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Kredivo receives fresh funding from Telkomsel and MDI Ventures

05 July 2019 14:02

JAKARTA - Kredivo has received fresh capital injection in an undisclosed amount from Telkomsel Mitra Inovasi (TMI) and MDI Ventures.

The capital injection is part of TMI’s range of investments, after the company received US$ 40 million from its parent entity Telkomsel this year to be invested in new, promising startups.

Operated by PT FinAccel Teknologi Indonesia, Kredivo was founded in 2017 and functions as a digital credit card which enables users to purchase goods online on credit and pay in installments. Currently Kredivo has around 2 million users and partners 200 merchants, including major e-commerce platforms such as Tokopedia, Shopee, Bukalapak, and Lazada.

“We are excited to partner with one of the most pioneering companies in Indonesia’s digital economy and hope to collaborate meaningfully in the next few years to further our vision of improving financial services for the majority of urban Indonesians,” said FinAccel CEO Akshay Garg as quoted by DealStreet Asia, Thursday (4/7). (MS)

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