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Thailand's Siam Commercial Bank invests USD100m in fintech startup Akulaku

Siam Commercial Bank, Thailand's leading full-service bank, has made a USD100m strategic investment in Indonesia's Akulaku, one of Southeast Asia's top digital banking and finance platforms. Siam Commercial's investment marks its continued commitment and strong belief in the long-term prospects of Indonesia as one of the fastest-growing digital economies in the region, according to the bank's president, Arak Sutivong. Akulaku, founded in 2016, has grown to become the largest BNPL and consumer financing platform in Indonesia. In 2021, the company disbursed over USD2.2bn of credit to over 6 million users. The company's bank subsidiary, Bank Neo Commerce, is now the fastest-growing digital bank in Indonesia with over 13 million users.


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