Akulaku secures $200m from Japan’s Mitsubishi UFJ Financial Group
Indonesian digital finance platform Akulaku has raised $200 million from Japan’s largest bank Mitsubishi UFJ Financial Group (MUFG).
Akulaku secures $200m investment
The funding will be used to support Akulaku’s anticipated growth as it looks to provide banking services across Southeast Asia’s underbanked populations.
The $200 million investment follows Akulaku’s $100 million investment secured from Thailand’s Siam Commercial Bank (SCB) in February last year.
As well as the investment, MUFG companies will work with Akulaku to develop technology and products and provide financing and distribution.
Akulaku says it “significantly expanded” its revenue, user base, Gross Merchandise Value (GMV) and loan disbursement throughout 2022.
In a statement, Akulaku says: “By partnering with MUFG, another innovative financial institution, we will have the knowledge, resources, and services to meet the long-term needs of our growing customer base.”
Kenichi Yamato, managing executive officer and CEO of the global commercial banking business unit at MUFG Bank says: “Southeast Asia is key and a second home market to MUFG. Our investment in Akulaku will further solidify our commitment in this region to meet growing financial needs of underserved customers.”
