Harvard University’s endowment has participated in a funding round for the robo-advisory platform.
Bibit.id, an Indonesia-based robo-advisor app developer, has secured $65m in a funding round backed by Harvard Management Company, the university’s endowment, according to DealStreetAsia.
Prosus Ventures, the investment arm of internet group Prosus, and internet company Tencent took part in the round, which was led by Sequoia Capital India. AC Ventures and East Ventures filled out the round.
Bibit, owned by millennial-focused stock investment platform Stockbit, operates a robo-advisory investment service targeting first-time investors.
Sequoia Capital India, East Ventures, EV Growth, AC Ventures and 500 Startups previously invested $30m in January this year.