Asia | August 1, 2017

Indonesian peer-to-peer lending startup Julo raises seed round

The team at


More than 60% of Indonesia’s 260 million people don’t have a bank account.

Julo’s mobile platform connects under- and unbanked people with institutional lenders to obtain unsecured personal loans.

Like other peer-to-peer lending platforms and financial services for underserved customers, Julo uses non-standard data to assess creditworthiness.

With a large population at the base of the financial pyramid and low access to consumer credit, “Indonesia is the perfect seedbed for the right-minded fintech lending company to flourish,” says founder Adrianus Hitijahubessy, who developed artificial intelligence-driven credit scoring processes in Silicon Valley.

Julo, founded in 2014, wants to reach 10,000 users in the next year, up from “thousands” today.

The size of the financing was not announced; it included Singapore-based venture capital firm East Ventures, tech fund Skystar Capital and Indonesian venture capital firm Convergence Ventures.