Mitsubishi UFJ Financial Group Kicks $200 Million into Indonesian Lender Akulaku
Posted on 12/26/2022
Jakarta-based Akulaku is a banking and digital finance platform in Southeast Asia, with a presence in Indonesia, the Philippines, and Malaysia. Mitsubishi UFJ Financial Group, Inc. (MUFG) made a US$ 200 million investment in Akulaku. This is the second strategic investment in Akulaku for 2022. This is following the US$ 100 million in funding closed from Siam Commercial Bank in February 2022. In 2021, Akulaku raised US$ 125 million in a round led co-led by Silverhorn Group.
Along with the investment, Akulaku and MUFG will enter into a framework agreement for Akulaku to work with MUFG companies across Southeast Asia on technology, product development, financing, and distribution. Akulaku’s strong technological capabilities in credit, risk management, mobile banking, and customer acquisition.
Founded in 2016, Akulaku is a major Buy Now Pay Later (BNPL) and consumer financing platform in Indonesia.
Morgan Stanley is acting as financial advisor to Akulaku in respect of the transaction. Kirkland & Ellis International LLP is acting as legal advisor to Akulaku in respect of the transaction.