Mutual fund portals Bibit, Bareksa a new Indonesian battleground for GoTo, Grab

Jakarta-based GoTo and Singapore-based Grab are on the opposing sides in this industry.
Jakarta-based GoTo and Singapore-based Grab are on the opposing sides in this industry.PHOTO: AFP

JAKARTA - Two start-up giants GoTo and Grab have entered a new battleground in Indonesia, seeking to make online investing in mutual funds a fast and easy experience, like their ride-hailing and food delivery services.

The relatively new online mutual fund industry has benefited from a surge in retail investing by stuck-at-home millennials trying their hand in investment with the money that they would have otherwise spent on holidays or elsewhere if not for the pandemic.

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