ImpactAlpha, Sept. 25 – Jakarta-based JULO uses proprietary credit scoring technology to offer affordable, unsecured consumer loans to Indonesians. The 3-6 month loans average $300 with rates from 3% to 5% a month.
“Access to affordable personal loans on a short-term basis is often the difference between a family being able to pay for its daily needs like education, or not,” JULO’s Adrianus Hitijahubessy said in a statement.
The extension round was led by Quona Capital, a venture capital firm focused on fintech for inclusion in emerging markets. Existing investors Skystar, East Ventures, Provident, Gobi Partners and Convergence also participated.