Akulaku has raised $200 million from a Japanese bank. The investment is part of a plan to expand into new markets and products. Akulaku raised $100 million in funding from Siam Commercial Bank. Akulaku has a partnership with the Ant Group.
Akulaku, which operates in the Philippines and Malaysia, has an investment platform and neobank. Its goal is to serve 50 million users in the next ten years.
Akulaku has agreed to work withMUFG companies in Southeast on tech, product development, financing and distribution. The Philippines and Indonesian units of Home Credit were purchased by MUFG earlier this year. Its focus on Southeast Asia is due to the fact that many banks in the region have gained on MUFG in the market cap.
Kenichi Yamato is the managing executive officer and chief executive of the Global Commercial Banking Business Unit. Our investment in Akulaku will further solidify our commitment to this region.
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