Pintu Raises $113M Series B Financing
Gunderson Dettmer represented client Pintu, an Indonesia-based cryptocurrency platform, in its $113 million Series B financing raised from Intudo Ventures, Lightspeed Venture Partners, Northstar Group and Pantera Capital. The new capital will enable the company to add more tokens and support blockchains and new products. Pintu will also expand its team and the Pintu Academy program to promote healthier and more sustainable trading practices.
In the announcement of the transaction, chief marketing officer at Pintu Timothius Martin said, “We see that the market is more mature now compared to last year. Users are starting to make investment decisions based on the use-cases of the crypto assets. For example, gaming is a big thing in Indonesia with over 100 million gamers in the country. This spurs significant growth in gaming and metaverse-related crypto assets, as many believe that these projects are contributing to the future of gaming.”
The Gunderson deal team was led by Jonathan Pentzien and included Benjamin Teo, Binh Vong and Lim Jun Heng.