Indonesian lender Akseleran reportedly raises USD 8.5 million

The startup is currently awaiting regulatory approval before making an official announcement.

Photo by Sabine Peters on Unsplash

Indonesian peer-to-peer lending platform Akseleran has reportedly raised USD 8.5 million in a Series A funding round involving a number of investors, including Access Ventures. The news was first reported by DealStreetAsia on Monday.

Responding to KrASIA’s query, Akseleran did not deny the claim, although the company did not reveal additional details regarding the investment. “We’ll comment in the coming November as we are currently waiting for approval from the financial services authority (OJK),” Akseleran’s representative told KrASIA.

However, the company has already updated its profile on Crunchbase to reflect that it raised funds on September 23, 2019.

Akseleran provides capital loans to small and medium enterprises (SMEs) with competitive interest rates and flexibility in loan tenure, payment models, and equity participation.

The startup has been showing positive growth in the past year. It channels approximately IDR 70 billion (USD 4.9 million) in loans each month and the company aims to disburse IDR 1 trillion by the end of this year. Akseleran also said that it has supported nearly 2,000 SMEs with its loan so far, with a rate of return of 98.26%.

The startup raised USD 2.5 million in its pre-Series A funding round from undisclosed banks and investors in February 2019. At the time, Akseleran’s CEO Ivan Tambunan said that the company aimed to bag at least USD 7.5 million for its Series A round this year.