Indonesian Wealthtech Firm Banks $4.5M In Pre-Series A Round
11/10/21, 1:36 AM
Money raised
$4.5 million
Industry
financial services
other
mobile
software
Round Type
pre-series a
Indonesian wealthtech startup Moduit has secured US$4.5 million in pre-series A money in a round led by Singapore’s Reciprocus Moduit Holding (RMH).
Company Info
Additional Info
The startup is planning to follow this up with a series A round by the end of next year. The company will use the new capital to offer more curated wealth management products besides mutual funds and bonds. So far this year, the company said it grew its assets under advisory (AUA) by more than 40%, with the average ticket size for its business-to-customer clients reaching US$4,600 per client. Moduit also claims it saw a 74% increase in the number of its advisory partners, who now handle portfolios of US$60,000 per client on average.