The funding landscape in Southeast Asia is still bleak, but one fintech secured a significant round. Kredivo Holdings, which provides credit services to unbanked consumers in Indonesia and Vietnam, has reportedly raised USD 270 million in an oversubscribed Series D offering.
With a USD 125 million contribution, Mizuho Bank, a subsidiary of Mizuho Financial Group, led the round. Investors who had previously invested in the company, including Square Peg Capital, Jungle Ventures, Naver Financial Corporation, GMO Venture Partners, and Openspace Ventures, participated.
The company has now committed almost USD 1 billion in debt facilities and raised a total of about USD 400 million in equity to expand its loan book.