Akulaku, an Indonesian finance startup, is reportedly in talks to lift $100 million in a Series D funding round. Ant Financial, Alibaba’s financial services business arm, is anticipated to affix the funding round as a strategic investor.
According to KrAsia, The funding round will further deepen Alibaba’s presence in Indonesia through Ant Financial and the corporate’s portfolio firms, particularly within the e-commerce sector.
If confirmed, the full funding raised by Akulaku will reach $220 million. In October 2017, the corporate raised a $70 million funding round led by Fanpujinke Group, with participation from Sequoia India, BlueSky Venture Capital, and Qimimng Venture Capital, DailySocial.id reported.
According to DEALSTREETASIAAkulaku was founded in 2014 and has primarily been selling virtual bank cards. It also offers digital, communication and consumer products. It is taken into account Indonesia’s largest online consumer financial services provider.
Apart from Indonesia, Akulaku can also be present within the Philippines, Vietnam and Malaysia.
Southeast Asia has grow to be Alibaba’s favorite place to construct its international footprint. In the e-commerce sector, Alibaba has invested in Lazada and Tokopedia, while within the fintech sector, the corporate has a presence in several local players, akin to Dana (Indonesia), GCash (Philippines), TrueMoney (Thailand) and TnGD (Malaysia).
At a press conference a while ago, Akulaku announced that it intends to expand its presence in Indonesia, from Java to Borneo and Sumatra.
The company’s business line includes Asetku (P2P lending), Akulaku Silvrr (marketplace), Akugrosir (B2B e-commerce) and Akulaku Finance (multi-financing). Its latest version is Kredit Offline, which allows customers to pay in installments with offline merchants.
Akulaku claims to have 15 million registered users and two million lively ones.
