Indonesian online lender Akulaku reports over 150% rise in H1 revenue

Akulaku, an Indonesia-based Fintech firm, posted over a 150% rise in revenue for the first half of the year (H1 2021), bolstered by a swift recovery in its alternative credit business following a hit from the Covid-19 pandemic.

The company’s revenue stood at US$274 million in H1 2021. The fintech firm expects that figure to grow by over 2.5x by the end of the year to hit the US$600 million mark. However, details regarding the company’s bottom line remain undisclosed.

As a result, the company’s total disbursed loans also grew more than 2x to about US$1 billion during the first half of 2021. Akulaku expects this figure to reach US$2.3 billion by the end of the year. In the first half of the year, Akulaku’s user base grew by 93% from a year ago to a total of 7 million monthly active users. It expects an additional 5.5 million monthly active users to come aboard its platform by the end of 2021.