Akulaku, a Jakarta, Indonesia-based fintech startup, raised US$70M in Series C funding.
The round was led by Fanpujinke Group with participation from Sequoia India, BlueSky Venture Capital, and Qiming Venture Capital.
The company intends to use the funds to strengthen its market presence in Southeast Asia and launch new financial services and.
Led by Li Wenbo, CEO, Akulaku is a fintech company focused on providing underserved people with financial services including online installment shopping mall whers users can buy every items on installment, even without a credit card
The company is currently active in Indonesia, Philippines and Vietnam.
China Renaissance Group acted as the exclusive financial advisor for this round.