Indonesian digital lending platform JULO has reportedly raised fresh capital from its current shareholders, according to a report from DealStreetAsia.
The company is understood to have secured as much as $5m from its leading existing investors, with backers likely including Credit Saison, Quona Capital, Skystar Capital and East Ventures. Sources indicated the deal was probably completed several months ago.
The internal injection arrives at a time when JULO is said to be pursuing a considerably larger fundraising effort.
When approached about the reported deal by DealStreetAsia, JULO would not confirm the details, pointing to its policy of declining to address market speculation or matters relating to fundraising. A company spokesperson noted that the firm “continues to receive strong support from its shareholders” and said the business remains concentrated on reinforcing its core fundamentals.
JULO is a financial technology business developing a financial super app for the Indonesian market. The firm began with digital lending, an area in which it has built significant traction, with hundreds of thousands of Indonesians now using the platform to access quality credit. Its stated mission is to help millions of people across Indonesia improve their financial wellbeing, building a company that future generations will be proud of.
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