Investment platform Pluang has secured approximately US$10 million in new capital.

The Series C round was led by MUFG Innovation Partners, with existing investors including Square Peg and Accel also participating, according to Tech in Asia.

The company achieved EBITDA profitability last year and does not have an immediate operational need for the capital.

Co-founder and CEO Claudia Kolonas stated that the fresh funds will be kept in reserve for potential acquisitions or future overseas expansion, though the firm is not actively pursuing either.

She added that the strategic partnership with MUFG could drive future collaborations and strengthen customer trust.

“We were already profitable last year, so actually we didn’t really need fundraising,”

Kolonas told Tech in Asia.

Surging demand for local equities

Pluang launched trading for Indonesia Stock Exchange listed equities at the end of April, expanding beyond its existing offerings of gold, US stocks, and cryptocurrency.

The platform received more than 50,000 account applications within a week of the launch.

This sudden influx strained the company’s customer verification operations, prompting a temporary pause on marketing campaigns for the new service.

“Demand was extremely high and far beyond our expectations, frankly, we were slightly overwhelmed,”

Kolonas said.

The company is now automating its onboarding processes, which is expected to take two to three weeks to complete.

Historically, gold transaction fees have driven the majority of Pluang’s revenue.

However, Kolonas expects Indonesian stocks to become a major revenue contributor due to the platform’s existing user base of more than 13 million registered accounts.

Sustainable growth and regional plans

Pluang reported group revenue of US$30 million last year, reflecting year-on-year growth of more than 100 percent.

The company has maintained a workforce of approximately 200 employees since reducing its headcount by 10% in 2023.

Pluang is resisting the urge to aggressively expand its team to handle the recent surge in trading volume, opting instead for a conservative approach to maintain profitability.

The wealthtech firm made its first move outside Indonesia in June 2025.

It entered the Philippines through a Securities and Exchange Commission (SEC) sandbox programme, which allows users to invest in US stocks using Philippine pesos.

Pluang targets an official launch in the Philippines next year if the sandbox testing proves successful.

The company’s domestic focus aligns with ongoing capital market reforms by Indonesia’s Financial Services Authority (OJK).

These regulatory adjustments aim to strengthen liquidity and improve global transparency, which Kolonas believes will further encourage Indonesian retail investors to prefer local equities.

Featured image credit: Edited by Fintech News Indonesia, based on image by lifeforstock via Magnific