INSUBCONTINENT EXCLUSIVE:
Julo, a peer-to-peer lending platform in Indonesia, said on Wednesday it has extended its $5 million Series A raise to $15 million as it
looks to scale its business in the key Southeast Asian market.The $10 million Series A2 round for the Jakarta-headquartered startup was led
by Quona Capital, with Skystar, East Ventures, Provident, Gobi Partners and Convergence participating
The two-year-old startup, which has raised about $16 million to date, is now closing the round, Adrianus Hitijahubessy, co-founder and CEO
of Julo, told TechCrunch in an interview.Through its eponymous Android app, Julo provides loans of about $300 to users at aggressively
Julo has managed to keep its interest rate low because its credit scoring system is more efficient than those of its rivals, claimed
Hitijahubessy, who has amassed more than a decade of experience in credit scoring systems using alternative data from his previous
Not just Indonesia, but globally
But it comes down to who actually knows what they are doing
The bar is becoming higher and it is increasingly becoming difficult for digital lending companies to just launch an app and charge a high
It says it has disbursed about $50 million to date.Hitijahubessy said Julo will use the fresh capital to expand the team and enhance its
The startup intends to focus on growing its business in Indonesia itself.In a statement, Ganesh Rengaswamy, co-founder and partner of Quona
becoming an increasingly crowded space in South Asian markets
In India, for instance, a growing number of digital mobile wallets, including Paytm and MobiKwik, have recently started to offer credits to
