FinAccel is all set to improved services in Southeast Asia
December 3, 2019. The Kredivo brand has increased upto$ 90 million in C Series funding to enhance its services in Indonesia, which includes another region also. The series of funding is co-sponsored with some Asian Growth Fund, which is a joint venture of Naver and Mirae Asset as well as Square Peg. This round of financing allowed the company to attract more than 200 million US dollars in the form of debt and equity financing just in 2019 from obligations provided by lenders, including banks and credit funds.
This round of FinAccel has been completed, which will further strengthen the tremendous momentum achieved by the company in recent years. It plans to utilize these funds to increase the extension in the sector that draws workers and increases financial aids to generate a financially responsible collection of clients in Indonesia and other countries of Southeast Asia. Additional investors engaging in the C Series refinancing combine Singtel Innov8.
In answer to the agreement, Akshay Garg, CEO of FinAccel, said: “We are happy that Mirae Asset, including Naver, has followed us. These entrepreneurial companies have extensive experience in financial services and large Internet industries. Kredivo is about the intersections of those two regions. Also, we have commanded that the latest investors stay in order with our idea of presenting large-scale, high-speed, affordable economic services to millions of consumers in the sector.” The accelerated expansion of economic collapses made by technology assistance, and us recognize FinAccel totality of the chief corporations in this region.
Tushar Roy, Square Peg’s partner, said: “Since last year’s investment, we have been impressed by the team’s progress, and getting reliable support is an easy decision. Focus on value and culture. We are searching for a business in the region. Targeted enterprises have achieved significant growth while improving the ecosystem
After its beginning three years ago, FinAccel produces an estimated over 3 million forms, announced about 30 million credits, including created unity of Indonesia’s most populous loan-based e-commerce pay platforms. Compatible by the aim of the Indonesian administration to gain entrance to financial aids for the country’s rapidly-growing middle class, the company aims to assist 10 million users within Kredivo. It also has new plans that include launching low-income training, medical and Islamic loans, and developing joint products with banks.
About FinAccel
FinAccel is a financial technology company specializing in providing fast and affordable financial services for under-funded people in Southeast Asia. Fully used by FinAccel, the Kredivo technology platform is Indonesia’s leading digital credit platform, which offers its customers competitive interest rates for online purchases and direct financing of personal loans. Kredivo business partners benefit from Kredivo’s payment functions, direct investment at points of sale, and high-interest rates. Payment can be made in just 0 clicks. For further data about FinAccel, including Kredivo, visit their official website to know the complete information.
Regarding Asian Growth Fund
The Asian Mirae Asset-Naver Growth Fund (“AGF”) is a collective attempt of Mirae Asset Financial Group, including Naver Corporation. Mirae Asset is the largest financial group in South Korea with operations worldwide, Naver is the largest Internet company in South Korea and the majority shareholder LINE.