SEA Deal Ticker
Breakeven since 2023 and US$1.7 billion lent: why does Indonesia's JULO still raise from Saratoga?
Saratoga, the Jakarta-listed investment house, led an undisclosed round in JULO, an Indonesian cash-loan app, with Saison Capital, Quona Capital and Skystar Capital. JULO has lent US$1.7 billion since 2016 and will spend this on underwriting and data systems.
Positive-sum angle: Saratoga is paying for credit scoring, not customer growth, in a lender that already breaks even. Anyone selling fraud, income-verification or collections tooling to Indonesian lenders has a buyer with fresh budget.