FinAccel intends to use the funds to double down on growth in the region, hire talent, and expand its range of financial services
FinAccel, a Singaporean fintech company, has raised $90 million in a Series C equity funding round for its expansion in Indonesia and the region. The company enables Indonesian consumers to buy online and pay later under the brand Kredivo.
The funding was jointly led by Asia Growth Fund and Square Peg. This funding round brings the total capital raised by the company this year to more than $200 million.
Although the funding round has already been closed, it will contribute to the momentum that the company has enjoyed in the past years. FinAccel aims to be present at the checkout of most of the leading Indonesian e-commerce merchants, growing the transaction value at >300% annually.