April 16

JULO Raises US$80M from Credit Saison to Further Expand in Indonesia

Indonesia-based fintech startup JULO today announced that it has raised US$80 million in funding from Credit Saison, a Japan-based company that provides digitalised and localised financial services to the underserved market in Southeast Asia and India.

This funding includes a mix of US$30 million equity and US$50 million debt fully funded by Credit Saison.

In a press statement, the companies stated that the investment round was structured to scale JULO’s growth with a two-pronged approach.

The US$30 million equity will be used to advance JULO’s analytics, for product development, marketing, and customer acquisition plans by hiring additional talent across their developer, data scientist and business intelligence teams. Meanwhile, the US$50 million debt will be used to fuel finance loans on the platform.

Photo courtesy of Seika.

Source: e27 (link opens in a new window)

financial inclusion, fintech