Heaptalk, Jakarta — Akulaku Group closed a credit facility of up to US$100 million, around Rp1.5 trillion, from Singapore’s HSBC. This strategic financing arrangement will further enable Southeast Asia’s fintech group to execute a business expansion plan, deepen its presence throughout SEA, and provide new financing products.
Commenting on the deal, HSBC Singapore’s Head of Structured Banking in Southeast Asia, Shaun Sakhrani, delivered, “We are pleased to support Akulaku Group on their growth ambition by leveraging the bank’s global network, deep regional presence, and comprehensive banking capabilities and solutions. This deal also reinforces our goal to boost the new economy as they move along the different growth stages and expand across the region,”
Furthermore, this collaboration marks their inaugural international financing deal, contributing to advancing inclusive finance. The funding deal is expected to bolster both companies’ steadfast intention to achieve excellence in every market they serve.
“This financial support is instrumental in propelling our continuous efforts to meet the peculiar financial requirements of underserved Southeast Asian communities. We remain resolute in our commitment to utilizing cutting-edge technology to seamlessly provide digital financial solutions in the region, thereby significantly improving our customers’ lives,” Fan Zhang, the CFO of Akulaku Group, said.
Over the last two years, Akulaku has secured several debt financings from diverse banking companies. In early 2022, the company received investment from Thailand’s Siam Commercial Bank (SBC) at US$100 million and another capital injection from Silverhorn Group of US$125 million. As the latest, this fintech group confirmed its new infusion from Japan’s financial corporate, Mitsubishi UFJ Financial Group (MUFG), worth US$200 million last year.
The group perceived this debt facility as critical to pursuing company growth, aligned with the high demand for loan services through pay-later and cash loans. Running three primary business units, Akulaku Group possessed multiple services, covering PT Pintar Inovasi Digital (Asetku), which focuses on cash loans; PT Silvrr Indonesia (Akulaku), a marketplace unit; and PT Akulaku Finance Indonesia (Akulaku Finance), which provides pay-later service.
