Indonesia-based Akulaku scores $100m strategic investment

Southeast Asia digital banking and finance platform Akulaku has received a $100m strategic investment from Thai full-service bank Siam Commercial Bank.

Akulaku, which was founded in 2016, claims to be the largest buy now, pay later and consumer financing platform in Indonesia. In 2021, it distributed $2.2bn to over six million users.

Akulaku CEO William Li said, “We founded Akulaku to meet the daily financial needs of underserved customers in emerging markets.

“Our recent round of funding will allow us to continue that vision by further expanding the geographic reach of our offerings across Southeast Asia and enable us to continue introducing new innovations to serve our customers.”

This deal comes after a $125m investment round in 2021, which was co-led by Silverhorn Group.

Earlier in the year, it was reported Akulaku was eyeing a potential merger with special purpose acquisition company (SPAC) Catcha Investment Corp. This would value the company at almost $2bn.

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