Akulaku Sets Financial Distribution to Reach 39.2 Trillion Rupiah This Year

Akulaku, a startup engaged in financing sector, is targeting Rp39.2 trillion disbursement in this year, or increased by 300% from last year. There will be city expansion, new feature launching, and the improvement for some old features.

An ambitious target set aiming to repeat the previous success of Rp9.8 trillion with an average of 1.8 million transaction per month. Akulaku claims the achievement was also increased by 300% in 2017.

"2018 is a great year for us. All innovations and development which was done, ongoing, and to-do list are our commitment to support government's program for financial inclusion," Akulaku Indonesia's Director of Corporate Affairs and Public Relations, Anggie Setia Ariningsih, Wed (1/30).

In addition, the company also targeting up to 30 million active users, which previously was only 10 million. Anggie said, Akulaku users are scattered across Java, Medan, Palembang, and Padang.

In demographic, their age ranging from 21 to 45 years old having job as employees and housewives. The most purchased products are gadget and electronics, household appliances, baby & kids, fashion, and virtual service.

Later, Akulaku will available in more than 10 cities, including Sumatera and Kalimantan. They start seeing potential in East Indonesia with over 15 million downloads and 120 thousand merchants.

"The challenge in East area is to know the demographic, habit and many more. It'll take times for research, but we keep heading there."

Regarding Series D investment rumor from Ant Financial, Anggie avoids to make any comment. She only mentioned that Akulaku has enough investors for business in this year or the following year.

She added, 98% of risk assessment in Akulaku was made by machine learning with various risk module to implement risk analysis and anti fraud. The system is to avoid and minimize human error, internal fraud, and other failure in the conventional company.

This way, the company claims to capable of reducing bad credit. Akulaku, although didn't specifically said, claims to have bad credit below 5% based on OJK's provisions.

"Since the very beginning, we've been watching out the front and back side, in case the fraud can be detected earlier. If the due date has over, we'll keep collecting as per Association and OJK's regulation."

In terms of products, Akulaku has four business lines. First, Sell on Akulaku, an in-app marketplace for transaction via official stores or merchants. When users are interested in buying products, it'll be facilitated by Akulaku credit.

Second, Akulaku Pay for integrated payment system in e-commerce platform partnered with Akulaku. Third, Akulaku Lending for cash loan service to customers (both consumers or merchants) provided by Asetku, Akulaku's subsidiary.

The latest is Akulaku Offline as a payment facility at offline merchants with barcode scanning.

– Original article is in Indonesian, translated by Kristin Siagian