Indonesian Exchange Pintu Raises $113 Million to Meet Country’s Crypto Boom
Indonesian cryptocurrency exchange Pintu has raised $113 million in a Series B funding round with investments from venture capital firms Intudo Ventures, Lightspeed Venture Partners, and Pantera Capital and investment advisory firm Northstar Group, according to a press release provided to CoinDesk. Lightspeed led Pintu’s $35 million Series A extension in August.
Pintu plans to use the capital to build out new features, including additionally supported tokens and blockchains and products. The exchange doubled the size of its team to 200 last year and plans to continue with its aggressive hiring plans to help address the booming crypto market in Indonesia.
“The numbers of crypto investors in Indonesia have doubled from 6 million in the beginning of 2021 to over 12 million in February 2022 – which is about [twice] the number of public equity investors in the country,” Pintu Chief Marketing Officer Timothius Martin told CoinDesk in an email.
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