Indonesian P2P lender Akseleran secures $2.5m in ongoing Series A round

Indonesian peer-to-peer lending startup Akseleran has secured a commitment of around $2.5 million towards a targeted $7.5-million Series A funding round, which it expects to close this year, according to an official release.

While the release did not disclose the identity of the investors, Akseleran co-founder and CEO Ivan Nikolas Tambunan had told DEALSTREETASIA in December that around $2 million of the early commitment was secured from the company’s existing investors, including a New York-based family office and the parent company of local automotive and finance firm Bintraco Dharma.

He had also said that the Jakarta-based startup is currently in talks with regional and local VCs to raise the remaining $5 million, particularly with potential investors that have an affiliation with financial institutions or are fintech-focused.

The fresh funding, Tambunan said, will help the company scale up its operations and will also be used to disburse loans to the country’s SMEs.

Last year, the company claims it managed to disburse up to Rp 210 billion ($15 million) to 450 borrowers. For 2019, the company has set a target of disbursing Rp 1.2 trillion ($86 million) to over 2,000 borrowers.

In addition, Akseleran is also looking to expand its lender base this year, targeting to work with over 120,000 lenders, up from 56,000 last year.

Akseleran is a peer-to-peer lending platform that connects SMEs with a group of lenders. It has a mobile application called Auto-Invest through which lenders can determine loan criteria such as duration of loan and interest rates to cut down the time and hassle of selecting loan proposals from borrowers.

It had raised $1.85 million in its pre-Series A funding round at the start of 2018.

Founded in early 2017 by Tambunan and two other colleagues, Akseleran started out as a fintech startup employing an equity crowdfunding business model but later pivoted to 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 presents a huge opportunity for peer-to-peer lending startups.

The country’s crowded peer-to-peer space has attracted huge investment interest from venture capital firms. Among the peer-to-peer startups that have raised big money recently are Modalku, Koinworks and Investree.

Also Read:

Indonesian P2P lender Akseleran eyes $7.5m Series A funding round

Indonesian startups Akseleran, Pomona confirm recent funding

Indonesia Digest: Go-Jek partners 3 P2P lenders; OJK revokes permit of 5 online lenders

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.