Former Grab Exec Mehrotra Leads JULO to Profitability, Eyes IPO Plans

Former Grab Exec Mehrotra Leads JULO to Profitability, Eyes IPO Plans

by February 26, 2024

JULO, an Indonesian fintech offering digital peer-to-peer lending, has announced it reached an annual recurring revenue surpassing US$120 million in 2023.

The company also reported a 50% increase in its loan disbursement volume for the year, alongside achieving operational profitability by December 2023.

Supported by AC Ventures, Credit Saison, Quona Capital, and Saratoga, JULO aims to make financial services more accessible in Indonesia.

JULO’s credit underwriting process, which uses comprehensive behavioral data, has enabled the successful launch of virtual credit card products designed for the middle-income demographic in Indonesia.

In 2023, JULO saw a 73% rise in its revenue and disbursed over US$454 million in loans, totaling approximately US$1 billion in disbursements since its inception in 2016. The company has a retention rate of over 70% per cohort, contributing to reduced loan acquisition costs and increased efficiency.

JULO’s expansion includes partnerships with major financial entities like Credit Saison, Bank Sampoerna, and Superbank, enhancing its reach to the middle-income market in Indonesia.

Ankur Mehrotra

Ankur Mehrotra

Ankur Mehrotra, JULO’s Group President said,

“Our key financial goal is to generate sustainable profitability for our shareholders and provide a liquidity event such as an IPO down the road.


We believe that we are on the right track as we optimise our core product, manage our risk efficiently through continued investment and attention to risk management, and further diversify our product portfolio, ultimately becoming a fully integrated financial service platform.”