Ant-backed Akulaku reportedly in discussions to raise $200m

Ant-backed Akulaku may snap up a US$200 million funding from Japan-based Mitsubishi UFJ Financial Group (MUFJ), according to a Bloomberg report that cited sources.

In March, the Indonesia-based fintech firm raised US$10 million in debt funding from Lend East.

Akulaku became a unicorn in February after securing US$100 million from Thailand-based Siam Commercial Bank.

The MUFJ investment is likely to boost Akulaku’s valuation to US$1.5 billion. While talks are ongoing, the funding deal could still fall apart.

Founded in 2016, Akulaku also operates in Malaysia and Vietnam. It offers digital banking, consumer credit, digital investment, and insurance brokerage services. In Indonesia, it provides consumer financing as well as buy now, pay later services.

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