Singapore’s Kredivo Holdings secures $270m in Series D funding
Singapore-based digital financial services platform Kredivo Holdings has secured $270 million in a Series D equity funding round led by Japanese banking giant Mizuho Bank, a subsidiary of Mizuho Financial Group.
Kredivo Holdings secures $270m Series D round
Existing investors including Square Peg Capital, Jungle Ventures, Naver Financial Corporation, GMO Venture Partners and Openspace Ventures also took part in the round, among others.
Formerly known as FinAccel, Kredivo Holdings is the parent company of buy now, pay later (BNPL) firm Kredivo, which operates in Indonesia and Vietnam, and digital credit platform KrediFazz.
Kredivo Holdings says the funding will support the launch of its upcoming neobank Krom Bank Indonesia. Kredivo Holdings (then FinAccel) acquired a majority stake in Krom (formerly Bank Bisnis Internasional) in April last year.
CEO Akshay Garg says the firm’s upcoming expansion into digital banking “is deeply synergistic with the existing Kredivo product” and “opens up a very promising channel” for the firm to cement its presence in Southeast Asia.
