Brief: Julo lands seed round led by Skystar Capital to help close financial inclusion gap

Julo co-founders (L-R): Victor Darmadi, Adrianus Hitjahubessy, Hans Sebastian. Photo credit: Julo.

Jakarta-headquartered Julo is a personal loan app. You upload photos of some personal documents for verification. If approved, you receive a loan within 24 hours.

Competitors: Tunaikita, Uangteman

How it compares to competitors: Julo says one of its key assets is its technically strong founding team and the credit scoring system it developed. Its loan size is up to about US$600 and the pay back period is up to six months. It works with institutional lenders.

Traction

• 50,000 app downloads
• Works with institutional lending partners

Funding details

Amount raised: Undisclosed
Funding stage: Seed
Lead investor: Skystar Capital
Other investors: Convergence Ventures, East Ventures
Investment type: Equity
Purpose: Product, team, distribution
Total funding to date: Undisclosed