JULO sees revenue of $120 Million!
JULO, a leading digital financial services platform dedicated to financial inclusion for the underbanked in Indonesia, announces it has achieved a remarkable annual recurring revenue of over US$120 million, with its total loan disbursement experiencing a 50% growth in 2023.
The milestone comes alongside the company reporting operating profit breakeven in December 2023, underscoring its sustainable business model and operational efficiency.
● Backed by investors such as AC Ventures, Credit Saison, Quona Capital, and Saratoga, JULO was founded with the vision to democratize financial services in Indonesia.
● Since 2016, JULO has dispersed more than US$1 billion, US$454 million of which took place in 2023, indicating a near 50% growth of its loan disbursement compared to 2022. The company notched up a 73% increase in revenue in 2023.
● It also reports a remarkable 70%+ retention rate per cohort, dramatically reducing loan acquisition costs and enhancing operational efficiency.
● The company’s model continues to draw in top-tier financial institutions, including global entities like Credit Saison and also local giants Bank Sampoerna and Superbank, to empower disbursements to the middle- and lower-middle-income segments.
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Nonetheless, it is highly expected that an intermittent correction may emerge anytime soon
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