Kredivo Group
Funding History
| Series C · 12/2019 | $90M |
|---|---|
| Series D · 03/2023 | $270M |
Overview
Kredivo Group, formerly known as FinAccel, is a Southeast Asian digital financial services platform headquartered in Singapore. It was incorporated in December 2015 and disbursed its first loan in 2016 under its flagship consumer brand Kredivo, a buy-now-pay-later and personal lending product built around AI-powered, real-time credit decisioning. The company describes its mission as building "fast, affordable and accessible" financial products for underserved consumers across the region, and by September 2021 it said it was serving nearly 4 million customers through partnerships with eight of Indonesia's top ten e-commerce merchants.
The group has expanded well beyond its original buy-now-pay-later product. In 2022 it acquired majority ownership of Indonesian lender Bank Bisnis Internasional, which it relaunched as the digital bank Krom; it also operates the instant cash-loan service KrediFazz and, through its GajiGesa business, SME working capital financing. In May 2026, Kredivo Group acquired approximately 100% of Timo, Vietnam's first digital banking platform, with prior Timo shareholders Phoenix Holdings and VinaCapital retaining a significant minority stake in the combined Kredivo Vietnam business — extending the group's Krom-style digital banking model into a second country alongside Indonesia.
Kredivo Group is led by co-founder and Group CEO Akshay Garg, alongside co-founders Umang Rustagi (Deputy CEO and President Director of Kredivo Indonesia) and Alie Tan (CTO). In August 2021 the company announced plans to become a publicly traded company through a merger with special-purpose acquisition company VPC Impact Acquisition Holdings, and raised an associated PIPE investment the following month, but no closing of that combination was subsequently announced and the company's own materials describe it today as a privately held group that continues to raise primary equity capital from institutional and strategic investors, including a ~US$270 million Series D round in March 2023.
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