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P2P lending firm Akseleran aims to raise Rp 359b through IPO
Akseleran plans to use some of its IPO proceeds to acquire local multifinance firm PT Pratama Interdana Finance.
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Akseleran CEO and cofounder Ivan Tambunan (center) speaks at a press conference about the company's performance and plans in Jakarta in January 2020. (Akseleran/Akseleran)
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T Akselerasi Usaha Indonesia, the parent company of peer-to-peer (P2P) lending platform Akseleran, has embarked on a process to get listed on Indonesia Stock Exchange (IDX) on Aug. 9.
Set to sell almost 3 billion shares, 29 percent of the total, at a price between Rp 100 and Rp 120, the firm is hoping to raise almost Rp 359 billion (US$23.87 million) through the initial public offering (IPO).
Akseleran was established in 2017 by Ivan Tambunan, Mikhail Tambunan, Christopher Gultom and Rassel Pratomo. It operates as a digital platform that connects borrowers and lenders. The Financial Services Authority (OJK) granted it an operating license in 2019.
By the end of last year, the P2P lending firm had disbursed almost Rp 6.6 trillion in loans, around 98.9 percent of which were productive loans for small and medium enterprises (SMEs) in the shape of invoice financing and online merchant loans. The other 1.1 percent were disbursed as employee loans.
Only 0.41 percent of the financing has been categorized as nonperforming loans (NPL), which is far below the OJK's 5 percent cap.
Read also: With the banks' growing role, is P2P still peer-to-peer?
Akseleran counts more than 206,000 individuals as well as major banks like BCA, BRI, Bank Mandiri and OCBC NISP among its lenders.
