Singapore App-Lending Startup Scores $500 Million Valuation
- Mirae Asset-Naver Asia Growth Fund, Square Peg co-lead round
- FinAccel is now valued at almost $500 million, CEO says
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FinAccel Pte, which extends credit to online shoppers in Indonesia under the Kredivo brand, has raised $90 million of expansion capital in a fundraising round valuing the company at almost $500 million.
South Korea’s Mirae Asset-Naver Asia Growth Fund and Australian venture capital firm Square Peg co-led the Series C financing, according to FinAccel Chief Executive Officer Akshay Garg. Other backers joining the round included Singtel Innov8, Telkomsel Indonesia, Cathay Innovation and Kejora Intervest.