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500 Startups backs Stockbit’s social investment platform for Millennials

Stockbit, an Indonesian stock analytics venture, raised (undisclosed) funding from 500 Startups to launch a social investing platform for millennials.

Stockbit’s platform allows users to discuss trading and investment ideas with each other and copy other users’ investment portfolios.

Stockbit launched in 2012 with financial data and stock screening on the Indonesia Stock Exchange for retail investors.

“The Indonesian stock market, as with most emerging markets, is inefficient. This is partly due to the lack of available data and easy-to-access technology,” explained CEO Wellson Lo in 2015.

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