Indonesian P2P lender Julo bags $80m from Japan's Credit Saison
Summary
Indonesian peer-to-peer (P2P) lending firm Julo has bagged $80 million from the Japanese financial company Credit Saison. Julo was established in 2017 by Adrianus Hitijahubessy and Hans Sebastian to connect institutional lenders with borrowers through its app. “Julo has a commitment to empowering Indonesian people as 72% of credit applications are used for activities that improve their lives such as for business capital, renovating homes, and for education. By partnering with Credit Saison, we have the opportunity to reach out to more underserved communities in every province of Indonesia,” said Julo CEO Adrianus Hitijahubessy in a statement. Other recent deals in this space in Indonesia include Investree’s $10 million from Swiss asset manager responsAbility and Accial Capital in October last year.