JAKARTA. Kredivo Holdings, previously known as FinAccel, managed to raise fresh funds of USD 270 million or approximately IDR 4.07 trillion in the Series D funding.

This funding was led by Mizuho Bank Ltd, a subsidiary of Mizuho Financial Group Inc. Other than the bank, the funding was supported by existing investors of Kredivo Holdings, including Square Peg Capital, Jungle Ventures, Naver Financial Corporation, GMO Venture Partners, and Openscape Ventures.

For the record, Kredivo Holdings is a digital financial services provider in Southeast Asia. Some of the financial platforms listed under Kredivo Holdings include KrediFazz, Krom, and Kredivo.

Akshay Garg, CEO of Kredivo Holdings, claimed that this latest funding round will boost the expansion of Kredivo’s ecosystem, which now consists of online and offline Buy Now Pay Later (BNPL), cash loan, and the launch of its latest neobank, Krom. “The forthcoming expansion to digital banking will be synergised with existing products of Kredivo,” he added.

“We are glad to have Mizuho as our investor and strategic partner,” Garg stated. (KR/ZH)