Ajaib rolls out priority service as total users double YoY

Indonesia-based Ajaib, a stock and mutual fund investment platform, has launched a priority digital investment service catered to more established youths.

Photo credit: Ajaib

Called Ajaib Prime, the service provides qualified users – those with a portfolio size of over 200 million rupiah (around US$13,000) – with personalized services and access to exclusive webinars, events, and promos. The company’s set threshold to avail the premium service is lower than those of its competitors, including Indo Premier’s roughly US$65,000 ask.

Ajaib Prime also offers personal investment consulting and analysis from its financial experts, among other features.

Anna Lora, head of business operations at Ajaib, said the new offering marks the company’s initial step toward developing more priority services.

The rollout of Ajaib Prime comes as public interest in investments in Indonesia’s capital market continues to rise. Ajaib shared that its overall user base grew 100% over the last 12 months despite slowdowns in the crypto industry.

Citing data from the country’s Financial Services Authority, the company said investors in Indonesia’s capital market hit 9.7 million in September this year, with the total expected to top 10 million by the end of 2022.

A separate report from Indonesia’s Central Securities Depository noted that over 80% of these investors are 40 years old and below, with total assets breaching almost US$10 billion as of August.

See also: Indonesia’s Robinhoods face biggest test as market slows: retaining users

Currency converted from Indonesian rupiah to US dollar: US$1 = 15,374.55 rupiah.