Roehl Niño Bautista · · 1 min read🦄 Akulaku gets $10m funding for SEA push
Indonesia-based fintech firm Akulaku has raised US$10 million in debt funding from Lend East.
Photo credit: Akulaku
Akulaku offers digital banking, consumer credit, digital investment, and insurance brokerage services. In Indonesia, it also has a buy now, pay later and consumer financing platform. It is aiming to boost its lending portfolio in Indonesia, Thailand, and the Philippines with the fresh funds.
Founded in 2016, Akulaku also operates in Malaysia and Vietnam. It recently hit unicorn status after a US$100 million raise.
“Akulaku has continued to see significant growth in the past year, and this additional funding will allow us to continue meeting the needs of the underbanked throughout Southeast Asia,” said CEO William Li.
About 18% of Southeast Asians are considered underbanked while Vietnam, Indonesia, and the Philippines each have an unbanked population of over 50%.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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