May 3

Bibit Raises Another Growth Round Led by Sequoia Capital India, This Time for $65 Million

By Catherine Shu

Four months after leading a $30 million growth round in Bibit, Sequoia Capital India has doubled down on its investment in the Indonesian robo-advisor app. Bibit announced today that the firm led a new $65 million growth round that also included participation from Prosus Ventures, Tencent, Harvard Management Company and returning investors AC Ventures and East Ventures.

This brings Bibit’s total funding to $110 million, including a Series A announced in May 2019. Its latest round will be used on developing and launching new products, hiring and increasing Bibit’s financial education services.

Photo courtesy of lau rey.

Source: TechCrunch (link opens in a new window)

impact investing