Ribbit Capital Acquires a Minority Stake in Indonesian Digital Bank Jago

Venture capital firm Ribbit Capital has snapped up a minority stake in Bank Jago, a Gojek-backed digital bank.

Ribbit Capital had previously invested in Tinkoff, Revolut, BharatPe, Robinhood, Affirm, Nubank, Coinbase and Credit Karma.

Prior to this, ride hailing super app Gojek had acquired a 22% stake in Bank Jago who had launched its fully digital banking platform in April 2021. Gojek’s app now includes a cashless payment method powered by Jago for seamless in-app payments.

Read more: Fintech News Indonesia