Ajaib: Building a High-Growth Southeast Asian Fintech Venture

By George Foster, Alessia Morales
2024 | Case No. E821 | Length 25 pgs.
This case follows Yada Piyajomkwan and Anderson Sumarli as they create Ajaib, a financial technology venture based in Indonesia. The case begins when the students meet as MBA students at Stanford GSB and follows the founders’ journey from forming the idea through raising a series A round and exploring potential new lines of business. The case covers the beginning stages of finding a business partner, creating products, establishing a business model, and raising venture funding. It also highlights some of the highs and lows that early stage founders experience as they navigate unforeseen challenges and pivot to new opportunities. The case includes an appendix with notes from some of Ajaib’s investors.

Learning Objective

This case explores and sets the stage for discussion of the following topics:

  • Understanding growth accelerators and inhibitors in the early stages of company formation
  • Evaluating and executing on new growth opportunities
  • Managing expected and unexpected challenges as founders
  • Exploring mergers and acquisitions
  • Raising venture funding (from the perspective of founders and VCs)
This material is available for download by current Stanford GSB students, faculty, and staff only. For inquires, contact the Case Writing Office. Download