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Ant-backed Akulaku in discussion for $200 M raise from MUFJ: Reports

According to a Bloomberg story that quoted sources, Ant-backed Akulaku may accept a US $200 million financing from Japan-based Mitsubishi UFJ Financial Group (MUFJ).

The Indonesian FinTech company received $10 million in loan financing from Lend East in March.

In February, Akulaku attained US $100 million from Thailand’s Siam Commercial Bank, turning it into a unicorn.

Akulaku’s valuation would most likely increase to US $1.5 billion thanks to the MUFJ investment. The financial agreement may not be finalised while negotiations are still going on.

The 2016-founded Akulaku also has operations in Malaysia and Vietnam. It provides services for consumer finance, digital investments, insurance brokerage, and digital banking. Both consumer finance and purchase now, pay later options are offered in Indonesia.




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