- How Akulaku managed to raise $200m despite the tech winter
- Murky outlook for capital markets in Indonesia
- Grab, GoTo cut costs and rein in promotions
How Akulaku managed to raise $200m despite the tech winter
In the midst of the funding winter facing tech companies, it was noteworthy that Akulaku raised $200m in fresh funds from Mitsubishi UFJ, Japan’s largest bank. The latest fundraising could value the Indonesian fintech at $1.5 billion, according to market sources.
Akulaku had raised $100 million in new funds in February 2022 in a funding round involving Siam Commercial Bank (SCB), which was, at the time, considered to be a pre-IPO round. Prior to this, it had raised funds from high-profile investors such as Silverhorn, Ant Financial, Sequoia Capital, and Qiming Venture Partners.