Japan’s SBI Holdings acquires 20% stake in Indonesia’s Ajaib for $270m

By Divya Shah

Japan’s SBI Holdings has expanded in Southeast Asia by acquiring a minority stake of approximately 20% in Ajaib, an Indonesian online investment platform, for $270 million.

Executed through an SBI subsidiary, the strategic transaction makes Ajaib an equity-method affiliate of the Japanese financial giant. The financing represents Indonesia’s largest tech funding round since 2022, pushing the company’s total capital raised past $500 million. This follows Ajaib’s 2021 Series B round of $153 million, which propelled the Jakarta-based startup to unicorn status.

Founded to widen access for retail traders, Ajaib operates a mobile-first application supporting equities, mutual funds, and cryptocurrencies. Beyond retail services, the platform caters to corporate clients by providing over-the-counter (OTC) stablecoin settlement solutions and tailored liquidity options.

The partnership aligns with SBI Holdings’ broader regional push into digital assets and tokenisation. Recent initiatives by the Japanese conglomerate include the June launch of JPYSC, Japan’s inaugural trust-type stablecoin issued alongside SBI Shinsei Trust Bank, and a July collaboration with Singapore’s DigiFT to unveil the world’s first publicly on-chain Japanese equity fund.