What is Akulaku?
AKULaku is an installment shopping e-commerce platform that focuses on overseas markets. Its services include online shopping and installment payments. Its products are currently available in Malaysia, Indonesia, the Philippines and other regions. Committed to providing convenient consumer financial services to users in South Asia and Southeast Asia. The number of downloads of Akulaku APP has reached nearly 20 million, with more than 13 million registered users, more than 1 million new users per month, and a monthly transaction volume of nearly US$100 million, with the absolute transaction volume increasing by more than 3 times.
-In 2016, Li Wenbo founded Akulaku.
-In March 2016, Akulaku announced the completion of its angel round of financing of US$10 million, with investors including IDG Capital and DCM.
-In December 2017, Akulaku completed a strategic financing of US$80 million from investors including China Chuang Capital, Welight Capital, Arbor Ventures, etc.
-In October 2018, Akulaku completed its Series C financing of US$70 million from investors including Qiming Venture Partners, Sequoia Capital and Vanguard.
-In October 2018, Indonesian e-commerce company Bukalapak and Akulaku jointly launched an installment payment service without a credit card.
-In January 2018, Akulaku announced the completion of a USD 100 million Series D financing round, with Ant Financial (Alibaba) as the investor.
What are the features of Akulaku?
1. Akulaku started out as a virtual credit card company, and then began to build its own e-commerce platform, focusing on "retaining users with scenarios". Its platform is mainly 3C products, with its own mobile phones, as well as home appliances, clothing, toys, beauty products and other products. It also has third-party suppliers, with more than 3 million SKUs. Its financial products are similar to JD Baitiao or virtual credit cards in China, and users can calculate the installment fees directly on the purchase page.
2. Akulaku is a platform that provides consumer installment loan services to users in Southeast Asian countries. Its founder, Li Wenbo, said that "Akulaku" means "the goods are sold out" in Indonesian.
From the outbreak of the epidemic last year to now, the number of people doing business overseas, engaging in cross-border e-commerce, and foreign trade has increased significantly.
The scale of China's cross-border e-commerce transactions has continued to rise in recent years. According to the data from the General Administration of Customs, my country's cross-border e-commerce imports and exports reached 1.69 trillion yuan in 2018, an increase of 31.1%, of which exports reached 1.12 trillion yuan, an increase of 40.1%.
Because the home life caused by the epidemic has led to a rapid expansion of online channels in the demand for the home economy, more and more overseas consumers are accustomed to e-commerce shopping. Amazon, eBay, and the Brazilian e-commerce market have all seen a surge in users, and online consumption has achieved "irreversible penetration."
What is certain is that brand expansion overseas is an inevitable trend. At this historic juncture, cross-border e-commerce will usher in new opportunities.
In this process, logistics and payment play a crucial role. According to relevant cross-border e-commerce merchant survey feedback, the speed of withdrawal is very important. In the past, the overall collection cycle was at least 3 to 4 months. If the withdrawal is late by one day, the impact on the seller may be "immeasurable."
In order to solve the pain point of sellers having difficulty and slow withdrawal, Airwallex stands out and enables cross-border payment collection and withdrawal with a fee as low as 0, and the funds are credited to the account within the same day. Airwalex payment account registration portal: https://channel.airwallex.com/q1a?utm_source=a116F00000FNDtsQAH
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