JULO secures funding from existing investors

By Milan Rojan

Indonesian digital lender JULO has reportedly raised up to $5 million from existing investors as the FinTech company continues to expand its digital revolving credit platform and prepares for a potential larger fundraising round.

According to reports, the funding round has included participation from existing backers such as Credit Saison, Quona Capital, Skystar Capital and East Ventures. The financing has reportedly been completed in recent months, although JULO has not commented on the details of the fundraising.

The company has said that it continues to receive shareholder support and remains focused on strengthening its business fundamentals. The reported capital injection has provided additional funding support as JULO has explored a larger fundraising effort amid a more challenging venture capital environment.

Founded in 2016, JULO has operated a digital credit platform that has provided consumers with access to revolving credit for cash loans, bill payments and e-commerce transactions. The company has used proprietary credit scoring technology and machine learning capabilities to assess borrowers and expand access to digital lending services.

JULO has reported that its platform has disbursed more than 28 trillion rupiah (approximately $1.7 billion) in loans to over 3.3 million users across Indonesia since its launch. The company has also directed a portion of its lending towards micro and small businesses, supporting financial access for underserved segments.

The FinTech firm has previously worked with investment bank Evercore on potential fundraising initiatives, although the timeline and size of any future round have not been disclosed. Some early investors have also reportedly explored secondary share sale opportunities.

The latest reported funding has highlighted continued investor interest in Indonesia’s digital lending sector, where FinTech companies have focused on sustainable growth, credit innovation and expanding access to financial services.