Ant Invests $40M In Indonesia FinTech Akulaku
The funding gives Akulaku, which does most of its business in Indonesia but recently expanded into Vietnam and the Philippines, a $450 million valuation, according to Deal Street Asia. Just a few days earlier, the outlet cited anonymous sources who said the startup was planning to raise $100 million in a Series D funding round.
Launched in 2016, Akulaku started out with a virtual credit card before developing its own eCommerce platform, boasting 3C products and virtual payment scenarios.
Photo courtesy of uditha wickramanayaka.