Indonesian fintech firm Akulaku has diversified from consumer finance to Buy Now Pay Later (BNPL), while making great strides in digital banking. The digital banking unit PT Bank Neo Commerce has been the engine driving Akulaku’s growth, bringing on new customers, the majority of whom originated outside the platform’s existing customer base.
In this report, we analyse what’s next for Akulaku as BNPL players face increased competition and scrutiny. Meanwhile, does it make sense for the startup to pursue a SPAC merger?
