KONTAN.CO.ID - JAKARTA. Southeast Asian online lending platform Akulaku, which is backed by China's Alibaba , secured $100 million of debt financing from London-based HSBC, Akulaku's CEO said, as it aims to make the company more profitable. William Li told Reuters in an interview on Friday the proceeds from the financing will be used to settle some of Akulaku's debts. "The financials of the entire group are seemingly more and more healthier than before, so we are not in urgent (need) of raising money. We would like to see that the entire group is profitable and then we're considering whether raising money or not," he said.
Baca Juga: IDX Composite (IHSG) Rises 0.16% to 7,350 on Friday (22/3) In 2022, Japan's Mitsubishi UFJ Financial Group (MUFG) and Thailand's Siam Commercial Bank invested $200 million and $100 million, respectively, in Akulaku. Akulaku, which started operations in 2016, has a presence in the Philippines, Malaysia and Thailand, plus Indonesia, the major market for the company as it has a huge tech-savvy population. The firm disbursed around $3.5 billion of loans last year, 25% higher than the previous year, and saw "mild growth" of around 20% in revenue last year to around $500 million, the CEO said.
