Akulaku Reportedly in the Middle of the Series D Funding Process of More than 1,4 Trillion Rupiah from Alibaba (UPDATED)

Akulaku, a startup engaged in financing, is reportedly in further talks for series D funding worth US$100 million (more than Rp.1,4 trillion). Ant Financial, Alibaba's business line engaged in financial services, will join this round as a strategic investor.

According to sources from Momentum Works, Ant Financial reportedly invested as much as US $ 40 million (approximately IDR 560 billion) from this funding round.

Quoted from Krasia, this funding will have an impact on the deeper penetration of Alibaba's business (through Ant Financial) and the portfolio of other companies incorporated in Alibaba, especially in terms of services. E-commerce in Indonesia.

If this news is confirmed, it can be said that the total funding has been received Akulaku broke to US $ 220 million (more than Rp. 3,08 trillion). In October 2017, the company accepted series C pendanaan funding $70 million (over IDR 1,06 trillion) led by Fan Pujinke Group, followed by Sequoia India, BlueSky Venture Capital, and Qimimng Venture Capital.

Southeast Asia is the region most ogled by giant Alibaba in building its international footprint. For line E-commerce, Alibaba invests in Lazada and Tokopedia. Meanwhile from the side fintech, Alibaba is present in a number of local players, such as Dana (Indonesia), GCash (Philippines), TrueMoney (Thailand), TnGD (Malaysia).

Akulaku was founded in 2014 with the main business line of virtual credit cards and offers sales of computer, communications, and consumer products. Besides Indonesia, Akulaku also operates in the Philippines, Vietnam, and Malaysia.

In Press conference some time ago, party Akulaku said that this year it would expand to Kalimantan and Sumatra to expand customer coverage, previously only serving the Java area.

Akulaku has three business lines under it, namely Asetku which is engaged in p2p loans, Akulaku Silvrrr (marketplace), Wholesalers (B2B E-commerce), and Akulaku Finance is engaged in financing (multi-finance).

Newly released last product Akulaku is Offline Credit, allows users to pay at offline merchants in installments. claimed Akulaku has 15 million registered users and 2 million of them are active users.

*Update: We added additional articles from Momentum Works