3 years ago

FinAccel Becomes Singapore's Newest Unicorn with $140 Million Series D Funding

  • FinAccel, the parent company of Indonesian buy now, pay later (BNPL) platform Kredivo, has become Singapore's newest unicorn after raising almost $140 million in a Series D funding round

  • The deal values FinAccel at $1.66 billion, more than thrice its previous valuation

  • The funding round was led by existing investor Mirae Asset with participation from Cathay Innovation, Endeavor Catalyst, GMO Global Payment, Jungle Ventures, Open Space Ventures, and Square Peg

  • FinAccel had previously canceled a SPAC merger and IPO plans due to unfavorable market conditions

  • The company plans to expand across Southeast Asia and broaden its offerings beyond providing financing for online purchases and extending consumer credit.

      • ProblemFinancial Services

      "FinAccel aims to expand across Southeast Asia, broaden its offerings beyond providing financing for online purchases, and extend consumer credit."

      Solution

      "FinAccel offers a buy-now, pay-later (BNPL) platform through its subsidiary Kredivo, allowing consumers to make online purchases and finance them over time."

      Covered on