Kredivo, a digital credit platform for retail borrowers across Indonesia, secured a debt facility of up to $100m from Victory Park Capital.
The deal – VPC’s first in Southeast Asia – will fund consumer loans for Kredivo’s borrowers in Indonesia.
The company will use the funds to grow and further diversify the funding of its loan book, all of which is third party generated.
Led by Umang Rustagi, CEO, Kredivo is a digital credit platform in Indonesia that gives customers instant credit financing for ecommerce and offline purchases, and personal loans, based on real-time decisioning. The company users can buy now and pay later with one of the lowest interest rates amongst digital credit providers in the country. Kredivo’s merchant partners benefit from instant point-of-sale financing, powered by its 2-click checkout.
The technology platform is powered exclusively by FinAccel, a Singapore headquartered financial technology company backed by investors such as Mirae Asset, Naver, Square Peg Capital, MDI Ventures, Jungle Ventures, Openspace Ventures, and GMO, among others.
It is supervised by OJK’s multi-finance division in Indonesia.
FinSMEs
24/11/2020