P2P lender Julo snags US$ 10 million in Series A2 funding

24 September 2019 11:28

JAKARTA - P2P lending startup Julo has pocketed US$ 10 million in a Series A2 funding round led by Quona Capital. Other investors participating in the round were Convergence Ventures, East Ventures, Gobi Partners, Provident Capital, and Skystar Capital.

In total, the startup has raised US$ 15 million in its Series A round, having previously secured an undisclosed amount of seed funding from Convergence Ventures, East Ventures, and Skystar Capital.

“Using these proceeds, Julo will focus on developing the business by expanding the team and continue to improve the quality of the company’s credit scoring system,” said Julo CEO and co-founder Adrianus Hitijahubessy in an official statement, Friday (20/9).

“We will also continue to focus on assisting the government in encouraging financial inclusion and continuing to provide the best for customers.”

The startup, which was established in 2016, offers loans of up to Rp 8 million at a 3%-4% monthly interest rate. It claims to have channeled over Rp 400 billion in cumulative loans to more than 100,000 customers. (MS)

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