Akulaku
Akulaku is an Indonesian fintech company that provides consumer credit, digital banking, wealth management, and insurance brokerage services in South East Asia. The company has operations in Indonesia, the Philippines, Thailand, and Malaysia.
History
Akulaku was officially founded in 2016 by William Li and Gordon Hu. Before it became Akulaku, the company began in 2014 by providing cross-border remittance services for domestic workers in Hong Kong as Silvrr before branching out to operate its online credit and e-commerce platform in Indonesia and the Philippines. In 2016, the company pivoted into a fintech company.
In 2019, Akulaku acquired an Indonesian bank called PT Bank Yudha Bhakti Tbk (BBYB) and later renamed it PT Bank Neo Commerce Tbk (BNC).
In 2022, Akulaku received two strategic investments from major Asian financial institutions. In February, Thailand's Siam Commercial Bank (SCB) invested US$100 million in the company. In December, Japan's Mitsubishi UFJ Financial Group (MUFG) invested an additional US$200 million as part of a strategic partnership to expand collaboration in technology, financing, product development, and distribution across Southeast Asia.