On 16 April 2020, Akulaku was suspended from the Primary and Secondary Markets due to late payment settlement. At the time of suspension, the amount of Akulaku outstanding investments and pending payments on Mintos was € 20,787,453.
A series of agreements to restructure the repayments to Mintos investors were agreed at the time of suspension with weekly payments until the end of 2021. However, the macroeconomic situation in Indonesia is improving, and Akulaku has seen a robust recovery of businesses in its core market. Coupled with strong operating performance in the last several quarters, Akulaku has accelerated the repayment schedule, making it possible to fully repay Mintos investors 6 months earlier than expected.
Akulaku has recently made repayments of € 9 390 862, resulting in a 100% recovery of all amounts outstanding. Please note that the total amount recovered is larger than the amount stated at the time of suspension due to an accumulation of interest since 16 April 2020.
Established in 2016, Akulaku is a consumer finance platform in South East Asia, with a presence in Indonesia, the Philippines, Vietnam, and Malaysia. At the time of the suspension, 63 964 investors had active investments in loans issued by Akulaku, with the average investment per investor being € 259.