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The Revenue Of Indonesian Fintech Firm Akulaku Increases By 122%

The entire gross merchandise value of Akulaku climbed by 136% to US$5.8 billion, however, the net earnings hasn’t been disclosed by the company.

The Revenue Of Indonesian Fintech Firm Akulaku Increases By 122%

As a result of rising demand for its neobanking services, Akulaku, an Indonesian fintech firm, expects to more than quadruple its annual revenue to US$598 million in 2021 from US$248 million in 2018.

On the other hand, the firm has not disclosed its net earnings. From the previous year, the entire gross merchandise value of Akulaku climbed by 136% to US$5.8 billion. According to data from the site, user numbers have more than tripled to 26 million, with 4.8 million monthly active users.

While Akulaku’s total loan payout for the year exceeded US$2.2 billion, the number of cash instalments received more than tripled when compared to the previous year. It was also reported that the rate of non-performing loans with a maturity of more than 90 days was 6.3%, decreasing the last year’s pre-Covid-19 figure.

Non-performance loans follow the company receiving US$400 million in investments, as well as its subsidiary Bank Neo Commerce (BNC) raising US$180 million through a rights offering on the Indonesian Stock Exchange. Therefore, bringing BNC’s market value to approximately US$1.7 billion, following the company receiving US$400 million in investments and raising US$180 million through rights offering on the Indonesian Stock Exchange.

The company’s revenue climbed by 150% in the first half of 2021 as a result of the company’s progress in the alternative credit industry.

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