Akseleran launches mobile app
By Yunnie Marzuki September 28, 2018
- Has a minimum ticket size of US$ 5,000
- Disbursed US$ 7.7 million in funds to 250 SMEs
INDONESIAN peer-to-peer (P2P) lending platform Akseleran, which provides financing access to mid-size SMEs, launched its mobile app after operating on a web-based format since October 2017.
Akseleran chief executive officer and co-founder Ivan Nikolas Tambunan says that the app will ease access to financial services for its users.
The mobile app is now available on Android and will be available on iOS in November 2018. It achieved 2,000 downloads within a week of its launch.
To date, Akseleran has disbursed 115 billion rupiah (US$ 7.7 million) to 250 mid-size SMEs from 25,000 individual lenders and financial institutions such as Indosurya, Andalan, and Global Indo.
“Now we are focusing on serving SMEs that require additional capital in large amounts, which is above 50 million rupiah (US$3,300) for online merchants and 75 million rupiah (US 5,000) to two billion rupiah (US$134,000) for conventional businesses such as oil and gas, constructions, and real estate.”
These SMEs can use invoices, contracts, or goods (retail and distributors) as collateral. Ninety percent of Akseleran’s users are existing users.
“Because we do not require fixed assets as collateral, and target mid-size SMEs to lower the risk, we are able to maintain our market and expect to reach 40,000 SMEs and 500 lenders by the end of this year.”
It will take approximately three to five working days to process new users and one day for existing users with a tenor of four to six months.
Lenders are able to invest starting from a minimum amount of 100,000 rupiah (US$ 6.70) with a return rate from 18% to 21% per year, and an NPL of 0.47%.
Ivan says that Akseleran reaches out to SMEs via digital and conventional marketing, direct selling through relationship managers as well as collaboration with partners such as e-commerce platforms and supply chain.
The company will continue to collaborate with partners such as Bukalapak, TanamDuit (platform for mutual funds), Jurnal (invoicing provider), Moka (POS system provider), and Indonesian Young Entrepreneurs Association for Greater Jakarta (Hipmi Jaya).
He also aims for the company will disburse 200 billion rupiah (US$ 13.4 million) by the end of 2018 with a monthly growth of 10% to 20% in the last three months. The company generates revenue based on provisions which is 3% per year.
Akseleran received US$1.85 million in Pre-Series A funding from a listed company Bintraco Dharma Tbk, New York-based family businesses, and several angel investors in June 2018. The funds are allocated for expansions in terms of operations and talent.
“We are planning to raise US$5 million to US$10 million of Series A in December 2018, and now we are in talks with local and foreign investors.”
Akseleran now operates in the JaBoDeTaBek area and West Java. It plans to expand to other locations within and outside Java.