Investment app Pluang raises $55M led by Accel

Pluang, a Jakarta-based investment platform, has secured $55 million in a round headed by Accel. This is a follow-on to its Series B funding round, bringing the total raised to $110 million.

Pluang will use the funds to expand into more Southeast Asian nations, expand its asset classes, and hire more people.

Pluang’s most recent funding round, a $3 million Series A, occurred in 2019.

Trung Nguyen, Andy Ho, Aleksander Leonard Larsen, Jeffrey Zirlin, Alexa von Tobel, Pismo CTO Daniela Binatti, Monzo COO Sujata Bhatia, Public.com co-CEOs Jannick Malling and Leif Abraham, FalconX CEO Raghu Yarlagadda, Flink CEO Sergio Jimenez, The Chainsmokers, and BRI Ventures are among the other participants in the latest round. Square Peg, Go-Ventures, and Openspace Ventures, all existing investors, also contributed.

Pluang began with gold in 2019 and has since expanded its variety of asset classes to allow clients to diversify their assets and reduce risk. Gold, indices, mutual funds, and crypto assets can all be purchased for as little as IDR 10,000 (less than $1 USD). Users will be able to invest in fractional U.S. stocks with the app’s new features.