Pluang raises US$10M Series C led by MUFG Innovation Partners, launches Indonesian equities

The Indonesia-based investment platform says it reached profitability in 2025 as it expands its product range and regional footprint.

Indonesia-based investment platform Pluang has secured approximately US$10 million in a Series C round led by MUFG Innovation Partners (MUIP), the corporate venture arm of Japan’s Mitsubishi UFJ Financial Group, one of the world’s largest banks. Existing investors Accel and Square Peg also participated in the round.

The fundraise comes alongside the launch of Indonesian equities on Pluang’s platform, adding local stocks to its existing range of products, which includes US equities, exchange-traded funds (ETFs), cryptocurrencies, crypto futures, stock options, digital gold, and mutual funds. According to company data, Pluang received over 50,000 applications for Indonesian stock trading accounts within roughly a week of the launch.

The company did not disclose an updated valuation or specify how the newly raised capital would be deployed in the near term.

Company background and growth metrics

Founded in 2019 by Claudia Kolonas and Richard Chua, Pluang operates a multi-asset investment platform that currently serves more than 13 million registered users in Indonesia. The company said revenue, gross profit, and gross transaction value (GTV) have increased by more than six-fold since its previous investment round in 2022, while assets under custody (AUC) grew nearly five-fold between 2023 and the end of 2025.

Pluang said it reached EBITDA profitability in 2025. Revenue reached approximately US$30 million last year, representing more than 100% year-on-year growth, according to reporting by Tech in Asia. The company also said it became the most downloaded trading app in Indonesia during this period.

Co-founder and CEO Kolonas told AsiaTechDaily that reaching profitability had validated rather than altered the company’s operating approach.

“Reaching profitability hasn’t changed our priorities so much as validated them. We’ve always believed in building sustainably. In fact, 75% of our users come to us organically, and our payback period is under six months. That discipline is what got us to profitability in 2025 while simultaneously launching new products and entering the Philippines.”

Kolonas said the capital would be held largely in reserve for potential acquisitions or further overseas expansion, rather than deployed against immediate operational needs.

“We’re not in a position where we need to chase growth for the sake of it. Our recent funding round, with MUFG Innovation Partners coming on board alongside our existing backers Accel and Square Peg, is about having the firepower to move when the right opportunity arises — whether that’s deepening our product suite in Indonesia or expanding further across Southeast Asia.”

Regional expansion and market context

Pluang entered the Philippines in mid-2025 through a Securities and Exchange Commission (SEC) sandbox programme, which allows users to invest in US stocks using Philippine pesos. The company has said it targets an official launch in the Philippines in 2026, subject to sandbox results, putting it behind competitors such as Ajaib and Stockbit, which have already established Indonesian equities offerings.

The fundraising comes as retail investment participation in Indonesia continues to grow. According to figures cited by the company, the number of retail equity investors in Indonesia rose from approximately 3.8 million five years ago to around 18 million in 2025, while the number of crypto investors increased from under one million to approximately 19 million over the same period.

Kolonas pointed to a similar opportunity in broader access to investment products across Southeast Asia.

“The next major opportunity is making this accessible across the region. We entered the Philippines last year and see enormous potential in markets with similar demographics — young, mobile-first populations that are underserved by traditional wealth management.”

The deal reflects continued investor interest in Southeast Asia’s wealthtech sector. For MUFG Innovation Partners, the investment is part of a broader push by Japanese financial institutions into Indonesia’s digital financial services market, following the group’s 2023 establishment of the Garuda Fund, which has backed local fintech players including Qoala and OY!.

About Pluang

Pluang is an Indonesia-based multi-asset investment platform founded in 2019 by Claudia Kolonas and Richard Chua. The platform offers retail investors access to US equities, ETFs, cryptocurrencies, crypto futures, stock options, digital gold, mutual funds, and Indonesian equities. The company serves more than 13 million registered users and entered the Philippines market in 2025.

Quick Takeaways

• Pluang secures fresh capital: The Indonesia-based investment platform raised approximately US$10 million, led by MUFG Innovation Partners, with continued backing from existing investors including Accel and Square Peg.
• Local equities added to platform: Pluang launched Indonesian stock trading, expanding its multi-asset offerings that already include US stocks, ETFs, crypto, crypto futures, stock options, digital gold and mutual funds.
• Profitability milestone reached: The company said it became profitable in 2025, while continuing product expansion and entering the Philippines market.
• Strong growth since previous funding: According to the company, revenue, gross profit and gross transaction value grew more than six-fold, while assets under custody increased more than fifteen-fold since its 2022 investment round.
• Retail investing continues to rise in Indonesia: Company data shows Indonesia’s retail equity investor base grew from 3.8 million to 18 million over five years, while crypto investors increased from under one million to 19 million.
• Regional expansion remains in focus: Pluang told AsiaTechDaily it sees opportunities across Southeast Asia, particularly in young, mobile-first markets underserved by traditional wealth management services.