Company enabling ‘pay later’ in Southeast Asia raised funding

FinAccel intends to use the funds to double down on growth in the region, hire talent, and expand its range of financial services 

FinAccel

Company enabling ‘pay later’ in Southeast Asia raised funding. Source: shutterstock.com

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.

FinAccel is an exceptional company, one that combines a strong technology DNA with top-tier risk management and a bold vision of financial inclusion. Today, we are witnessing the rapid advancement of technology-led disruption of financial services and we see FinAccel as one of the leading companies in this area
Jikwang Chung, Managing Director of Mirae Asset Capital, the strategic investment arm of Mirae Asset

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