Indonesian unicorn Ajaib: Building a nation of new retail investors

Today’s McKinsey on Startups guest is Yada Piyajomkwan, cofounder and Chief Product Officer of Indonesian digital investing unicorn Ajaib. It was only a few years ago that Yada and her fellow Stanford MBA, Anderson Sumarli (now CEO), launched Ajaib with the goal of bringing investing to the masses in Indonesia, the world’s fourth-most populous country. Until recently, stock and mutual fund investing there were primarily reserved for a very small elite, roughly 1 to 2 percent of the entire population of some 280 million. It hasn’t taken long for Ajaib’s new approach to investing to take off. By focusing on financial literacy and investing education, Ajaib has quickly developed a growing following of more than one million investors who are drawn to its simple and affordable platform. The company has already raised more than $200 million in Series A and B rounds, and by some metrics is the fastest-growing unicorn in Southeast Asia.

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