Kredivo Holdings Closes $270 Million Series D

Singapore – March 29, 2023 – Cooley advised Kredivo Holdings (formerly known as FinAccel), a top Southeast Asian digital financial services platform, on its $270 million Series D fundraising round. Partners Ferish Patel and Tim Pitrelli led the Cooley team.

The Series D round was led by Japanese global bank Mizuho Bank, a subsidiary of Mizuho Financial Group, and Kredivo’s existing investors, including Square Peg Capital, Jungle Ventures, Naver Financial Corporation and Openspace Ventures, among others. The round will strengthen Kredivo’s leading position in the digital financial services industry in Southeast Asia by expanding its ecosystem – which includes online and offline buy now, pay later programs, personal loans and credit cards (physical and virtual) – and supporting the upcoming launch of its neobank brand Krom.

Kredivo Holdings is the top digital credit platform in Indonesia and Vietnam giving customers instant credit financing for ecommerce, offline purchases and personal loans based on real-time decision-making through its brands Kredivo, KrediFazz and Krom. Its users can buy now and pay later across the entirety of Indonesia’s retail commerce network with one of the lowest interest rates among digital credit providers in the country. Krom Bank Indonesia is the group’s bank entity and operator of the soon-to-be-launched Indonesian neobank – Krom. Kredivo is backed by top financial and strategic investors, such as Mizuho Financial Group, Square Peg Capital, Jungle Ventures, Naver Financial Corporation, Mirae Asset and Victory Park Capital, among others.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has nearly 1,400 lawyers across 18 offices in the United States, Asia and Europe, and a total workforce of more than 3,000.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.