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Kredivo Group is a technology company.
Kredivo Group provides digital financial services, offering fast, affordable, and accessible retail credit solutions like buy now, pay later (BNPL) and digital credit products. Leveraging its technology platform, the company enables consumer financing for online and offline purchases across Southeast Asia, also operating a digital banking service through Krom Bank.
The company was established in 2015 by co-founders Akshay Garg, Alie Tan, and Umang Rustagi. Their foundational insight addressed the significant unmet demand for accessible and affordable credit within Southeast Asia's underbanked population, driving them to build a technology-driven platform for efficient financial access.
Kredivo Group serves millions of consumers across the region, focusing on financial inclusion in underserved markets. Its vision is to become the premier digital financial services platform in Southeast Asia, responsibly extending credit access and empowering individuals with greater purchasing power.
Kredivo Group has raised $650.0M across 6 funding rounds.
Key people at Kredivo Group.
Kredivo Group was founded in 2015 by Alie Tan (Chief Innovation Officer/ Co-Founder).
Kredivo Group has raised $650.0M in total across 6 funding rounds.
Kredivo Group was founded in 2015 by Alie Tan (Chief Innovation Officer/ Co-Founder).
Kredivo Group has raised $650.0M in total across 6 funding rounds.
Kredivo Group's investors include Daisuke Horiuchi, 500 Global, Accel, Inspired Capital, Jungle Ventures, Khosla Ventures, Openspace Ventures, Square Peg Capital, Aleksander Leonard Larsen, Daniela Binatti, Jannick Malling, Leif Abraham.
Kredivo Group is a leading Southeast Asian fintech company specializing in digital financial services, particularly buy now, pay later (BNPL) credit, personal loans, and digital banking. Its flagship product, Kredivo, provides instant credit financing for e-commerce and offline purchases via AI-powered real-time decisioning, targeting Indonesia's growing middle class with low interest rates and a 2-minute approval process.[1][3][6] The company serves underserved consumers in emerging markets, partnering with top e-commerce merchants (across eight of Indonesia's top 10), retailers like H&M and Samsung, and banks such as BCA Digital and Bank Mandiri to drive financial inclusion.[1][4] Growth remains strong, with a user base nearing 4 million in 2021 (doubling in 10 months), market-leading 50% BNPL share, annualized revenue doubling, and expansions into earned wage access (EWA) via GajiGesa acquisition and digital banking through Krom.[1][2][4]
Kredivo Group, formerly FinAccel, was founded in 2015 in Singapore by co-founder and CEO Akshay Garg, who identified a gap in consumer credit access in Southeast Asia where traditional banks lagged.[1][2][3][4] Incorporated that December with seed funding from Jungle Ventures, it disbursed its first loan in April 2016 and launched installment products in August.[4] Early traction came from Google Play's "Best App of 2017 Hidden Gem" award and integration with Indonesia's top e-commerce platforms by 2019.[4] Pivotal moments include a $90M Series C in 2019, a ~$270M Series D in 2023 led by Mizuho (prompting the name change to Kredivo Group), and 2025 moves like acquiring GajiGesa for EWA entry and launching Krom digital banking.[2][4]
Kredivo rides the explosive growth of e-commerce and digital finance in Southeast Asia, where Indonesia's market eyes $145B NMV by 2025 (20%+ CAGR) amid a burgeoning middle class underserved by banks.[1][3] Timing aligns with rising smartphone penetration and post-pandemic digital adoption, positioning BNPL/EWA as alternatives to high-cost informal lending. Market forces like government pushes (e.g., Danantara for economic growth) and competitor dynamics (vs. Akulaku, Boost) favor Kredivo's scale and tech edge.[2] It influences the ecosystem by accelerating inclusion—partnering for urban mobility (Transjakarta), fashion access (H&M), and literacy campaigns—while data insights (e.g., Katadata reports) shape e-commerce strategies.[4]
Kredivo Group is poised for accelerated regional dominance, leveraging 2025 milestones like GajiGesa integration and expanded facilities (Rp700B from Hana Bank) to tap EWA and banking synergies amid Indonesia's 5-8% growth ambitions.[2][4] Trends like AI credit scaling, Temasek-style state investments, and e-commerce maturity will propel it into Vietnam/Thailand, potentially mirroring Western BNPL giants but with local adaptation.[1][2] Influence may evolve toward a full-stack "super app" for credit, savings, and wages, redefining inclusion for millions—building on its founding vision of fast, affordable finance for all with a mobile.[3][6]
Key people at Kredivo Group.
Kredivo Group has raised $650.0M across 6 funding rounds. Most recently, it raised $270.0M Series D in March 2023.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jan 5, 2022 | Timo | $20.0M Other Equity | — | FinAccel, Granite Oak, Jungle Ventures, Phoenix Holdings |
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2023 | $270.0M Series D | Daisuke Horiuchi | 500 Global, Accel, Inspired Capital, Jungle Ventures, Khosla Ventures, Openspace Ventures, Square Peg Capital, Aleksander Leonard Larsen, Daniela Binatti, Jannick Malling, Leif Abraham, Sergio Jimenez, Sujata Bhatia, GMO Venture Partners, Naver Financial Corporation |
| Oct 1, 2022 | $140.0M Series D | Mirae Asset | 500 Global, Accel, Inspired Capital, Jungle Ventures, Khosla Ventures, Openspace Ventures, Square Peg Capital, Aleksander Leonard Larsen, Daniela Binatti, Jannick Malling, Leif Abraham, Sergio Jimenez, Sujata Bhatia, Cathay Innovation, Endeavor Catalyst, GMO Global Payment Fund |
| Jun 21, 2021 | $100.0M Debt | Gordon Watson | |
| Dec 1, 2019 | $90.0M Series C | Asia Growth Fund | Accel, Inspired Capital, Khosla Ventures, Openspace Ventures, Square Peg Capital, Aleksander Leonard Larsen, Daniela Binatti, Jannick Malling, Leif Abraham, Sergio Jimenez, Sujata Bhatia, Cathay Innovation, DST Global, Kejora Intervest, Jikwang Chung, Reinventure, Singtel Innov8, TMI |
| Sep 4, 2019 | $20.0M Debt | Jason Georgatos | |
| Jul 1, 2018 | $30.0M Series B | Square Peg Capital | 500 Global, Accel, Inspired Capital, Jungle Ventures, Khosla Ventures, Openspace Ventures, Aleksander Leonard Larsen, Daniela Binatti, Jannick Malling, Leif Abraham, Sergio Jimenez, Sujata Bhatia, 500 Startups, Alpha JWC Ventures, Atami Capital, GMO Venture Partners, Nicko Widjaja |