Credit Saison accelerates JULO’s ambition to re-envision
traditional cash loans in Indonesia with strategic $80M
investment
The investment marks Credit Saison’s new strategy to accelerate the momentum of high-growthcompanies via a pairing of operational support and tactical capital.
SINGAPORE, 13 APR 2022 - JULO’s digital lending business will be supercharged with fresh supportand US$80M of funding from Credit Saison to improve the credit access for Indonesians underservedby traditional lenders and BNPL (buy-now-pay-later) platforms.
This funding includes a mix of US$30M equity and US$50M debt fully funded by Credit Saison. Investors
from previous rounds include Skystar Capital, Saratoga Investama, East Ventures, QuonaCapital, Central Capital Ventura, MDI Ventures, Gobi Partners and others.

“Credit innovation requires a deep understanding of local consumer behaviours and needs in order totruly improve the financial health of all. JULO has emerged from the past few years as a resilient andCOVID-proven business with more than US$300M disbursements under its belt to date. We look forward
to joining hands with them in this next phase of growth to accelerate financial products that will drive
truly meaningful change for individuals in Southeast Asia,” said Kosuke Mori, Senior Managing
Executive Officer and Head of Global Business at Credit Saison Co., Ltd.

Mr. Kosuke Mori（Left）and Mr. Adrianus Hitijahubessy（Right）

The investment from Credit Saison is part of the company’s continuous efforts to introduce its financial
services foundation to high-growth fintechs outside of Japan via a combination of capital and close
operational partnerships. The investments mark the organisation’s next steps to accelerate its
expansion into the high-growth and promising Indonesian market.

This investment strategy builds on Credit Saison’s existing activities in emerging markets via Saison
Capital, the corporate venture capital arm with a focus on discovering startups with an opportunity tobuild embedded finance capabilities.

“JULO is already being used by Indonesians throughout their financial lives - 72% of loans are used for
improvement purposes such as business capital, home renovation and education. By joining hands withCredit Saison, we have a fresh opportunity to take this significantly further by re-envisioning what thefuture of traditional lending should look like to truly uplift the region’s most underserved,” said
Adrianus Hitijahubessy, CEO & Co-Founder of JULO.
Amidst the consolidation of peer-to-peer lenders in Indonesia, JULO has outperformed expectations,having managed a positive yield in its portfolio during the height of COVID-19 in 2020. In 2021, thetotal number of funds disbursed grew by more than three times as compared to the year prior and iscurrently on track to increase its loan book by more than five times in the next 12 months.
The fintech company is one of Indonesia’s virtual credit card pioneers. It was one of the ﬁrst to offer nationwide
digital data-driven credit underwriting and risk assessment platform to process consumer credit applications
and determine their creditworthiness through a mobile app. In 2021, JULO launched a digital credit card, which
saw 97% users utilising non-cash features to top-up e-wallets, top up phone credits, pay utility bills, and process
payments on e-commerce sites.
The investment round was structured to scale the company’s growth with a two-pronged approach.
US$30M equity will be used to advance JULO’s analytics, for product development, marketing, andcustomer acquisition plans by hiring additional talent across their developer, data scientist and businessintelligence teams. US$50M debt will be used to fuel finance loans on the platform.
Being the only corporate investor on JULO’s cap table with a global lending business, Credit Saison willplay an active role in JULO’s hyper-growth phase and provide governance direction as the companyscales. Both companies will also explore preliminary opportunities to expand into other emerging
markets together.
Currently the options for underbanked Indonesians to access credit lines include microfinanceinstitutions or BNPL facilities. Both are limiting as they require transaction-by-transaction approvals andhave narrow use cases. A key reason for this is because loans assessed by traditional credit scoringmodels typically disadvantages individuals without certain data points - like good credit history - so they
are determined as high-risk loans.
Unlike other platforms, JULO can facilitate an ongoing credit line after a simple one-time assessment
on its app. It does this by applying machine learning throughout a loan cycle and is advanced enoughto assess risk based on more than 5,000 data points for identity checks, affordability assessment,
creditworthiness, and fraud detection - all in less than three seconds. Today, more than 500,000
Indonesians use JULO actively in their daily lives to fund withdrawals, phone credit top-ups, fundtransfer, utility bill payments, e-wallet top-ups and e-commerce payments.
JULO’s team has prioritised responsible lending and collections - they were among the first fintech
lending platforms which received a full licence from Indonesia’s Financial Services Authority (OJK). JULO
also emphasises data security and holds an ISO27001 certification, an international information security
standard regulated by International Organization for Standardization (ISO) and proves JULO has
implemented best practices for information security processes to keep the management system securefrom cyber attack risks.

- END OF PRESS RELEASE -For press enquiries and requests, contact:
Rachael De Foe (rachael@rdf.co)
About Credit Saison:

Credit Saison provides digitalized and localized financial services to the underserved to realize
financial inclusion in the global market, with a prime focus in Southeast Asia and India. Since itbegan issuing credit cards in 1982, Credit Saison has grown to occupy a unique position in the creditcard industry and has over 36 million credit card holders in Japan. As a cutting-edge service business,
Credit Saison has generated a steady stream of innovative products and services that overturnconventional thinking while maintaining a consistently customer-oriented approach. Guided by its visionof becoming a Neo Finance Company in Asia, Credit Saison constantly reimagines its business model tohone its competitive edge. For more information, visit https://corporate.saisoncard.co.jp/en/
About JULO:
JULO is a digital credit company that is revolutionizing access to ﬁnancial products for millions of emerging
consumers in Indonesia. The company is one of the ﬁrst to develop digital data-driven credit underwriting andrisk assessment platform to process consumer credit applications and determine their creditworthiness using its
mobile app.
Founded at the end of 2016, JULO has expanded nationwide. JULO is based in Jakarta and is backed by leading
venture capital ﬁrms. JULO has been officially licensed as the provider under OJK circulation No KEP16/D.05/2020 on 19 May 2020. JULO has been downloaded more than 5 million times and has facilitated credit
access to hundreds of thousands of customers. JULO has won several awards namely; Winner of Indonesia
Fintech Festival (2016), Winner of UN Fintech Challenge (2018), and Winner of Inclusive Fintech 50 (2019). For
more information, visit https://www.julo.co.id