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.