Singapore-headquartered FinAccel has secured $90 million in what is the largest funding round for a fintech startup in Southeast Asia as it looks to further grow its credit lending app Kredivo and build more financial services.
The financing round, dubbed Series C, for the three-and-a-half-year-old startup was jointly led by Asia Growth Fund — a joint venture between Mirae Asset and Naver — and Square Peg.
Singtel Innov8, TMI (Telkomsel Indonesia), Cathay Innovation, Kejora Intervest, Mirae Asset Securities, Reinventure, and DST Partners participated in the “oversubscribed” financing round, the startup said.
FinAccel said it has raised more than $200 million in debt and equity this year itself. It has raised $140 million in equity to date.