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Crypto marketplace Pintu raises $35 million in latest funding round
The app for trading cryptoassets like Bitcoin and Ethereum plans to use the investment to add more assets as it aims to attract more users in Indonesia, where the number of crypto investors has been growing fast.
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The Pintu app allows users to start investing in cryptoassets with as little as Rp 11,000 (75 US cents), trade, analyze and manage assets. The company behind the app pocketed US$35 million in series A+ funding on Aug. 10, 2021. (Courtesy of Pintu/-)
T
he company behind cryptoasset marketplace Pintu announced on Tuesday that it collected US$35 million in series A+ funds. It intends to use the funds to include more assets on its trading platform and develop new features.
Pintu currently offers trades on 16 cryptocurrencies, including the popular Bitcoin and Ethereum. The start-up plans to add more assets that are in high demand among investors, including non-fungible tokens (NFTs).
“We built Pintu with the belief that crypto is more than just a piece of technology; it is also an asset class and community that will provide the means for Indonesians to overcome the barriers to financial inclusion,” said PT Pintu Kemana Saja cofounder and CEO Jeth Soetoyo in a press release.
He went on to explain that the company was in the process of rolling out new features, including e-wallet integration for easy deposit and withdrawal of funds.
The company was also developing Pintu Earn, a cryptoasset interest account that enables users to automatically earn interest on a variety of crypto assets.
“With this round of financing, Pintu plans to aggressively hire new talent across all major functions, strengthen Pintu’s market leadership […] through strategic partnerships, launch mass market education campaigns,” Jeth added.
Newbies can learn about cryptocurrencies through Pintu’s educational platform called Pintu Academy, which includes articles and videos designed to assist fledgling crypto investors learn and understand cryptocurrency fundamentals.
