What is Akulaku? Akulaku Review

introduce

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. There are also 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 directly calculate the installment fees on the purchase page.

Introduction of important figures

Li Wenbo, founder and CEO of Akulaku, worked at King & Woods (Beijing King & Wood Law Firm), focusing on corporate mergers and acquisitions and venture capital; later worked at Ping An Trust's direct investment department, focusing on additional issuance and acquisition projects in the primary and secondary markets.

Hu Bo, Akulaku CTO. With more than 12 years of technical experience, he has worked in Oracle, Tencent, Huatai United Securities and CITIC Securities, engaged in system design and development, including algorithmic trading, QFII and other business lines, futures and cash arbitrage, cross-period, tiered fund arbitrage, ETF market making and other system design and development.

develop

In October 2018, Indonesian e-commerce company Bukalapak and Akulaku jointly launched an installment payment service without a credit card.

Financing

In May 2014, it received seed round financing, the specific amount of which was not disclosed.

In March 2015, it received angel round financing, the specific amount of which was not disclosed.

In March 2016, Akulaku completed its angel round of financing with an amount of US$10 million, and the investors included IDG Capital and DCM.

In December 2017, Akulaku completed a strategic investment of US$80 million. The investors included China Chuang Capital, Welight Capital, Arbor Ventures, Eight Roads Ventures, DCM Ventures, and IDG Capital.

In October 2018, Akulaku, a consumer finance brand going global, announced the completion of a US$70 million Series C financing round led by Fanpu Financial Group, followed by Sequoia India, BlueSky Venture Capital, Qiming Venture Partners and other institutions.

In January 2019, Akulaku completed its Series D financing of US$100 million, with Ant Financial (Alibaba) as the investor.

References

• 1. Akulaku’s financing situation: Chuangyebang [cited on 2019-01-31]