According to VentureCap Insights data, FinAccel, the parent company of the Indonesia-based purchase now, pay later service Kredivo, has collected over US $140 million as part of its series D investment round.
Mirae Asset, Square Peg, GMO Global Payment Fund, Jungle Ventures, Openspace Ventures, Cathay Innovation, and Endeavor Catalyst are a few of the investors taking part in the round.
FinAccel’s worth is increased by the transaction to more than US$1.6 billion, joining the unicorn club. According to VentureCap Insights, its share price has nearly quadrupled since its previous investment round in 2019.
FinAccel, a 2016 startup, runs a BNPL service that lets users make online and offline purchases and pay for orders over time.
The business revealed its ambitions to merge with VPC Impact Acquisition Holdings II, a special purpose acquisition company controlled by Victory Park Capital, in August of last year in order to go public in the US. However, it abandoned the plan early this year as a result of adverse conditions in the public market and uncontrollable delays in the process.
In addition, FinAccel purchased the local Bank Bisnis International, which it plans to transform into a digital bank.
