SBI Holdings, one of Japan’s largest financial conglomerates, is investing $270 million for a 20% stake in Ajaib, Indonesia’s first fully online stock brokerage. The deal values the Indonesian platform at approximately $1.35 billion, representing roughly a 35% increase from its last known valuation of about $1 billion following a $153 million Series B round in October 2021. Founded around 2018-2019 by Anderson Sumarli, Ajaib now has over 3 million users trading stocks, mutual funds, bonds, US equities, and crypto assets through its app-based platform. This $270 million injection represents the single largest investment the company has ever received, more than doubling its previous largest raise, and brings its total funding to approximately $515 million.
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