Akulaku has confidentially filed for an initial public offering in Hong Kong, seeking to raise between US$300 million and US$500 million, IFR reported on Tuesday, according to The Standard.

The filing marks a step up from June, when reports said Akulaku was only exploring a Hong Kong listing; some speculated a market debut as early as July, though no one confirmed it.

Founded in 2016, the Jakarta-based company runs consumer financing, e-commerce and digital banking businesses, and counts Ant Group, IDG Capital and Mitsubishi UFJ Financial Group among its investors.

Akulaku once considered a US listing before shifting its sights to Hong Kong, and was reportedly valued at US$2 billion in 2025.

Investors weighing the listing are likely to scrutinise Akulaku’s consolidated profitability, its exposure to Bank Neo Commerce, and its regulatory track record in Indonesia, according to DailySocial.

In Indonesia, Akulaku Group operates a multi-product e-commerce platform and is a major shareholder of Bank Neo Commerce, alongside running Akulaku Finance for consumer lending and Asetku for short-term cash loans.

It also operates in the Philippines, Malaysia and Thailand, including the licensed digital bank OwnBank in the Philippines.

The filing follows a working capital facility Akulaku secured from Bank Danamon in June, and comes as more Southeast Asian companies turn to Hong Kong’s IPO market to raise funds.

Malaysian civil engineering contractor BBSB International listed in Hong Kong earlier this year, while Singapore’s EKH Holdings withdrew its own Hong Kong listing plans after investors oversubscribed its retail tranche.

Featured image: Edited by Fintech News Hong Kong based on an image by rawintanpin via Magnific.

This article first appeared on Fintech News Indonesia.