Rocket

Our History

Toby was working at Goldman Singapore in 2021. He was dealing with archaic technology that supports Goldman's business desk called SecDb. Then he, with a couple of middle school friends, went to try out a side project as a hobby. The idea was to build a copy social media platform for stocks in Indonesia, called StockPeek.

Toby was doing the side gig in the evenings after work. So progress was slow. One past Co-Founder summoned his best friend in university: Budi. So Toby had an accountability buddy and Budi was just a crazy coder too. So the app was quickly prototyped out.

Rocket

In late 2021, after Budi decided to change his LinkedIn profile to say that he was building StockPeek, a cool investor named Nikhil Kapur approached him via LinkedIn and he was curious to see what we were building. So Budi didn't sleep for a couple of days to quickly have a working demo to present to Nikhil. On Budi's birthday, 6th of December, the idea was solidly pitched to Nikhil. He was impressed and gave a small cheque to start experimenting with the Indonesian market.

In 2022, traction was not bad but retention was super poor. Plus, there were 5 Co-Founders and due to differences in background and vision for the company, it became hard to make decisions. As we were a small company, we couldn't afford not to be agile in shipping out new products and features. We knew we had to pivot but we had disagreements and the size of the management became a huge blocker.

So Toby and Budi decided to buy out the shares of previous Co-Founders and in early 2023, they built Recompound as we know it today.

Timeline

  • December 2022 — designed client dashboard, started managing <10 clients all of whom are our family members
  • January 2023 — client acquisition mostly through LinkedIn messaging
    • First stranger client ever: Toby had to "beg" to the client to invest IDR 25 mio with us
  • December 2023 — partnered with an investment lead from a local brokerage firm, did not work out and ended the partnership 1 year later
  • August 2024 — tested PFM model with 1 PFM
  • October 2024 — received seed investment from Genesia Ventures, STRIVE, and 1 angel investor
  • December 2024 — annual revenue USD 100,000
  • January 2025 — Our 1st founding team member, Wilson got hired
  • February 2025 — Budi got his Penasihat Investasi OJK license
  • April 2025 — launched picks