Akulaku Completes Settlement of Outstanding Obligations to Mintos Ahead of Schedule

Last Friday, Akulaku has settled all outstanding loan obligations to Mintos, a European online peer-to-peer marketplace for loan investments, ahead of a previously agreed-upon schedule.

In 2020, Akulaku and Mintos reached a series of agreements to restructure Akulaku’s outstanding loan principal and interest repayments due to uncertainty around COVID-19’s economic impact on Southeast Asia. According to those agreements, Akulaku would repay all existing obligations by the end of 2021. In light of a robust recovery of businesses in Akulaku’s core markets, as well as a strong operating performance in the last several quarters, Akulaku accelerated the repayment schedule and repaid all obligations six months ahead of schedule.?

“COVID was a shock to most businesses around the world, including ours, but we assessed, adjusted and executed upon our core vision of simplifying access to banking products and addressing the unmet financial needs of consumers throughout Southeast Asia. I’ve been inspired by how the Akulaku team rose to the many challenges we faced in 2020 to emerge stronger than ever before,” said Akulaku CEO William Li.?

(Minto's press release could be referred to via this link:

https://www.mintos.com/blog/mintos-fully-recovers-investors-funds-from-akulaku-6-months-ahead-of-schedule/)

About Akulaku?

Akulaku is a leading banking and digital finance platform in Southeast Asia, with a presence in Indonesia, the Philippines, Vietnam and Malaysia. Akulaku exists to help meet the daily financial needs of underserved customers in emerging markets through digital banking, consumer financing, digital investment and insurance brokerage services. In addition to the Akulaku virtual credit card and ecommerce platform, the company operates Asetku, an online wealth management platform, and Neo+, a mobile digital bank App backed by Bank Neo Commerce. Akulaku’s mission is to serve 50 million users across 10 countries by the year 2025.