We've got to give Kredivo some credit! Why? They've just raised a $270M Series D. This fintech offers a ton of financial services across Indonesia and Vietnam — and they're bank(ing) on launching even more soon!

• Sounds familiar? You may know them by their old name, FinAccel.
• Their BNPL services drive 3% to 4% of total GMV for their top e-commerce merchants!

Investor check. The round was led by Japanese bank Mizuho Bank (a subsidiary of Mizuho Financial Group), which put in a massive $125M. Existing investors Square Peg Capital, Jungle Ventures, Naver Financial Corporation, GMO Venture Partners and Openspace Ventures also joined in!

• They've now raised $400M in equity and have nearly $1B in committed debt facilities of almost $1 billion to grow their loan book.
• They last raised a $140M Series D that valued the company at over $1.6B in late 2022. 

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🤨 Kredi-who?

They're best known for their online and offline BNPL products, but they also offer personal loans, instant credit financing, and credit cards.

• Based on a mix of sources, Kredivo has around 6M to 8M approved users.
• They gauge the creditworthiness of potential customers through alternative data sources! Yup, like telcos, e-commerce accounts and bank accounts. 

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🔜 Coming soon!

Banking on (Neo)banking. They previously acquired 75% of an IDX-listed bank called Bank Bisnis Internasional. They renamed it Krom Bank Indonesia to build a neobank and beef up their services.

• Their neobank Krom will launch with deposits and transaction banking this year as long as they pass regulatory approvals. 

They're also building open-loop credit card-like products!

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🤫 Let's keep this private

They planned to go public last year but called their $2.5B SPAC deal quits because of the nasty market conditions. 

• No rush. They have no plans to go public and are happy to stay private for now — but will look into public listing options in the future. 

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🚀 Next steps?

With the new funding, they'll keep developing their fintech offerings and support the launch of Krom!

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