Lending
Kredivo’s Parent FinAccel Raises US$90 Million; Doubles Down on Growth in South East Asia
Singapore-headquartered FinAccel, a fintech firm that enables Indonesian consumers to buy online and pay later under the brand Kredivo, has raised US$90 million in a Series C equity funding round to expand in Indonesia and the region. Since inception just
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P2P Lending Platform Funding Societies Surpasses SGD 1 Billion in SME Lending
Funding Societies, a SME digital financing platform in Southeast Asia, is ending an eventful year by crossing the SGD 1 billion mark in SME loans. In line with the platform’s goal of responsible growth, Funding Societies expanded its loan volume
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Indonesia’s P2P Lending Sector Sees 642% Growth in Disbursements
Peer-to-peer (P2P) lending is a booming sector in Indonesia’s rapidly growing fintech industry, representing 43% of the country’s fintech companies, according to a paper by the Asian Development Bank Institute released earlier this month. In December 2018, disbursement of credit
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Philippines Cracks Down on Online Lenders
Philippines’ Securities and Exchange Commission issued a statement prohibiting another batch of 13 online lending operators from further engaging in lending activities. The regulator issued an immediate cease and desist to the owners and operators from promoting and facilitating unauthorised
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MatchMove Acquires a Stake in Local P2P Lender MoolahSense to Power SME Lending
MatchMove, a ‘Bank-As-A-Service’ platform has closed an agreement with licensed P2P lender, MoolahSense, to acquire a strategic stake with immediate effect. MoolahSense is a data-driven peer-to-peer lending platforms focused on SME lending, and operates under a Capital Markets Services (CMS)
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Philippines’ Regulators Voice Support for Industry Driven TechnoEthics for Digital Lending
Members of FinTechAlliance.ph, an organization of fintech and digital firms have agreed to institutionalize an industry-wide code of ethics and adopt a code of conduct among its Alliance member-companies for responsible online lending. This comes after three online lenders were
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Indonesia-Based Lending Fintech Raises US$ 24 Million in Gobi Partners Led Round
Indonesia based SuperAtom has closed its latest funding round of US$24 million. The round was led by Gobi Partners through the Meranti ASEAN Growth Fund with NYSE-listed Cheetah Mobile as a co-investor. Founded in 2018, SuperAtom is a startup incubated
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Kredivo Closes up to US$20m Credit Line with Partners for Growth
Jakarta-headquartered Kredivo, a digital credit platform for retail borrowers across Indonesia, and Partners for Growth V, L.P. (PFG), a venture debt firm in the U.S. and Australia, announced today the closing of a debt line of up to US$20m to
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Fintech Lending to Drive Indonesia’s Economic Growth
As the world’s fourth most populous country in the world, with more than 60% of its population of working age, Indonesia has unique economic potential. However, one of the key elements needed for the country to reach its full economic
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Y-Combinator Backed Aspire Raises US$32.5 Million to Help SMEs Secure Working Capital
Y Combinator-backed Aspire announced today a US$32.5 million raise. Aspire is currently operating across Thailand, Indonesia, Singapore and Vietnam. Leveraging on 3rd party financial service providers the company claims to provide SMEs with a 60-day, interest free credit line of
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