NOBI, the leading and experienced asset management platform for the crypto asset, today announced a US$4 million in an oversubscribed Seed Funding round led by AC Ventures, with participation from Appworks, Skystar Capital, Cakra Ventures, Global Founders Capital (GFC), and angel investors. The funding will be used to further enhance their product, grow Honest Token (HNST) utility and expand the team.
As a financial services company for crypto market investors, NOBI brings a mission to help casual investors earn on their crypto assets by providing services, such as Staking, Savings, and Trading Strategy. NOBI allows clients to enjoy attractive yields while owning Bitcoin, Ethereum, and other top crypto assets. NOBI focuses on helping casual investors who want to diversify their wealth into crypto and non-traders who do not have the time to manage their assets actively, with no hidden fees and complexity.
“NOBI to the moon! This is a huge step for us. AC Ventures and the rest of our investors bring deep unrivaled experience in fintech, investment & crypto. This round of investment shows their trust & commitment to what we can do to make a difference as the crypto & financial space starts to merge,” said Lawrence Samantha, Co-Founder & CEO, NOBI.
With a total population of 274 million people, Indonesia accounts for more than 45% of the total population in South-East Asia. The country is estimated to have 66% of the underbanked/unbanked population, providing room for digital focus financial services. Due to the large market size, Indonesia has been established as a crucial market for crypto asset development.
According to the Commodity Futures Trading Supervisory Board (BAPPEPTI) data, the number of crypto investors grew 2x faster than stocks investors in 2021 to reach 11.2 million people despite the fluctuation in crypto price – thereby marking the beginning of the golden era in the crypto business. In addition, the value of crypto-asset trading transactions in Indonesia throughout 2021 has reached US$ 61.4 billion (IDR 859.4 trillion), whereby compared to 2020, there was an increase in transaction value by 1,222%. Based on these statistics alone, it is evident that crypto assets have become one of Indonesia’s most sought-after investment categories.
“In line with the global trend, demand for crypto assets in Indonesia is rapidly growing. Domestic trading volume has increased over 10x to exceed $60 billion in 2021 through over 11 million user accounts. NOBI provides investors with a range of services from trading, fund investment as well as staking, which allows your coins to earn interest. NOBI’s user-friendly and intuitive platform makes it easy to start investing in cryptocurrency,” said Michael Soerijadji, Founder & Managing Partner, AC Ventures.
The team is led by Co-founders Lawrence Samantha (CEO), Edy Senjaya (CTO), and Dionisius Evan Alam (CPO). NOBI’s founders combined their entrepreneurial and operational expertise.
As a CEO, Lawrence is very knowledgeable and passionate about the cryptocurrency space. He started Bitcoin mining in 2011 after he graduated from The Ohio State University before becoming a Co-Founder of a one-stop ticketing management platform, Loket. Edy who has more than 20 years of experience in multinational companies truly believes in the web3 ecosystem. His love for cryptocurrency can be traced back to 2017 when he started operating a crypto mining operation, ran Bitharga – a crypto price monitoring tool and built various blockchain-based solutions using smart contracts. Meanwhile, Dionisius, who also graduated from The Ohio State University, co-founded and advised various startups, from branding consultant, software agency, to digital saving and loan cooperative startup. He has 5+ years of futures, option, and crypto trading experience.
Currently, NOBI manages over IDR 1 trillion worth of crypto assets across all services and experienced tremendous growth with 15x more active users in the last six months. Looking ahead, the startup has plans to further enhance their product and to expand the team by doubling its employees to scale its operation.
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AC Ventures is a leading venture capital firm investing in early-stage startups focused on Southeast Asia. We are a generational partner to founders driving positive societal change and economic impact in Indonesia and beyond.