Akulaku, which operates in the Philippines and Malaysia in addition to Indoensia, offers a virtual credit card and installment shopping platform, as well as an investment platform and neobank. Founded in 2016, its target is to serve 50 million users by 2025.

In a statement, Kenichi Yamato, the managing executive officer and chief executive of MUFG Bank’s Global Commercial Banking Business Unit, said “Southeast Asia is key and a second market to MUFG. Our investment in Akulaku will further solidify our commitment in this region to meet growing financial needs of underserved customers.”

Jakarta-based fintech Akulaku raises $200M from Japan’s largest bank by Catherine Shu originally published on TechCrunch