Akulaku Group
Akulaku Group is a Southeast Asian digital finance platform serving underbanked consumers across Indonesia, Philippines, Vietnam, Malaysia, and Thailand through BNPL (Akulaku PayLater), installment loans, cash loans, vehicle-backed lending, an in-house e-commerce marketplace, and Bank Neo Commerce digital banking subsidiary, backed by MUFG, SCB, and HSBC.
- Company typePrivate
- Founded2014
- HeadquartersJakarta, Indonesia
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Akulaku Group does
Akulaku Group operates a multi-product digital finance platform headquartered in Singapore with primary operating subsidiaries in Indonesia (PT Akulaku Silvrr Indonesia, PT Akulaku Finance Indonesia) and a digital banking arm (Bank Neo Commerce). The company serves underbanked and underserved consumers across Indonesia, the Philippines, Vietnam, Malaysia, and Thailand, offering Buy Now Pay Later (Akulaku PayLater), installment loans (Dana Cicil up to Rp15M, 3-12 month tenor), cash loans (Pinjaman Tunai up to Rp7M, 1-3 month tenor), vehicle-backed loans (Pinjaman BPKB up to Rp2B, 48-month tenor), and a B2B white-label Digital Banking Solutions platform. The company reports 5M+ monthly active users, 21M+ registered users, 192M+ platform transactions, 90,000+ merchants, and 33M+ cumulative customers across its regional footprint.
The technology stack is built on an in-house distributed microservices architecture with dual data centers in Indonesia and processing capacity of 5 million transactions per day at 600 transactions per second. AI capabilities form the underwriting backbone and include a graph mining algorithm supporting hundreds of billions of connected data points, facial recognition with liveness detection for E-KYC, a proprietary machine learning platform, and voice recognition/synthesis — collectively enabling credit decisions on borrowers lacking traditional credit history. The platform is supported by engineering R&D in Shenzhen and operational offices in Jakarta, Ho Chi Minh City, Pasig City, and Kuala Lumpur.
Revenue is generated through multiple streams: merchant BNPL transaction fees of 0.5%-1.5% per order, interest income from consumer loans (daily rates starting at 0.03%, ~3% monthly), e-commerce marketplace commissions starting at 1%, vehicle-backed loan interest, and managed B2B digital banking services sold to financial institutions. The company has raised over US$500M in cumulative equity and debt from strategic investors including MUFG (US$200M, December 2022), Siam Commercial Bank (US$100M, February 2022), Ant Group, The Silverhorn Group, and HSBC (US$100M credit facility, March 2024), with the CEO publicly disclosing plans to pursue an IPO alongside a stated 25% loan-issuance growth target for 2024.
Akulaku Group firmographics
Firmographics- Name
- Akulaku Group
- Legal name
- Akulaku Group
- Website
- https://akulaku.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Akulaku Group is a Southeast Asian digital finance platform serving underbanked consumers across Indonesia, Philippines, Vietnam, Malaysia, and Thailand through BNPL (Akulaku PayLater), installment loans, cash loans, vehicle-backed lending, an in-house e-commerce marketplace, and Bank Neo Commerce digital banking subsidiary, backed by MUFG, SCB, and HSBC.
- Ownership category
- akta.pro rank
Akulaku Group industry classification
Industry- Product category
- Digital Consumer Finance
- NAICS
- Sales Financing (52222), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Merchant-Integrated BNPL (Online Checkout) (FSAKACAA)
- akta.pro secondary industries
- Buy Now, Pay Later (BNPL) Platforms (BPAMAFAG), Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG), Buy Now, Pay Later (BNPL) (CRAFALAD), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
Keywords
Where Akulaku Group is headquartered
LocationHeadquarters
- HQ city
- Jakarta
- HQ country
- Indonesia
- HQ region
- Asia
Offices5 records
Markets served
Akulaku Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations
Revenue model
- Buy Now Pay Later (BNPL) Transaction Fees: Akulaku PayLater generates revenue through transaction fees charged to merchants (0.5%-1.5% per order) and interest income from consumer installments. Merchants receive early payment while Akulaku manages collection and bears risk.
- Digital Lending Interest: Interest income from installment loans (Dana Cicil up to Rp15 million, tenor 3-12 months) and cash loans (up to Rp7 million, 1-3 months). Daily interest rate starting at 0.03% (approximately 0.1% per day, 3% monthly).
- Digital Banking Services: Revenue from digital banking solutions including account capabilities, payment services (QR codes, card issuing), and B2B services sold to partner institutions. Includes white-label digital banking technology.
- BPKB Vehicle Loan Processing: Collateral-backed vehicle registration loans (BPKB) up to Rp2 billion with tenor up to 48 months, generating interest income on secured lending.
- E-commerce Marketplace Commission: Commission fees from merchants on the Akulaku e-commerce platform, starting from 1% commission with free first-period fees for new brand stores.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Merchant PayLater Integration - Admin Fee 0.5%-1.5% |
| Usage-based | Monthly | Dana Cicil Installment Loans - Up to Rp15 million |
| Usage-based | Pay-as-you-go | Pinjaman Cash Loans - Up to Rp7 million |
| Usage-based | Monthly | E-commerce Credit - Up to Rp25 million limit |
| Usage-based | Monthly | BPKB Vehicle Loan - Up to Rp2 billion |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels7 records
Akulaku Group product offering
Product offeringCore offering
Akulaku Group is a Southeast Asian digital finance platform that offers Buy Now Pay Later (BNPL), installment and cash loans, vehicle-backed loans, and white-label digital banking infrastructure. Through the Akulaku mobile app and embedded integrations with merchants and payment gateways, consumers access credit, installment shopping, and digital banking; merchants and financial institutions integrate Akulaku PayLater and Digital Banking Solutions technology via API.
Product overview
Akulaku Group operates as a comprehensive digital financial ecosystem in Southeast Asia, comprising a main mobile application platform with e-commerce and BNPL functionality, the Akulaku PayLater merchant payment solution, white-label Digital Banking Solutions technology platform, and multiple lending products including Dana Cicil (installment loans), Pinjaman Tunai (cash loans), and Pinjaman BPKB (vehicle-backed loans). The ecosystem also includes Asetku (wealth management platform) and Bank Neo Commerce (neobank). The platform serves consumers across Indonesia, Philippines, Vietnam, and Malaysia with over 5 million monthly active users and 21+ million registered users.
Differentiator
Problem solved
Functional benefit
Brands
- Akulaku PayLater: Buy Now Pay Later (BNPL) service allowing users to transact on various e-commerce platforms using available credit limits.
- Asetku
- Bank Neo Commerce (Neobank)
- Akulaku App
Products and services
- Akulaku App Mobile application providing e-commerce shopping with Buy Now Pay Later (BNPL) functionality, installment payments up to 12 months, and cash loan products for consumers in Southeast Asia. Features include credit limit application approved within 5 minutes, shopping on the platform and partner merchants, and access to cash loans.
- Akulaku PayLater Buy Now Pay Later (BNPL) payment solution enabling consumers to make installment purchases with 0% down payment and tenors up to 12 months, embedded at checkout of partner e-commerce platforms (Tiket.com, Bukalapak, Blibli) and offline merchants (Alfamart). Merchants benefit from 30% increase in new customers, 22% increase in repeat purchases, and 40% increase in average order value.
- Digital Banking Solutions White-label digital banking technology platform providing financial institutions with digital account opening, facial recognition E-KYC, digital lending management, smart deposits, fund management, remote debit/credit card activation, account capabilities, payment services, and digital marketing tools. Processing capacity of 5 million transactions per day at 600 transactions per second.
- Pinjaman BPKB (Vehicle-Backed Loan) Vehicle registration (BPKB) backed loan product offering loans up to Rp2 billion with tenors up to 48 months. Features quick processing with online form submission, asset survey and validation, and same-day fund disbursement upon approval. Requires BPKB, STNK, applicant KTP, and family card for cars.
- Dana Cicil (Installment Loan) Installment loan product with loan amounts ranging from Rp2,500,000 to Rp15,000,000 and tenors of 3-12 months. Features flexible tenor options, easy credit application in 3 minutes, and transactions supervised by OJK (Financial Services Authority). Daily interest rate starting at 0.03% (approximately 3% monthly).
- Pinjaman Tunai (Cash Loan) Cash loan product with amounts from Rp600,000 to Rp7,000,000 and 1-3 month tenors. Features 0.03% daily interest rate, loan limits up to Rp7 million, and approval within 3 minutes.
- Akulaku E-Commerce Marketplace E-commerce marketplace platform where merchants open stores with 0% commission for the first period, advertising support, and special incubation services. Commission starts from 1%, with traffic support and promotion subsidies for qualified merchants. Over 90,000 merchants selling on the platform.
- Asetku (Online Wealth Management) Online wealth management platform providing digital investment services to consumers, expanding Akulaku's financial ecosystem to include investment and wealth management offerings.
- Bank Neo Commerce (Neobank) Digital mobile bank providing digital banking services including deposits, payments, and other banking functionality. Part of Akulaku's digital banking ecosystem, recognized as one of the best banks in the world in 2022.
- Akulaku PayLater In-Store (Offline BNPL) In-store BNPL payment solution allowing users to make purchases at offline retail locations using QR code scanning. Users scan merchant QR codes through the Akulaku app, select installment tenors from 6-12 months, and complete transactions with 0% down payment.
Quantifiable outcome
- 30% increase in new customers for merchants using Akulaku PayLater
- +5 more outcomes
Companies that use Akulaku Group
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
Akulaku Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability9 records
Feature8 records
Akulaku Group partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- Indonesian National Zakat Agency (BAZNAS RI)minorCSR partnership for disaster relief distribution. Akulaku distributed Rp200 million in aid to Sumatra flood disaster survivors through BAZNAS coordination. Also collaborated on Ramadhan Blessings program and corporate alms distribution.
- Mitsubishi UFJ Financial Group (MUFG) - MODE EcosystemcoreAkulaku participated in third MUFG Fintech Festival as part of Openly-Connected Digital Ecosystem (MODE). CTO Gordon Hu joined panel on AI-driven credit monitoring. Collaboration with MUFG's 200+ partners and affiliates in MODE ecosystem.
- Wuling Finance (PT SGMW Multifinance Indonesia)coreStrategic partnership marking Akulaku's expansion into automotive and heavy equipment financing sectors. Collaboration enables both companies to provide diverse automotive financing services. Wuling Finance brings extensive automotive sector experience while Akulaku provides digital financing capabilities.
Scale indicators10 records
Recent moves9 records
Expansion highlights7 records
Akulaku Group competitors and assessment
Company assessmentDirect peers
- Kredivo: Indonesia-headquartered BNPL and digital lending platform serving underbanked consumers; offers instant credit, PayLater at checkout, and personal loans through similar merchant and bank partnerships — the closest 1:1 competitor to Akulaku PayLater in Indonesia.
- Atome: Pan-Southeast Asian BNPL provider offering interest-free installment payments at online and offline merchants across Indonesia, Singapore, Malaysia, Philippines, Vietnam, Thailand — directly competes with Akulaku PayLater in multiple overlapping markets.
- BillEase: Philippines-focused BNPL and consumer lending fintech offering installment payments and cash loans to underbanked Filipinos; directly overlaps Akulaku's Philippine operations and target customer base.
Broad incumbents
- GoTo / GoPayLater (GoFin): Indonesia's largest super-app ecosystem including Gojek, Tokopedia, and GoPay; offers GoPayLater BNPL integrated into its dominant ride-hailing and commerce platforms, creating structural distribution advantages over standalone BNPL players.
- Shopee / SeaMoney (SPayLater): Sea Group's e-commerce platform in Southeast Asia with embedded SPayLater BNPL product; competes with Akulaku both as a destination merchant and as a vertically integrated BNPL provider reaching similar demographics.
- OVO: One of Indonesia's largest e-wallets, part of the Lippo/Libra conglomerate and integrated with Grab; offers paylater and credit products within its payments app, competing with Akulaku for underbanked Indonesian consumers' digital financial activity.
- DANA Indonesia: Major Indonesian e-wallet with national QRIS interoperability and embedded financial services; increasingly competing with Akulaku in consumer credit and digital banking given its massive distribution through merchant network.
- Grab Financial Group (GrabFin / GrabPay PayLater): Super-app with payments, lending, and insurance across Southeast Asia; offers Grab PayLater and cash loans embedded in the Grab app, competing with Akulaku particularly in Malaysia, Singapore, Philippines, and Indonesia.
- Home Credit: Global consumer finance provider operating across Indonesia, Philippines, Vietnam, and other SEA markets with installment loans and POS financing; overlapping with Akulaku's multi-country consumer credit business, particularly for durable goods financing.
Emerging players
- LazPayLater (Lazada): Embedded BNPL product within Lazada e-commerce platform owned by Alibaba; directly comparable to Akulaku PayLater in BNPL economics and merchant integration model, though more limited to Lazada's marketplace.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Akulaku Group social profiles
Digital presenceAkulaku Group compliance and trust
Trust signalCompliance2 records
Akulaku Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Akulaku Group leadership team
Management profileNumber of profiles
Profiles11 records
Akulaku Group subsidiaries and ownership
Company hierarchySubsidiaries4 records
Akulaku Group funding detail
Funding detailFunding overview
Funding rounds12 records
Investors19 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Akulaku Group M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Akulaku Group
What does Akulaku Group do?
Akulaku Group is a Southeast Asian digital finance platform that offers Buy Now Pay Later (BNPL), installment and cash loans, vehicle-backed loans, and white-label digital banking infrastructure. Through the Akulaku mobile app and embedded integrations with merchants and payment gateways, consumers access credit, installment shopping, and digital banking; merchants and financial institutions integrate Akulaku PayLater and Digital Banking Solutions technology via API.
Is Akulaku Group a public or private company?
Akulaku Group is a private company. It is classified as venture growth investor backed and is currently operating.
When was Akulaku Group founded?
Akulaku Group was founded in 2014. It employs 1,001 to 5,000 people.
Where is Akulaku Group based?
Akulaku Group is headquartered in Jakarta, Indonesia, in the Asia region.
How does Akulaku Group make money?
Five revenue lines are on record. Buy Now Pay Later (BNPL) Transaction Fees are the primary driver. The others are digital Lending Interest, digital Banking Services, BPKB Vehicle Loan Processing and E-commerce Marketplace Commission.
Who are Akulaku Group's main competitors?
Direct peers on record are Kredivo, Atome and BillEase. Broad incumbents are GoTo / GoPayLater (GoFin), Shopee / SeaMoney (SPayLater), OVO, DANA Indonesia, Grab Financial Group (GrabFin / GrabPay PayLater) and Home Credit. LazPayLater (Lazada) is listed as an emerging player.
Does Akulaku Group have an API?
Yes. Akulaku provides API integration for merchants to connect to Akulaku PayLater. The API integration enables merchants to process payments via Akulaku PayLater with connection typically completed within 1 week for direct API connections. Additionally, Akulaku operates developer.akulaku.com domain indicating developer-facing API infrastructure. Merchants can also connect through payment gateway partnerships (Midtrans, Faspay, NICEPAY, iPaymu) where PayLater can be activated within 1 business day if already using compatible gateways. Developer documentation is at developer.akulaku.com.
What industry is Akulaku Group in?
Akulaku Group's product category is Digital Consumer Finance. Its primary akta.pro industry code is FSAKACAA, Merchant-Integrated BNPL (Online Checkout), with a secondary code of BPAMAFAG, Buy Now, Pay Later (BNPL) Platforms. Its NAICS code is 52222 and its SIC code is 6141.