Kredivo’s Parent Firm FinAccel Raises $90m to Expand Its Credit Lending Platform in Southeast Asia
By Manish Singh
Singapore-headquartered FinAccel has secured $90 million in one of the largest funding rounds for a fintech startup in Southeast Asia as it looks to further grow its credit lending app Kredivo and build more financial services.
The financing round, dubbed Series C, for the three-and-a-half-year-old startup was jointly led by Asia Growth Fund — a joint venture between Mirae Asset and Naver — and Square Peg.
Singtel Innov8, TMI (Telkomsel Indonesia), Cathay Innovation, Kejora-InterVest, Mirae Asset Securities, Reinventure and DST Partners participated in the “oversubscribed” financing round, the startup said.
Photo courtesy of lau rey.