Ajaib: How does it work

ajaib 65m series ribbit 90mshutechcrunch

Ajaib is a stock trading and investment app, one of Indonesia’s most successful FinTech startups. Founded in 2019, it has attracted many users and investors, allowing it to successfully raise $65M Series A extension led by Ribbit Capital and increase the round’s total to $90M.

In this article, we will look into how Ajaib works, why it is so successful, and explore some of its features.

Overview of Ajaib

Ajaib, formerly known as Jakarta-headquartered Jojonomic, is an Indonesian fintech company providing stock trading and investment services. It was founded in 2019 by CEO Rama Pijarisco and CTO Herry Budi Puasa. Ajaib, a portmanteau of “aja” and “hibur”, meaning ‘enliven’ or ‘refresh’ in Indonesian, operates as a mobile-only platform which aims to simplify retail investing with digital trusts and access to stocks from global markets.

As of April 2021, Ajaib said it had registered 893,000 users with more than $550 million in transaction volume since launch. According to the company statement on TechCrunch, Ajaib offers products for equity investments which includes stocks (Amerika & Asia) access through its fractional ownership feature; foreign exchange investments; mutual funds; variable loans through peer-to-peer lending platform Koinworks; variable annuities & life insurance products that are co-managed by AXA Mandiri and MetLife Indonesia; deposits & loans services through its partnered banks such as Standard Chartered Bank & Bank OCBC NISP; fixed deposits shares managed by PT Trimegah Sekuritas Indonesia Tbk.; cash management tools powered by Jenius and MNC Digital Solution LLC; Roboadvisor services that provides customers with automated portfolio construction & optimization assistance via the Wealthfront investment app.

The company is backed by Japanese food conglomerate Mitsubishi Corporation, East Ventures Management Company (Northstar), Insignia VC Partners Fund I LP (Insignia Venture Partners), MNC Asset Management Group (MAMG) amongst others. In March 2021, Ajaib secured an additional $65 million series A extension led by Ribbit Capital bringing the round’s total funding to $90 million.

Ajaib, An Indonesian Stock Trading And Investment App, Raises $65M Series A Extension Led By Ribbit Capital, Increasing The Round’s Total To $90M (Catherine Shu/TechCrunch)

The Indonesian investment and stock trading application, Ajaib, recently announced its Series A funding extension of $65 million led by Ribbit Capital. This brings the total sum of the round to $90 million. The new funding will be used to expand Ajaib’s business operations in Indonesia and also abroad to new markets such as Singapore.

Ajaib is a mobile-first digital wealth management platform that has a user-friendly interface designed for investors in Southeast Asia who lack access to conventional financial services like savings accounts and secure retirement investments. It allows users to find, compare, and invest in mutual funds approved by the Indonesian Financial Services Authority (OJK). Ajaib also provides various features such as education content, portfolio tracking tools, automated portfolios with AI technology and access to global markets like NYSE and Nasdaq.

This latest funding round follows previous financing rounds from investors such as Alpha JWC Ventures, Lightspeed Venture Partners India, Softbank Ventures Asia (SVAsia), Mistletoe Inc., Line Ventures Corp., Malaysia’s K3 Global Berhad and DStv Digital Media (multiChoice Group’s business-to-business arm). These investments bring Ajaib’s total raise up over USD 100 million in financing to date—the largest ever among Indonesian startups at the time of announcement.

How Ajaib Works

Ajaib is an Indonesian stock trading and investment app that makes buying and selling stocks easy with just a few taps on your mobile device. In addition, it allows users to monitor their investments and keep up with stock market trends.

In this section, we will explore in detail how Ajaib works and what features it offers to users.

Investment tools

Ajaib provides access to a wide range of investments to provide its users with the best experience. Investors can select from global equities, mutual funds, fixed income products, and derivatives to grow their wealth.

The app also offers various tools for investors such as portfolio building and analytics tools, financial education information and mobile-friendly investment portals. It allows users to track stock prices in real time, manage portfolios by setting alerts on stocks or markets across asset classes, and determine which investments are right for them.

Moreover, Ajaib’s AI is integral in providing privileged insights. It tracks the data of millions of user profiles, stocks and companies while helping users analyze their portfolio trends and make informed decisions. In addition, the platform has thousands of financial experts around the globe who advise online webinars or one-on-one sessions via video calling if needed.

It also allows investors to avail exclusive marketing discounts on brokerage fees on these transactions through its largest partner firms like Phillip Securities Indonesia , Mandiri Sekar Buana securities (MSB) , etc.

Trading tools

Ajaib provides various tools to help you manage your investments easily and efficiently. For example, you can use their interactive dashboard to view real-time market data from Indonesia’s exchange (BI). Through this platform, you can monitor your portfolio performance efficiently. Additionally, you can set up advanced technical analysis filters, create custom watchlists and set price alerts for stocks you’re interested in. Furthermore, investors will find useful new information around quarterly statistics from listed companies.

The app also offers various trading tools designed to help investors identify suitable opportunities in Indonesian markets:

  1. They have a stock screener that allows investors to filter through hundreds of stocks based on criteria such as sector/industry, market capitalization or other metrics like P/E ratio or dividend yield.
  2. The built-in Smart Basket module provides users with readymade baskets created around certain investment strategies like growth companies or aggressive momentum plays.
  3. Potential investors can also utilize the ‘JASDEC Graphs’ which apply the Japanese stock chart analysis technique called Shibori and candlestick charting methods used in India and Indonesia.

Portfolio management

With Ajaib, users can easily manage their portfolio through various services. The app enables users to buy and sell shares quickly, view consolidated portfolios and real-time prices, use advanced charting tools to analyze market trends, get customized recommendations and receive alerts when preset conditions are met. It also provides risk management features such as portfolio exposure limit management and stop-loss functionality.

Ajaib’s investment options include mutual funds (Regular & Systematic Investment Plans) and stocks, bonds and ETFs through various partner platforms. The app is integrated with partner brokerages such as Bursa Malaysia, Indonesia Stock Exchange (IDX), HLGutama Shares Berhad (HLGB) and CIMB Securities. The app also supports the Indonesian rupiah currency enabling users to trade in local stocks with no currency conversions required – making trading easier for investors across the region.

Ajaib enables thousands of investors in Indonesia to trade stocks from anywhere anytime by making sophisticated investing activities simple and mobile centric. So if you want an easy way to manage your investment portfolio on the go – Ajaib is worth considering!

Benefits of Ajaib

Ajaib, an Indonesian stock trading and investment app, is popular among investors and traders. The app provides users access to various public and private markets, including stocks, bonds, investment trusts, and mutual funds. It also provides its users with personalized financial advice and research-based insights.

Let’s explore what Ajaib offers and the benefits of using it.

Low fees

The Ajaib app is a revolutionary Indonesian stock trading and investment platform that lets users build portfolios without excessive fees. By providing users access to a wide range of markets and products, the app allows them to invest from the convenience of their phone or computer.

Ajaib has been designed to be user-friendly and provide the secure investing experience investors expect. As part of its low fee structure, Ajaib does not charge commissions for stock trades, instead taking a minimal percentage from profits on successful investments. This minimal commission and zero account maintenance fees allow investors to keep more money in their pocket when trading through the platform.

ajaib indonesian 65m series capital 90mshutechcrunch

Ajaib also provides investors with personalized investing advice from professional advisors which can help users make informed decisions about how to best build their portfolios. Furthermore, all transactions processed through Ajaib are insured up to $5 million, providing an extra layer of security while investing.

With these features and more–including access to over 1 million products across equity and fixed income funds—Ajaib offers everyone low-cost investing options.

Easy to use

Ajaib is an Indonesian stock trading and investment app that has become increasingly popular with investors looking to diversify their portfolios. The app, developed by a venture-backed team of investors and finance professionals, is easy to use and has gained traction among experienced traders and those new to stock trading. It simplifies the trading process by providing step-by-step guidance and advice on how to get started, making it simple for first time traders who may be unfamiliar with the complicated processes sometimes involved with investing.

Ajaib users can invest in stocks, options and ETFs without going through lengthy onboarding processes. Through its mobile application, Ajaib makes it easy for users to access a trading account, monitor their portfolio and habitually track investments at a glance. Investors can view real-time market data updates anytime they choose; check up on their portfolio values; read market news updates; and receive frequent notifications on opportunities they may not have noticed otherwise.

Additionally, Ajaib offers its customers competitive brokerage fees while maintaining the platform’s stability at all times, allowing them to make monetary transfers under current securities laws. Furthermore, Ajaib enables beginner investors to participate in courses ranging from informational videos introducing different topics such as risk management strategies and technical analysis principles; quizzes that focus on evaluating personal financial knowledge; features discussion sessions focused specifically on individual learning needs or interests; as well as other interactive activities like personal goal setting for meaningful investment outcomes. Ultimately offering peace of mind when investing via a secure platform operated by experts in financial services industries.

Access to global markets

Ajaib, the innovative Indonesian stock trading and investment application, provides users access to a wide range of global markets without needing to open an account with a traditional broker. Instead, Ajaib’s technology lets you invest or trade domestic and international stocks on exchanges worldwide directly from your smartphone or desktop computer.

Ajaib offers a variety of products and services, including stock portfolio tracker that can be used to monitor portfolio performance across multiple asset classes; research center that has comprehensive analysis on global markets; and simulated trading account for users to test strategies before risking money in their actual portfolio. With low commissions, access to comprehensive financial resources and educational materials on investing, Ajaib makes it easier than ever for Indonesian traders to join the fast-paced world of international financial investing.

Overall, Ajaib provides traders convenient access to global markets at competitive prices — enabling them to make smarter investment choices based on more informed data.


Ajaib is a stock trading and investment app that operates in Indonesia. As a financial service provider, security is of paramount importance. To guarantee its users peace of mind, Ajaib has implemented a rigorous security protocol, ensuring that its users’ data and financial information is stored securely and protected from cyber threats.

Let’s dive into the details and examine the security measures that Ajaib has implemented.

Multi-factor authentication

Ajaib strives to provide customers with a secure and user-friendly experience when trading and investing, so they have implemented multi-factor authentication procedures to ensure customer data remains protected.

When logging in, customers will be requested to type in their username or email address and password. Still, they are also asked to authorize through one of three available methods: verification codes, biometrics, or a third party application.

ajaib indonesian 65m ribbit capital 90mshutechcrunch

Verification codes can be received via SMS or email, while biometrics allow users to log in using all forms of biometric data such as fingerprints and facial recognition. In addition, third-party applications such as Google Authenticator and Authy provide customers an additional layer of security by authorizing access after inputting unique code associated with the user’s account.

By requiring all three factors–username/email address, password and authorization–to log in successfully, Ajaib helps protect its users’ accounts from unauthorized access while remaining secure.

Advanced encryption

Ajaib is committed to protecting investor data and constantly develops security measures to protect customer digital asset investments from malicious activities. Advanced encryption algorithms are employed to guard digital data and assets. Encryption refers to transforming readable data into a complex, unreadable form that can only be decrypted when the right key is applied.

Ajaib has implemented this technology at several levels, including cloud storage and user access. During storage, information is fully encrypted on disk, during transport it is always over secure channels such as TLS 1.2 with AES-256-GCM keys, and in memory it remains encrypted with per-user unique encryption keys stored in a separate secure remote server.

Ajaib also utilizes technologies like virtualization containers, restricted access policies implemented based on identity management systems, dynamic firewalls that prevent unauthorized access, and strict customer authentication mechanisms including multifactor authentication (MFA). In addition, all network traffic where sensitive customer information like passwords are exchanged are only ever exchanged over HTTPS/SSL for an extra layer of protection.

Account monitoring

Ajaib is dedicated to providing high security to its customers, and account monitoring is important in the process. Account monitoring sorts through customer accounts to detect suspicious activities quickly and accurately. The app will look for patterns of behavior that are inconsistent with normal use, such as large transfers without explanation or abnormal frequency of transfers. It also checks for signs that someone might be trying to use a customer’s account fraudulently, such as multiple attempts to log into the account from different IP addresses or using incorrect passwords.

Ajaib’s account monitoring can be tailored for each customer’s needs, ensuring that customers can feel confident about their accounts’ and information’s safety. The system also helps ensure customers comply with the Bank Indonesia (BI) regulations. BI requires financial institutions to periodically assess transaction activity under the Know Your Customer (KYC) rules and verify customers’ identities through periodic reviews.

Ajaib takes active measures to protect its users, ensuring all data is encrypted and secure within its servers. In addition, all information related to a customer’s account is also safeguarded by cutting-edge firewalls and intrusion detection systems developed by Ajaib’s cybersecurity team.

Future of Ajaib

Ajaib has gone from strength to strength with its latest $65M Series A Extension led by Ribbit Capital increasing their total round to$90M. This news brings about a lot of speculation about the future of Ajaib and the possibilities of the app.

Whether or not Ajaib will be successful in its goals and aims, let’s dive into the details of the app and its future.

Expansion plans

As part of its new funding, Ajaib plans to accelerate the building of its platform, which aggregates stock trading and investing services in one easy-to-use mobile experience.

Some areas that Ajaib plans to focus on for growth include expanding its reach into other markets in Asia and beyond, adding new products such as mutual funds, derivatives, and primary offerings, and introducing new services to deepen customer engagement. Additionally, the company intends to build on its already strong network of partner banks and financial institutions across Southeast Asia.

ajaib indonesian series ribbit capital 90mshutechcrunch

The startup also plans to use its funds for research and development initiatives. With a data-driven approach, the company will leverage technology for product innovation such as Artificial Intelligence (AI) for automated investment advice; utilizing advanced analytics for insights that can personalize customer experience; enhancing account security; and further improving user experience at scale.

In addition to Ajaib’s expansion plans, it has added two more executives — Tang Chui Siang as VP operations & logistics and Raditya Sandiartana as VP product — towards strengthening their senior leadership team even more.

Additional features

Ajaib, the Indonesian stock trading and investment app, has rapidly grown since its launch in 2018. This growth has been accelerated by its recent Series A extension, led by Ribbit Capital, which increased the round’s total to $90 million. Ajaib plans to use these funds to introduce additional features, such as ordering trade points and investments using OTP (one-time password) codes.

Ajaib also plans to add new third-party financial services, giving users a wider range of options for managing their investments. This will include partnerships with other regional providers such as robo-advisors and banks. Additionally, expansion into new markets outside Indonesia will likely be part of their roadmap shortly.

The company is further looking into launching a corporate user segment that would allow businesses to better manage liquidity within their investments portfolio and their payrolls electronically. As such, it could be easier for companies to keep track of their employees’ income and expenses.

Lastly, Ajaib also wants to expand its services by making them available through an API that enables customers to access personalized services such as wealth management or tailored trade recommendations based on predefined settings within moments of access. Such initiatives have become much more needed now that online investing can often seem overwhelming or limited given the vast array of investment choices available – especially when even basic information about stock movements can be found at social media sites or smartphone applications like Twitter or Instagram. With Ajaib integrating more customized data visualization tools and offering automated processes, investing should become simpler for retail and institutional investors alike looking for real-time updates on market conditions in one place.

Continued growth

The successful Series A Extension of Ajaib, an Indonesian stock trading and investment app, has allowed the company to accelerate its growth on a global level. This new funding will enable Ajaib to expand its operations further into Indonesia and beyond. It also allows Ajaib to advance its technology offering by building innovative products and services in financial technology.

The platform was created to provide users with an alternative financial solution that makes it easier to manage investments and other money-related activities online. It combines simple design with efficient execution, offering comprehensive digital investing solutions. Potential investors can access various products, including stocks, ETFs, commodities, mutual funds, bonds, and options. Additionally, users can leverage sophisticated asset allocation services and diversification models built on data-driven algorithms.

With more than 1 million users actively engaging with the platform each month, Ajaib is entering a new stage of its development that will revolutionize how investors interact with markets across Indonesia and worldwide. The additional funding will help ensure continued growth for the company’s products and services as it leads innovation in the fintech sector throughout Southeast Asia.

Leave a Reply

Your email address will not be published. Required fields are marked *