Jakarta-based wealthtech firm Pluang announced that it has raised $10 million in fresh funding led by MUFG Innovation Partners (MUIP), the corporate venture arm of Japan’s Mitsubishi UFJ Financial Group.
The announcement confirms DealStreetAsia’s report in September that said Pluang was in talks to raise fresh funds from investors, including MUIP.
With the fresh funding, Pluang launched local equities trading, adding another asset class to its wealth platform as it seeks to deepen its position in Southeast Asia’s digital investment market.
The launch expands Pluang’s existing products, which include US stocks, exchange-traded funds, crypto, crypto futures, stock options, gold, and mutual funds.
The expansion comes as Indonesia’s retail investor base continues to grow.
Pluang said the number of local equity investors rose to 18 million in 2025 from 3.8 million five years earlier, while crypto investors increased to 19 million from under 1 million over the same period.
“Our introduction of local equities is designed to make investing accessible to novice investors, providing them with a complete set of tools that were previously out of reach for the general public,” said Claudia Kolonas, co-Founder of Pluang.
Notably, Pluang has been steadily raising funds over the past two years. It raised $20 million in a pre-Series B round in March 2021, followed by a $35-million Series B in September the same year, led by Square Peg Capital.
In January 2022, the company extended its Series B with a $55-million raise led by Accel and backed by existing investors, signalling strong confidence in its mission to democratise retail investing in Indonesia.
Founded by Kolonas and Richard Chua, Pluang provides a platform for retail investors to invest in gold, equity indices, mutual funds, and cryptocurrencies, with entry points starting as low as $0.50, a proposition that has proven appealing to Indonesia’s expanding middle class and first-time investors.
MUFG’s growing interest in Pluang highlights another strategic move by Japanese investors in Southeast Asia’s largest economy, where the digital finance opportunity remains massive but under-penetrated.
In 2023, MUFG and its subsidiaries set up the $100-million MUFG Innovation Garuda No. 1 Limited Investment Partnership (the “Garuda Fund”), which has invested in local fintech players Qoala and OY!. The fund is a collaboration between MUIP, MUFG Bank, and Indonesian commercial bank Danamon.