JULO Secures Financial License,
Joining Exclusive List

Jakarta, May 29, 2020 - Amid the ongoing trend of illegal fintech companies suspended during the COVID-19 pandemic, a local lending peer-to-peer (P2P) financial technology company, PT JULO Teknologi Finansial (JULO) has officially been granted a business license by the Financial Services Authority (OJK). Previously, JULO, established in 2016, operated as a registered and supervised financial technology company by OJK.

By April 2020, only 25 P2P lending fintech companies had been granted a business license by OJK (out of 161 registered companies), while the growth in loans distributed by fintech companies surged by 208.83% year-on-year reaching Rp100 trillion in the first quarter of 2020. It is essential that the progress of Indonesian fintech industry supported with the growth of licensed fintech players to fairly serve underbank customers, eventually drives Indonesia’ economy.

With the status upgrade to a company with the official permit, JULO will continue to serve and create innovation for the underbanked. CEO & Co-Founder Adrianus Hitijahubessy says that the licensing achievement is an endorsement of the whole team’s work and JULO’s mission in supporting financial inclusion across Indonesia.

JULO’s application has been downloaded by more than 1 million users and has received the international standard certification for information security management systems (ISO 9001). JULO is committed to helping underbanked people with limited access to financial services by providing responsibly-priced loans more customer-friendly than other online lending companies, with an ethical debt collection process based on regulations and ethics.

JULO is grateful for OJK’s trust in providing a permanent operational permit. As a licensed fintech company, JULO will continue to provide the best for its customers while supporting the government to drive financial inclusion. “We still have a long way to go. Hopefully, with the new trust, JULO can provide better services to customers, have rapid growth, and create innovation,” said Adrianus.

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About JULO

JULO is a digital lending company that is revolutionizing access to financial products for millions of emerging consumers in Indonesia. The Company has developed the first digital data-driven credit underwriting and risk assessment platform to process consumer loan applications and determine their creditworthiness using its mobile app.

Founded at the end of 2016, JULO has expanded nationwide. JULO is based in Jakarta and is backed by leading venture capital firms. JULO has officially licensed as a lending service provider under OJK circulation No KEP-16/D.05/2020 on 19 May 2020.

JULO has been downloaded by more than 1 million users and distributed loans to hundred thousands of customers. JULO has won several awards namely; Winner Indonesia Fintech Festival (2016), Winner UN Fintech Challenge (2018), and Winner of Inclusive Fintech 50 (2019). For more information, please visit https://www.julo.co.id