Kredivo, an Indonesia-based digital credit platform, announced today it has secured a credit line funding of US$100 million from US-based investment company Victory Park Capital (VPC).
The fintech startup will utilise the funds to develop and diversify its loan book, all of which comes from third-party funds.
Operated by Singapore-based FinAccel, Kredivo provides instant credit financing to customers for purchases on e-commerce, offline and cash loans, processed based on real-time decisions. Users can buy now and pay later with low-interest rates.
The firm’s trading partners benefit from instant point-of-sale (PoS) funding with a 2-click checkout via Kredivo.
Founded in 2007 and headquartered in Chicago, VPC invests in large companies as well as emerging business segments in various industries in the US and the world, which often lack access to traditional sources of capital.