Akulaku Finance, the Indonesian digital lending arm of regional fintech group Akulaku, recorded a sharp rise in profit in 2025 as growth in its buy now, pay later (BNPL) business boosted lending and revenue, according to an unaudited performance update released on Thursday.
Akulaku said it disbursed 7.44 trillion rupiah ($439 million) in new financing in 2025, up 23% year-on-year from 6.03 trillion rupiah in 2024. However, the realisation fell short of its earlier target of 9.1 trillion rupiah.
BNPL products accounted for about 89% of the company’s total financing portfolio, underscoring the segment’s role as the main growth driver. The remaining came from productive loans for SME and working capital financing, which accounted for 289 billion rupiah.
The company reported net profit after tax of 108 billion rupiah ($6.4 million) in 2025, marking a 66% increase from the previous year at 65 billion rupiah, reflecting higher financing income alongside improved operational efficiency.
During the company’s press briefing in Jakarta on Thursday, the president director of Akulaku Finance Indonesia, Perry Barman Slangor, said the performance reflects strengthening business fundamentals while maintaining asset quality.
“Our 2025 performance shows that we can deliver strong growth while maintaining healthy profitability and asset quality,” Slangor said, adding that the company plans to pursue more adaptive expansion strategies in 2026.
The improved profitability was supported by revenue growth from expanding financing volumes, diversification of funding sources, and lower funding costs through strategic partnerships.
Akulaku Finance also maintained stable asset quality, with its net non-performing financing (NPF) ratio standing at 1.1% at end-2025, supported by strengthened underwriting systems, tighter portfolio monitoring, and improved collection capabilities.
Slangor said the bulk of BNPL distribution still comes from online channels, which account for 76% of total transactions, or about 46.5 million transactions worth 7.15 trillion rupiah in value. The remainder comes from offline transactions.
He added that Akulaku has 25.2 million registered users, most of whom use the BNPL service with one-month repayment cycles to cover everyday expenses such as paying bills or shopping on partner e-commerce platforms. The company offers repayment tenors of up to 12 months.
The company said its capital structure and liquidity position remained healthy, supported by funding from 16 banking partners, including Bank Maybank Indonesia, J Trust Bank, Superbank, and Bank Sahabat Sampoerna, among others.
In Indonesia, Akulaku Group operates three main entities: Asetku (PT Pintar Inovasi Digital), focused on short-term cash loans; Akulaku (PT Silvrr Indonesia), a multi-product e-commerce platform; and Akulaku Finance (PT Akulaku Finance Indonesia), which handles the company’s BNPL and consumer lending business.
Its BNPL unit competes directly with Kredivo, Shopee PayLater, and GoPay Later, among others.
The group is also the controlling shareholder of Bank Neo Commerce and owns OneAset, a digital investment platform for retail users. Beyond Indonesia, Akulaku has operations in the Philippines, Malaysia, and Thailand. In the Philippines, the group also runs a licensed digital bank app called OwnBank.
Expansion plans
For 2026, Akulaku Finance is targeting new financing disbursements of at least 8.2 trillion rupiah, representing 12% growth compared with its 2025 performance. The company also aims to keep its net NPF ratio below 1.2%.
As part of its growth strategy, the company plans to expand its offline merchant network, particularly in tier-two and tier-three cities outside Java, to increase offline financing volumes.
Akulaku Finance also intends to deepen partnerships within the digital ecosystem and with banking institutions to optimise funding costs and strengthen its capital base. The company is exploring additional funding diversification, including offshore borrowing, to support long-term liquidity.
Slangor said any potential offshore borrowing would likely take place in the second half of 2026, as the company is still assessing its funding needs.
In addition, the firm plans to expand the use of artificial intelligence and advanced analytics to improve credit scoring accuracy, enhance fraud detection, and further refine the digital customer experience.
