JULO joins Mintos. An innovative Indonesian lending company JULO, launches on Mintos and offers investors to earn up to 12.5% in interest per year for instalment loans listed in EUR.
Established in 2016 and is headquartered in Jakarta, JULO is driving financial inclusion across Indonesia, with accolades from the United Nations, Inclusive Fintech 50 and others. JULO aims to improve access to capital for the large, youthful population of Indonesia (270 million+ people) with unmet financial needs.
Through machine learning and advanced credit analytics, JULO is able to assess the creditworthiness of the population that is often overlooked by conventional institutions.
JULO is issuing instalment-based personal loans and their product offerings include cash (for tech-savvy millennials), online shopping (for social sellers, resellers), offline shopping (for factory workers, taxi drivers) as well as working capital (for small business owners).
As of the end of November 2019, JULO’s net portfolio had reached EUR 14.4 million and around 280 000 facilitated loans to more than 150 000 unique borrowers.
JULO on Mintos
On Mintos, JULO has received a “B-” Mintos Rating. All loans listed on the Mintos marketplace by PT JULO Teknologi Finansial are issued by the Indonesian company PT JULO Teknologi Perdana. The company has 10% skin-in-the-game and investors can expect to earn up to 12.5% in returns per annum. The loan amounts reaches up to 515 EUR, with the average loan amount of 215 EUR and loan term of up to 6 months.
JULO loans come with a buyback guarantee and will be repurchased if the loan is delinquent for 60 days or more. Additionally, there will be a group guarantee in place provided by JULO Holdings PTE LTD. This means, if a loan with a buyback guarantee is late for more than 60 days and the loan originator is not able to buy back the loan, the group company will have to buy it back.
“Mintos has an unparalleled reputation for connecting savvy investors with growth-stage lenders. As we advance financial inclusion in Indonesia, we rely on the support of our lending partners to enable more people to lead fulfilling lives. Facilitating these empowerment opportunities will unlock economic growth in Indonesia, and create a more inclusive world. We are optimistic that Mintos will be a valuable partner to help us achieve these ambitions.” says Adityo Haryono, the Head of Partnerships of JULO.
JULO is backed by prominent venture capitalists (VCs) and funds who share the same belief of impact investing and tech-driven solutions for financial inclusion. Operating in the world’s fourth most populous nation, Julo intends to achieve its immense growth potential and has demonstrated an ability to achieve it.
