SBI Holdings invests US$270 million in Indonesia's Ajaib Group

SBI Holdings has made a US$270 million strategic investment in Ajaib Group, Indonesia’s leading online multi-asset investment platform. Through a subsidiary, the Japanese conglomerate acquired an approximately 20% stake in the Jakarta-based company.

This transaction represents Indonesia’s largest tech funding round since 2022. Based on the size of the stake, Ajaib’s valuation is estimated to be roughly US$1.35 billion. Since 2019, the platform has raised a total of more than US$500 million.

The partnership aims to combine Ajaib’s large retail user base and local financial licenses with SBI’s settlement infrastructure. The collaboration is expected to support digital asset expansion in Southeast Asia, including the potential distribution of JPYSC, a yen-backed stablecoin issued by SBI with Startale Group.