SBI Holdings USA, Inc. has acquired Ajaib, the Indonesian investment platform, for $270.0 million. The transaction brings the Jakarta-based fintech under the full ownership of the U.S. subsidiary of Japan’s SBI Holdings, marking a definitive exit for Ajaib’s early backers, including DST Global, Horizons Ventures, and Alpha JWC Ventures.
Founded in 2019, Ajaib operates a mobile-first investment platform offering stock trading, mutual funds, and coins. It has positioned itself as Indonesia’s first fully online stock brokerage, with no offline branches or brokers, and reports a customer base exceeding three million users. The company’s name, meaning “magic” in Indonesian, reflects its goal of simplifying access to financial markets for millennials through low fees and a user-friendly interface. SBI Holdings USA, Inc., a financial services group with a broad portfolio in securities and asset management, will now control Ajaib’s operations and technology.
The acquisition is a strategic move for SBI Holdings USA, Inc. to expand its footprint in Southeast Asia’s retail investment market. Indonesia’s growing digital economy and young population present a significant opportunity for low-cost trading services, an area where Ajaib has already established a strong brand. For Ajaib, the deal provides access to SBI’s extensive capital base and institutional expertise, which could accelerate product development and regulatory navigation in a competitive landscape.
The purchase price of $270.0 million reflects a premium on Ajaib’s last private valuation, though the company’s revenue and profitability figures were not disclosed. The transaction is expected to close within the next quarter, subject to standard regulatory approvals. Ajaib’s existing management team is anticipated to remain in place to ensure continuity for its users and partners.
With SBI Holdings USA, Inc. as the new parent, the combined entity is likely to pursue deeper integration of trading infrastructure and cross-border investment products. The focus will be on scaling Ajaib’s user base while maintaining its low-cost model, potentially extending its services to other markets in the region. The deal underscores a broader trend of established financial groups acquiring local fintech champions to gain immediate market share rather than building from scratch.