Ribbit Capital to Support Bank Jago Expanding Its Ecosystem
Ribbit's share ownership is less than 5%; in Indonesia they also invest in Ajaib
Earlier this week (04/10), Bank Jago officially announced Ribbit Capital's arrival into the ranks of its investors. There's no further details regarding the nominal funding provided, in an IDX disclosure, it was stated that Ribbit Capital's ownership of Bank Jago does not exceed 5%.
The company's representative said that Ribbit's arrival was considered strategic because they were previously known as venture capitalists that oversee top-notch fintech applications in the global arena. Services such as Robinhood, Revolut, Affirm, Nubank, Coinbase, and Credit Karma are included in the portfolio.
Ribbit is also a shareholder in an investment app developer startup Ajaib -- they recently achieved 'unicorn' status through a new funding round with Ribbit Capital.
Validating future prospect
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