- Indonesian-based cryptocurrency exchange Pintu has raised $113 million in its Series B
- The round saw participation from Pantera, Lightspeed, and several other prominent crypto investors
- According to Pintu CEO Jeth Soetoyo, the newly acquired capital will be used to expand the exchange’s product offering and its presence in the country
Pintu plans to expand its regional presence and offer DeFi and NFTs
The Pintu cryptocurrency exchange has raised $113 million in a Series B funding round that saw participation from Pantera Capital, Lightspeed India Partners, Intudo Ventures and Northstar Group.
According to The Block, which cited Pintu CEO Jeth Soetoyo, the company’s Series B had a lead investor who preferred to remain anonymous.
With more than $110 million raised in the latest financing round, Pintu has now collected $151.8 million in total investments, according to Crunchbase. The exchange collected roughly $41 million in the new capital in 2021 – $6 million during its Series A and an additional $35 million as a part of the Series A+.
Soetoyo told The Block that the newly acquired funds will go towards new products and services, including in the DeFi and NFT space. The Indonesian-based exchange reportedly plans to further bolster its presence in the country as well.
Per Triple-A, Indonesia is home to the seventh largest population of cryptocurrency owners in the world. The blockchain analytics firm estimates that roughly 7.3 million people or 2.66% of the total population own some kind of digital assets.
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.