With Jeth Soetoyo, Founder & CEO, Pintu
Hemant Mohapatra, Partner, Lightspeed
Alex Svanevik, Co-Founder & Chief Executive Officer, Nansen
Interest in the cryptocurrency space has accelerated globally since the beginning of last year as institutional investors embrace the emerging alternative asset class. Mirroring the global trends, crypto-related startups in SE Asia have also reported increased user traction and deal activity.
In this panel, we feature two startups who have landed double-digit funding, and a seasoned global investor bullish on the crypto space.
Singapore-based Ethereum analytics platform Nansen has recently raised $12 million in a Series A round led by Andreessen Horowitz. The startup focuses on Ethereum research because there is more activity on the blockchain than bitcoin, which can only be used as a currency, believes Nansen’s co-founder and chief executive Alex Svaneik, who has a background in AI and first got interested in crypto in 2017.
Indonesian cryptocurrency exchange Pintu recently landed a $35-million Series A+ funding round led by US-based Lightspeed Venture Partners barely months after it raised $6 million in its Series A financing. Launched in April 2020, Pintu is a licenced crypto broker whose platform is designed for both entry-level and experienced crypto investors. Indonesia is home to over 6.6 million crypto investors as of June 2021, roughly triple the 2.2 million public equity investors. Pintu CEO Jeth Soetoyo believes there is an immense opportunity for retail investors to gain access to the diversified and dynamic investment opportunities.
Pintu-backer Lightspeed has backed over 17 crypto and blockchain companies globally. Partner Hemant Mohapatra feels crypto is at an inflection point to become an important asset class globally and will give rise to massive companies that will become regional leaders.
Despite growing investor interest, there are concerns related to the opaqueness of the crypto market, the volatility of its prices and tightening regulatory scrutiny on the nascent industry. Join this session to get a nuanced perspective on the niche sector.