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.
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