SBI Holdings said on August 28 that it had made a strategic investment in Indonesia-based Ajaib Group through a subsidiary. The transaction secured an approximately 20% stake and made Ajaib an equity-method affiliate.
Ajaib said the investment totaled $270 million, lifting its cumulative funding since 2019 to more than $500 million.
SBI described Ajaib as a multi-asset platform spanning conventional financial products and digital assets. The partnership, it said, is part of an effort to develop digital-asset infrastructure and an exchange network centred on Southeast Asia.
SBI’s stake makes Ajaib an equity-method affiliate
The transaction makes Ajaib an equity-method affiliate after an SBI subsidiary acquired an approximately 20% interest, according to SBI’s announcement, which described the investment as strategic.
ANTARA News reported Ajaib’s valuation of the investment at $270 million. SBI’s statement did not include an investment amount.
Separately, The Block called the transaction Ajaib’s largest technology funding round since 2022 and reported that SBI had not put a value on it.
Ajaib said the capital would fund expansion across Southeast Asia. No timetable or specific markets were set out in the cited disclosures and reporting.
Ajaib’s platform spans crypto and traditional markets
The investment reaches beyond a conventional fintech brokerage. SBI said Ajaib operates a multi-asset platform offering traditional financial products and digital assets, covering stocks, bonds, funds, crypto assets, stablecoins, commodities and foreign exchange.
That breadth is central to the transaction’s strategic relevance for SBI: it gives the group an affiliate relationship with an Indonesian platform spanning retail investing and digital assets, rather than one focused solely on a single market segment.
The company’s own description places crypto assets and stablecoins alongside securities, funds, commodities and FX. In the announcement, SBI did not provide operational details on how the companies would integrate their products, services or technology following the investment.
SBI ties deal to Southeast Asia digital-asset network
SBI has framed the partnership as part of a wider regional strategy. The Block reported that the group described the investment as supporting its effort to build digital-asset infrastructure and an exchange network focused on Southeast Asia.
The stated direction aligns with Ajaib’s plan to use the new funds for expansion in the region. The transaction therefore combines a material equity holding with two overlapping ambitions: Ajaib’s push beyond its existing base and SBI’s plan for Southeast Asian digital-asset market infrastructure.
For SBI, the approximately 20% holding establishes formal affiliate status at a time when Ajaib is adding $270 million to its funding total. For Ajaib, The Block’s description of the transaction as its biggest technology round since 2022 puts the investment in the context of the company’s recent fundraising history.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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