Indonesian Crypto Exchange Pintu Raises $113 Million

Pintu, an Indonesian cryptocurrency exchange, has raised $113 million in a Series B round of funding. Pantera Capital, Lightspeed India Partners, Intudo Ventures, and Northstar Group are the investors in the round. Pintu’s creator and CEO, Jeth Soetoyo, told in an interview that there was a lead investor in this round, but he declined to name it since the investor wishes to stay anonymous. However, he stated that the investor is a multinational venture capital business. “Pintu’s rise comes when crypto trading volumes are falling, and exchanges are slashing jobs, given the current bearish market sentiment.” Indonesian crypto trading app Pintu scores $113M Series B https://t.co/RsqCgreWsn by @catherineshu — TechCrunch (@TechCrunch) June 7, 2022 Pintu said it would utilize the freshly obtained capital to enhance its product offerings and Pintu Academy’s educational arm. The Pintu app includes an exchange, crypto wallet, and staking platform with its coin and has gone from zero to four million downloads in just two years, according to Eddy Chan, Founding Partner at Intudo. Indonesia’s Crypto Sector Sees Extraordinary Growth Intudo is a venture capital firm focused on the Indonesian market. Chan is confident in Pintu and Indonesia’s crypto-economy despite the worldwide market collapse, owing to what he calls a “very, very long-term outlook.” In a statement, Soetoyo stated, “Indonesia’s crypto sector has seen extraordinary growth ov...