Indonesian wealth tech startup Moduit Digital raises $4.5m in pre-Series A round
Summary
“Moduit has developed the digital tools that help its advisory partners open an important gateway to wealth for Gen-Zs and Millennials,” Reciprocus Financial Services CEO David J. Emery said in a statement. Moduit is the first startup to benefit from the consortium’s effort to develop fintech in Southeast Asia, the statement said. Indonesian wealth tech sector has once again proved its allure to investors and users alike amid pandemic disruptions that have forced people to hold their discretionary spendings that are being channelled towards online investing. According to DealStreetAsia’s report on The State of Wealthech in Indonesia, the country’s wealthtech startups have raised $356 million up to June 2021. Moduit, which was founded in 2018 by Jeffry Lomanto and Charles Jap, joined the wagon to attract unproductive assets owned by Indonesians.