Bibit Raises $30 Million

Bibit, a robo-advisor app that wants to make investing more accessible in Indonesia, has raised $30 million from Sequoia Capital India. Returning investors East Ventures, EV Growth, AC Ventures and 500 Startups also participated. Like other robo-advisors, the aim of Bibit is to make it easier to create a portfolio tailored to each person’s risk profile and investment goals. Other investment apps in Indonesia tapping into growing demand for retail investment products include Bareksa and SoftBank Ventures-backed Ajaib. Bibit claims that over the past year, it has registered more than one million first-time investors.