Kredivo’s Parent Firm FinAccel Raises $90m to Expand Its Credit Lending Platform in Southeast Asia

Thursday, December 5, 2019

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.

Source: TechCrunch (link opens in a new window)

Categories
Finance
Tags
emerging markets, financial services, fintech, microcredit, microlending, startups