The demand for digital banking and credit services is growing globally as previously underserved regions embrace fintech opportunities.
Akulaku Finance Indonesia announced a recorded profit increase of 450% in 2021. Driven by the surge in online shopping during the pandemic, the company’s increase in profits is an indication of the acceleration of digital banking in Southeast Asia. 2021 was a tremendous year of expansion and development for Akulaku Finance Indonesia with substantial gains across all financial services. Based on its financial report published on Thursday, July 14th, the company recorded a profit for 2021 of Rp 51.1 billion, compared to Rp 9.29 billion in 2020.
“Akulaku recently celebrated its 6th anniversary, and this growth demonstrates our progress towards our aim of expanding non-traditional financial services to reach across Southeast Asia,” said company CFO Fan Zhang.
The profit growth was driven by an increase in the company’s income from consumer financing. Akulaku Finance noted that the funds obtained from consumer financing reached Rp 921.05 billion, an increase of 72%. The company’s recently launched Akulaku Buy Now Pay Later platform has grown rapidly, as people throughout Southeast Asia embrace fintech solutions for their investments, savings, and credit needs.
The successful year wasn’t just limited to digital financial services. Akulaku Finance’s total assets also increased throughout 2021. The company’s assets amounted to Rp. 1.36 trillion, a substantial jump from the previous Rp. 981.15 billion. Overall, this profit increase reflects the clear consumer demand for Akulaku’s services and reinforces Akulaku’s goal of building a fully digital financial ecosystem in Southeast Asia.