Akulaku Finance has secured a US$27.5 million funding facility from Danamon to boost its financing capacity and support the growth of digital financing services across the country.
The technology-based multifinance company will use the funds as working capital. This will help meet the increasing public demand for digital credit options.
The capital injection reflects a collaborative effort between traditional banking institutions and digital lenders. It aims to expand formal financial services in Indonesia.
“This support is expected to strengthen our capacity to deliver relevant financial solutions to various segments of society,”
said Perry Barman Slangor, President Director of Akulaku Finance.
He added that the collaboration with Danamon forms part of the firm’s strategy to optimise its funding structure and build a strong foundation for future growth.
Akulaku Finance operates within the broader Akulaku Group network and is a strategic partner of Danamon.
The funding facility represents an effort by Danamon to support the growth of financial groups backed by MUFG Bank, which serves as Danamon’s parent company.
For Danamon, the partnership aligns with its commitment to offer holistic financial solutions tailored to customer needs. This is particularly within the digital financial services sector.
The sector plays a key role in reaching underserved populations.
“Danamon views this cooperation with Akulaku Finance as a strategic step to strengthen financing support for the technology-based multifinance sector in Indonesia,”
said Jin Yoshida, Director of Global Alliance Strategy at Danamon.
He noted that the working capital facility aims to enhance the funding capacity of Akulaku Finance to serve public credit needs responsibly and sustainably.
Featured image credit: Edited by Fintech News Indonesia, based on image by digitizesc via Magnific
