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November 26, 2021

Indonesian wealth tech firm Bareksa secures investment from Grab

By Verdict Staff

Indonesia-bases digital investment and wealth tech firm Bareksa has secured an undisclosed investment from ride-hailing giant Grab as part of its Series C financing round.

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  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
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The strategic partnership will allow OVO-backed Bareksa to extend its investment offering to Grab’s network of users, partners.

Ovo, which invested in the firm in 2019 as part of its Series B funding round, will be handling payments related to the new partnership.

Bareksa was founded in 2013 as an online mutual fund marketplace. It was later authorised by the Indonesian finance ministry to sell Indonesian government bonds online.

The partnership with Grab is expected to enable Bareksa further integrate into OVO’s ecosystem.

The integration is expected to propel the development of retail investment and wealth management space in Indonesia.

Bareksa co-founder and CEO Karaniya Dharmasaputra said: “By synergising with Grab and OVO, Bareksa will be able to provide wider access, educate the benefits of investment and provide a seamless e-investment experience to millions of driver-partners, kiosk owners and MSMEs, as well as Grab and OVO users.”

Ovo CEO Jaygan Fu Ponnudurai added: “Ovo’s partnership with Bareksa has shown that collaboration between digital payment and wealth tech platforms can positively drive capital market expansion.

“Now, with the presence of Grab driving new synergies, we are confident that Grab-Bareksa-Ovo can accelerate the delivery of investment products to drive financial inclusivity in the country.”

In October this year, Grab increased its stake in OVO from 39% to 90% after buying shares from Tokopedia and Lippo Group.

The ride-hailing firm entered into the wealth management space last year, with the purchase of Singaporean robo-advisory firm Bento Invest.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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