OJK Restricted Activities for Four Months, Akulaku Finance Experiences 30% Business Decline

PT Akulaku Finance Indonesia, the finance company behind the service paylaterAkulaku, now no longer faces business restrictions by the OJK. This was conveyed directly by the President Director Akulaku Finance Efrinal Sinaga. Now the company is ready to improve its business performance which has fallen since the letter of restriction was issued in early October 2023.

To DailySocial.id, Efrinal said that it was a business transaction Akulaku fell by almost 30% during the restriction period. So that you don't encounter the same problem again, in the future Akulaku committed to carrying out operational business in accordance with applicable rules and regulations.

"This year there are several programs marketing that we will launch like co-branding, themetyc, also additions channel and expansion coverage area [..] According to the business plan Akulaku "Finance Indonesia will also increase financing in the productive sector and develop other areas such as automotive financing," he said.

In Indonesia, group Akulaku runs 3 companies, namely Asetku (PT Pintar Innovation Digital) which focuses on cashloan, then Akulaku (PT Silvrr Indonesia) as a platform marketplaceand Akulaku Finance (PT Akulaku Finance Indonesia) who runs the business paylater.

Research Akulaku also becomes a controlling shareholder Neo Commerce Bank. Since 2022 the company has also started releasing services OneAsset as an investment service for users.

Akulaku Finance itself claims to have 11 million registered users with 7 million monthly active users. That user ecosystem generated more than 300 million transactions on their platform.

in line paylater, Akulaku compete directly with a number of key players such as Kredivo, Indodana, Shopee Paylater, Gopaylater, and several others.

Akulaku has now become one of the unicorns operating in Indonesia. They finally received $200 million in funding from Mitsubishi UFJ Financial Group (MUFG) at the end of 2023.

Previous, Akulaku raised $100 million in funding from Siam Commercial Bank (SCB) in early 2022. This acquisition follows a $125 million investment round in the previous year led by Silverhorn Group, which is also the financing partner (financing partners) since 2018