What happened
Jakarta-based fintech Ajaib has closed US$270 million in equity financing, a Series C led by Japan’s SBI Holdings.
The round was significantly oversubscribed and priced above Ajaib’s 2021 unicorn valuation, according to the company.
This marks the largest sum raised by an Indonesian tech company in over four years, bringing Ajaib’s total funding past US$500 million.
Why it matters
The deal signals renewed investor confidence in Indonesia’s tech sector, which had seen few mega-rounds in recent years.
A valuation above the 2021 unicorn mark suggests Ajaib has grown its business sufficiently to command a premium despite broader market headwinds.
SBI’s leadership of the round could open doors for further Japanese investment into Southeast Asian fintech.
Key facts
Ajaib raised US$270 million in a Series C led by SBI Holdings.
The round was oversubscribed and priced above Ajaib’s 2021 unicorn valuation.
Total funding now exceeds US$500 million, with prior backers including DST Global.
It is the largest funding round for an Indonesian tech company in over four years.
What to watch next
How Ajaib deploys the new capital to expand its retail investment platform and compete with regional rivals.
Whether other Indonesian startups can attract similar mega-rounds as investor appetite returns.
Potential follow-on investments from SBI or other Japanese firms into the region’s fintech ecosystem.