JAKARTA - Peer-to-peer lending from Indonesia, PT Julo Financial Technology (JULO) has secured a series A funding led by Quona Capital. In this funding round, participating companies included Skystar Capital, East Ventures, Provident Capital, Gobi Partners, and Convergence Ventures.
As an information, Julo managed to secure funding of US$ 10 million. These funds will be used by Julo to develop the business and provide the best service to customers.
"With this funding, JULO will focus on developing the overall business by expanding the team and continuously improving the quality of JULO credit score system. We will also continue to focus on helping the government to encourage financial inclusion and continue to provide the best for our customers," said JULO CEO & Founder Adrianus Hitijahubessy in a release.
JULO offers loans of up to Rp 8 million which can be repaid by customers for up to 6 months with interest in the range of 3%-4% per month. To date, JULO has channeled more than Rp 400 Billion in funds to more than 100,000 customers. (LM)