Kredivo

Asia Pacific, FinTech

An unmet demand. A high-impact product. And in need of financing alternatives to truly scale.

"The PFG team has been tremendously supportive of the business and has always shown great flexibility and commitment to build a win-win and long-term partnership."

- Akshay Garg, CEO & Co-founder

Kredivo, the consumer brand of FinAccel, is a digital credit card equivalent, providing its users with fast and affordable solutions to shop online, shop offline, and get a cash advance, all through the convenience of a single credit limit. Since 2016, the management team had built a solid track record and reputation, including impressive performance across risk metrics. On the back of this, FinAccel was also able to raise significant amounts of equity capital from leading investment firms in Asia and Australia.

WHERE OTHERS SAW COMPLEXITY, PFG SAW A UNIQUE OPPORTUNITY FOR A CUSTOM SOLUTION. 

As the company was looking to continue on scaling its business, new financing alternatives for its loan book were being explored. PFG was then introduced to the company through close contacts at one of Kredivo’s lead venture investors, SquarePeg Capital.

In 2019, PFG structured the company’s first significant offshore debt facility through a warehouse loan to help finance its rapidly growing loan book.  The complexities were immediately apparent in setting up such a facility, including navigating the operation across several jurisdictions. But PFG took it on as an opportunity to do what we do best: develop a custom lending solution to efficiently deliver capital to enable the business to keep on growing its book. The warehouse assets consist of the company’s loan receivables, further enabling the company to scale and improve the funding cost of its overall book. 

THE FUTURE IS LOOKING… EXPANSIVE.

Today regarded as a market leader in Indonesia, Kredivo is expected to be rolled out across other markets in South-East Asia soon. Thanks to this first landmark transaction, the company has since been able to not only over-achieve targets but also attract further financing, where structures developed by PFG were subsequently replicated.

No compensation was received by any individual or company for their views and thoughts expressed. The individuals or companies are not investment advisory clients of PFG.

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