Credit Saison-backed JULO launches instant digital credit in Indonesia

JULO is a leading fintech company that is enabling access to financial products for millions of emerging consumers in Indonesia. The company is one of the first to develop a digital data-driven credit underwriting and risk assessment platform to process consumer credit applications and determine their creditworthiness using its mobile app.

Founded in 2016, JULO has expanded nationwide. JULO is based in Jakarta and is backed by leading investors including Credit Saison, Skystar Capital, Saratoga Investama, East Ventures, Quona Capital, Central Capital Ventura, MDI Ventures, Gobi Partners and others.

JULO has been downloaded more than 10 million times and has facilitated credit access to more than 1 million of customers, with total lifetime disbursement amounting to 725 million USD. 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).

JULO Turbo

JULO has recently launched JULO Turbo, an innovative instant virtual credit card product that provides a digital credit limit in just 5 minutes. A unique reengineered onboarding process leveraging digitalized verification, AI based credit scoring, big data and advanced analytics allows customers to get and to start using their virtual credit card within minutes after downloading the JULO app.

Being the 4th largest nation in terms of population, Indonesia faces challenges related to a high underbanked population coupled with low credit card penetration which is estimated at just 6 %. JULO Turbo aims to bridge these challenges.

JULO Turbo can be accessed through any smartphone across Indonesia and provides a whole range of transaction options including bank transfers, e-wallet top ups, e-commerce payments, utility bill payments, phone credit top-ups and train ticket bookings. JULO has also added an innovative education feature that allows customers to finance any education expense across any school, college or university nationwide with the aim of ensuring uninterrupted access to education for JULO’s valued customers.

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