Led · Equity · Mar 2019

Akulaku is a fintech company headquartered in Jakarta that was founded in 2016. The company employs between 1,001 and 5,000 people. Akulaku has raised a total of $480M to date. Its core business is in financial services as a fintech provider. The company plans to use recent funding to support expansion and product innovation. Akulaku recently secured a significant debt facility to bolster its position in the competitive financial landscape. Akulaku is a Jakarta-based fintech that offers a virtual credit card, installment shopping (BNPL), an investment platform and a neobank across Indonesia, the Philippines and Malaysia. Founded in 2016, the company has pursued strategic partnerships—its backers include Ant Group and it launched a BNPL partnership with Alipay+. Akulaku targets serving 50 million users by 2025. The product suite centers on consumer credit and digital banking services, plus investment offerings. The company has been raising strategic capital to expand products and geographic reach in 2023. The recent MUFG investment is intended to support technology, product development, financing and distribution in Southeast Asia. Akulaku is an Indonesia-based fintech that provides buy-now-pay-later (BNPL), consumer finance, digital banking, consumer credit, digital investing, and insurance brokerage services to underbanked customers. Founded in 2014, it operates across Indonesia, the Philippines, and Thailand. In 2021 the company said it had disbursed over $2.2 billion in credit to more than 10 million people. The company's overall income is estimated to have risen 120% to $597 million, driven by its wealth management, e-commerce, and digital banking platforms. Akulaku plans to expand and improve its loan portfolio in its core markets using new financing. The firm cites a large underbanked population in the region—about half unbanked and 18% underbanked—as the market opportunity it aims to serve. Akulaku is an Indonesian fintech startup that offers digital banking services and brokers insurance. Its mobile banking service has about 13 million users in Indonesia. The company counts Jack Ma's Ant Group among its investors. Akulaku plans to expand its offerings across Southeast Asia with a target of reaching 50 million users by 2025. The article does not disclose revenue, valuation, or specific financial terms beyond the announced investment. The reporting situates the investment within SCB's broader regional expansion strategy. Akulaku is an Indonesia-focused online financial services platform that began as a virtual credit card enabling installment purchases and has since diversified into a broader suite of financial services. The company is investing IDR 500 billion (US$35.4M) into Bank Yudha Bhakti (BYB) in a three-stage transaction to be completed by year-end; the first stage involved acquiring Gozco Capital’s BYB shares for IDR 158 billion (US$11.8M), equivalent to 8.95% of Gozco’s BYB shares. Akulaku says the partnership will speed up BYB’s digital transformation and expand the bank’s business into individual loans and services for micro, small, and medium enterprises (MSMEs). Company leaders framed the move as a combination of Akulaku’s technology with BYB’s banking license and operations. Collaborating with a licensed bank offers legal benefits and access to services and data restricted to full banking institutions. Akulaku most recently raised a US$100M Series D led by Ant Financial; CrunchBase lists total funding at US$220M and DailySocial reported an approximate valuation of about US$500M.