Akulaku, a Jakarta, Indonesia-based provider of a banking and digital finance platform, raised $200M in equity funding.
The investment was made by Mitsubishi UFJ Financial Group (MUFG). Along with the investment, Akulaku and MUFG will enter into a framework agreement for Akulaku to work with MUFG companies across Southeast Asia on technology, product development, financing, and distribution.
The company intends to use the funds to continue expansion with plans to serve 50 million users across Southeast Asia by the year 2025.
Akulaku is a provider of a banking and digital finance platform, which serves underserved customers in emerging markets through digital banking, digital financing, digital investment, and insurance brokerage services. In addition to the its virtual credit card and ecommerce platform, the company operates Asetku, an online wealth management platform, and Neobank, a mobile digital bank supported by Bank Neo Commerce. It is present in Southeast Asia, with a presence in Indonesia, the Philippines, and Malaysia.
FinSMEs
27/12/2022