Bibit is an Indonesian mobile solution for mutual fund investors. It was designed with a mission to make investing more accessible in Indonesia, helping people to transition from low-interest bank accounts to much more profitable liquid investments. Being a robo-advisor, the app relies on algorithms to provide financial planning services based on each user’s profile data. To be more precise, the app considers such variables as the investor’s age, income, and risk tolerance. Bibit monitors portfolios automatically to help users maintain the balance in their allocations. The registration process is super straightforward and can be finished in a matter of minutes with no bureaucracy involved. As for additional benefits, Bibit charges no commission fee for mutual fund purchases, enables unrestricted money disbursements, and is not subject to tax. Moreover, having all the time they need to grow into confident investors, Bibit users can start their investments with as low as one dollar.
Having worked with fintech innovators from Africa, we are eagerly exploring other geographies, keeping an eye on promising startups like Bibit. We have thoroughly tested the app, and here are a couple of things we believe should be tweaked.
- February 25, 2021