Pluang Receives Over US$3M in Funding Led by Go-Ventures
Pluang is an Indonesia-based fintech with the goal of democratizing access to financial products.
10 Sep, 2019, 22:30 ET
JAKARTA, Indonesia, Sept. 10, 2019 /PRNewswire/ -- Pluang (https://Pluang.com), a fintech startup providing digital micro-savings for Indonesians (formerly known as EmasDigi), officially announced today its US$3 million Series A funding led by Go-Ventures. Pluang has recently launched one product, a gold savings product. With this fresh capital, Pluang plans to launch other products, including US dollar savings and fixed return products.
Amongst 167 fintech startups in Indonesia, 38% exist in the payment sector and 31% in lending. Pluang is one of the few fintech companies trying to solve the difficult problem of improving savings in Indonesia, in efforts to tackle the financial inclusion problem in Indonesia.
Pluang provides users with the convenience of saving with the most competitive and transparent pricing. At present, Pluang's gold product allows investments starting from 0.01 grams (equivalent to roughly USD$0.50). Pluang provides users real-time liquidity and peace of mind as the gold is kept in a government-backed institution through the official Indonesian commodities exchange.
Pluang's ultimate mission is to democratize financial products for Indonesians. The company will use the fresh capital to further this mission by improving its product and expanding distribution.
Aditya Kumar, Go-Ventures VP of Investments, asserts, "Indonesia is the fourth most populous country in the world, and over 50% of that population does not have access to bank accounts. Even fewer have access to formal investment and savings channels.
"We are strong believers in Pluang's mission to democratize access to financial services in Indonesia. We are impressed by the team's unique ability to create innovative, and fully compliant micro-savings products for all Indonesians and are excited to be part of Claudia and her team's journey."
Claudia Kolonas, Founder of Pluang, explains, "In terms of investment solutions, Indonesians are underserved, and there is a lack of access to financial products that have people's interest at heart. We want to help Indonesian consumers see that better possibilities exist for growing their savings."
"Whether coming from privilege or from the base of the pyramid, everyone deserves access to a better financial product that can ensure a brighter future."
With the goal of democratizing financial products, Pluang allows users to safely access curated financial products without having to worry about hidden or exorbitant fees in just 3 taps.
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