<article><div dir="ltr">
Indonesian peer-to-peer lending startup Akseleran is close to raising around $5 million of a $7.5-million target for its Series A funding round, DEALSTREETASIA has learnt.
The deal is expected to be closed over the next few weeks.</article>

<div dir="ltr">
Indonesian peer-to-peer lending startup Akseleran is close to raising around $5 million of a $7.5-million target for its Series A funding round, DEALSTREETASIA has learnt.
The deal is expected to be closed over the next few weeks.
Those who have committed to invest in the startup include a group of angels and some of its existing backers, including a New York-based family office and the parent company of local automotive and finance firm Bintraco Dharma.
The startup is also learnt to have held talks with a local venture capital firm for a $1-2 million commitment. When contacted, an Akseleran executive declined to comment on the development. &#8220;Once there is a final agreement, we will be in a position to share the details,&#8221; he said.
Akseleran, a peer-to-peer lending platform, connects SMEs with a group of lenders. It has a mobile application called Auto-Invest through which lenders can determine the loan criteria such as duration of the loan and interest rates to cut down the time and hassle of selecting loan proposals from borrowers.
The startup raised as much as $2.5 million in a pre-Series A funding round at the start of 2019 and claims to have seen significant growth since then.
The company also claims to have begun working with e-commerce giants Tokopedia and Bukalapak since the beginning of 2019, an association that it says will help Akseleran target more potential customers.
“Our target is to have more than 2,000 loan recipients by the end of 2019. By far we have secured around 450 loan recipients. We also have plans to work with B2B companies to add more loan recipients,” Akseleran co-founder Ivan Nikolas Tambunan had said earlier.
According to media reports, throughout 2018, Akseleran had disbursed a total of Rp 210 billion ($15 million) in loans. By the end of 2019, the company aims to channel up to Rp 1.2 trillion ($85 million).
While a part of the fresh funding will help the startup scale up its operations, the other part will be used as ‘loan capital’ as Akseleran looks to increase its disbursements to the country’s SMEs.
Founded in early 2017 by Tambunan along with his two other colleagues, Akseleran started out as a fintech startup that was slated to follow a crowdfunding business model. It was transitioned into a peer-to-peer lending model to comply with rules set by the Indonesian Financial Services Authority (OJK).
With around 65 per cent of its 250 million population still categorized as unbanked, Indonesia offers a significant opportunity for peer-to-peer lending startups.
Over the past few years, the country’s crowded peer-to-peer space has evinced huge investment interest from venture capital firms. Among the peer-to-peer startups that have raised big money this year are Modalku, Koinworks and Investree.
</div>

Indonesian P2P lender Akseleran close to raising $5m for Series A round

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Indonesian P2P lender Akseleran close to raising $5m for Series A round

Create an account to continue reading this premium story for free

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief