Online credit platform Kredivo raises US$90M to expand its lending business in Indonesia

The Series C funding round was led by Asia Growth Fund and Square Peg Capital.

Ismawati Asmat

5 Dec, 2019

Online credit platform Kredivo raises US$90M to expand its lending business in Indonesia | BEAMSTART News

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Kredivo (FinAccel) will use the funding to double down on growth in the region, hire talent, and expand its range of financial services.

Kredivo’s near-term plans include the rollout of low-interest education, healthcare and Shariah loans and partnerships with banks for joint product development.

In July 2018, Kredivo raised a US$30 million Series B funding round led by Square Peg Capital, with participation from MDI Ventures and Atami Capital.

Kredivo aims to serve 10 million users in the next few years through Kredivo and other financial services.

“We have gained more than 1 million customers and our growth hits 300 percent per year,” the chief executive of FinAccel, Akshay Garg, said.

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