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Originally posted by kevin103: ↑

The people here that like to talk about growth in iou's business numbers or how good iou growth has been just makes me laugh. IOU is up against giants of the industry that talks about many hundreds of millions dollars or billions dollar transactions values. And iou is talking $400k a quarter in bnpl revenue

JAKARTA, Indonesia, April 26, 2022 /PRNewswire/ -- Akulaku ("Akulaku" or "the Company"), a leading digital banking and finance platform, today reported accelerated revenue growth during 2021, as it continues to provide financial services to consumers throughout Southeast Asia. Akulaku's total revenue grew by 122% to US$598 million and total GMV increased by 136% to US$5.8 billion. The total users grew by 242% to 26 million users, and monthly active users increased 108% to 4.8 million in 2021. This growth highlights the rising demand for Neobank's online banking services, as well as Akulaku's unique position as a rapidly expanding digital bank and service provider.
The company's 2021 performance comes on the heels of receiving $400 million in investments, including $100 million from Siam Commercial Bank. These strategic investments signal the companies' ongoing shared interest in providing high-quality fintech solutions to previously underserved communities. In separate transactions, Akulaku's bank subsidiary, Bank Neo Commerce (BNC), raised $180 million through a rights issue transaction on the Indonesia Stock Exchange, bringing BNC's market capitalization up to approximately $1.7 billion. This deal attracted successful participation from funds such as Schroders, JP Morgan Asset Management, Citibank, and CGS. With its expanding international growth, Akulaku continues to execute upon its global mission of empowering users with better, faster, and more convenient digital financial services.
Akulaku aims to serve as pioneers for the digital banking revolution in Southeast Asia and beyond. We will continue to strive towards providing our growing customer base with innovative digital financial solutions and services," said William Li, CEO of Akulaku. "We prioritize accessibility as we seek to ensure previously underserved customers have access to high-quality digital banking opportunities."

Total loan disbursement in 2021 exceeded US$2.2Bn, nearly doubling the Company's BNPL and cash loan volume year on year, while cash installment volumes more than tripled from 2020. The share of non-performing loans over 90 days was a mere 6.3%, a lower figure than pre-COVID pandemic levels.

Akulaku's digital
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Akulaku is an interesting case study. It's been operating since 2016 and has tie-ins with Europe. It's business (particularly BNPL) doubled during Covid. As stated in the article you posted, the company has only 6.3% of non-performing loans. Is this cultural then? Does this signify good things for IOU going forward?

IOU can be easily criticized because it's publicly traded and all metrics can be put under a microscope. Akulaku being private does not have to show everything. For example, Akulaku has 900+ employees, what does that equate to in admin costs? Akulaku has raised $400m+ since 2016 what kind of dilution would that mean for shareholders?

It's privately valued at nearly $2b. The funny thing about valuations of private companies is that when they do intend to list publicly the valuations rarely standup. A good example of this is WeWork. Akulaku has a subsidiary that is publicly listed and has the ability to raise capital through the subsidiary so it's unlikely that we'll ever see Akulaku attempt to become public. Given the valuations of BNPL companies that are publicly traded, how much do you believe Akulaku would be valued at? I dare say it would be significantly less than $2b.