Indonesian P2P lender Akseleran bags $8.6m in Beenext-led round

Akseleran, an Indonesian peer-to-peer lending platform focusing on small and medium-sized enterprises, has officially announced that it closed an US$8.6 million series A funding round late last year, led by Beenext.

Participating investors include Access Ventures, Agaeti Venture Capital, Ahabe Group, and Central Capital Ventura, the corporate venture capital arm of Bank BCA.

Photo credit: Akseleran

Akseleran plans to use the new funds to scale up the team, invest in technology, and penetrate the underserved Indonesian market, according to a statement.

“We will keep developing tailor-made loan products that suits the needs of SMEs. We also want to open more access for everyone to lend to and support the SMEs and get a higher return of investment through a safe and efficient platform,” said Ivan Tambunan, the CEO and co-founder of Akseleran.

Last year, it was reported that the startup raised US$8.5 million in a series A funding round. At the time, Akseleran did not deny the claim but refused to share more details until it received a license approval from Otoritas Jasa Keuangan (OJK), the financial services authority of Indonesia.

The OJK granted the platform an operating license in December 2019, allowing the startup to provide lending services.

“In Indonesia, the majority of SMEs are still underserved by conventional lending providers, and without access to the financial services, these MSMEs are excluded from the growth and its benefits,” said Teruhide Sato, the managing partner of Beenext.

Launched in 2017, Akseleran said it has disbursed more than US$71.4 million worth of loans to over 2,000 SMEs. It aims to boost the number to US$146.4 million this year.