, Go-Ventures most recently invested US$5 million in Indian cloud kitchen startup Rebel Foods. It has also co-led a US$35.5 million round for Indian mobile gaming company Mobile Premier League in April. Late last year, it invested in digital media startup Kumparan as Gojek expanded into online content.
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