Indonesia’s e-commerce giant Bukalapak has announced the launch of a new fintech and mutual funds selling unit, called Buka Investasi Bersama (BIB).
The current offering is an extension of the financial services it has been providing since 2016, as per a statement. The company already runs BukaReksa, which also provides mutual funds services.
“In our journey of building an investment product since 2016, we learned that investment and financial services play a crucial role in creating a better life for individuals. We hope to provide accessible investment solutions for all, erasing the stigma that investment products are only meant for some parts of the society,” BIB’s President and CEO Teddy Oetomo.
Bukalapak stated that it aims to turn 500,000 of its users into mutual funds investors by 2021.
With its objective of making financial products easy, accessible and available to the underserved population, the firm has been collaborating with many companies to build leverage on an extensive local network of customers.
Last year, it also entered into a partnership with Axinan to provide digital insurance to its customers.
“We hope BIB will provide more accessible investment services for everyone and that it will debunk the old assumption that says investment services are only for a certain group of people,” Oetomo added.
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