Akulaku secures $100M in a funding round led by HSBC to drive expansion in Southeast Asia and develop new financing products.

Mar 25, 2024•over 1 year ago

Amount Raised

$100 Million

JakartaBankingFinancial Services

Investors

Hsbc

Description

Akulaku has secured a credit facility of up to $100 million from HSBC Singapore to support its expansion plans in Southeast Asia and the development of new financing products. The CEO, William Li, mentioned that a portion of the proceeds will be used to settle some of the company's debts. This deal underscores the commitment to supporting new economy businesses.

Company Information

Company

Akulaku

Location

Jakarta, DKI Jakarta, Indonesia

About

Akulaku Group is a leading banking and digital finance platform in Southeast Asia, with a presence in Indonesia, the Philippines, Thailand, and Malaysia. Our foremost goal is to address the daily financial needs of underserved customers in emerging markets by providing digital banking, digital financing, digital investment, and insurance brokerage services.Our pioneering technologies at Akulaku Group are dedicated to enhancing the lives of our users and partners by facilitating access to digital finance. In addition to the Akulaku virtual credit card and ecommerce platform, the company operates Asetku and OneAset, online wealth management platforms; Neobank, a mobile digital bank supported by Bank Neo Commerce; and OwnBank, an innovative banking and financial management app. Akulaku Group’s mission is to serve 50 million users across Southeast Asia by the year 2025.

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