Akulaku

Established in 2016, Akulaku stands as a prominent Southeast Asian fintech unicorn, offering a broad spectrum of financial services encompassing consumer credit, digital banking, wealth management, and insurance brokerage. With the ambitious goal of serving 50 million users in Southeast Asia by 2025, Akulaku has already garnered over 20 million users and is celebrated as one of the region's fastest-growing fintech firms. Its remarkable success is attributed to its innovative suite of offerings, thoughtfully designed to cater to underserved and underbanked consumers.

 

Their services include virtual credit cards, "buy now pay later" (BNPL) options, personal loans, mobile digital banking, wealth management tools for investment in financial products, and insurance brokerage services. The company primarily caters to young individuals and millennials who often lack access to traditional financial institutions. Akulaku's significant impact is evident through its role in enhancing financial accessibility and affordability for millions in the region. For instance, its BNPL product has enabled countless individuals to afford goods and services otherwise beyond their reach, while the digital bank has opened doors to banking services for those previously excluded.

 

With over 20 million users in Southeast Asia, over $10 billion disbursed in consumer loans, more than 1 million users on their digital bank platform, and 500,000 users on their wealth management platform, Akulaku has played a pivotal role in increasing the financial inclusion rate in Southeast Asia by 5%. In essence, Akulaku is reshaping the financial landscape of Southeast Asia, driving financial inclusion and fostering economic growth in the region.

According to the GICS (Global Industry Classification Standard) version of March 2023, Akulaku’s industry classification falls within the following categories:

• Sector: Financials
• Industry group: Financial Services
• Industry: Financial Services
• Sub-Industry: Diversified Financial Services