KPMG and H2 Ventures selects Kredivo as one of the top 100 fintech startups globally and the Singapore Fintech Festival selects Kredivo as the top ranked fintech startup in Southeast Asia.
Jakarta, 22 November 2018 - Kredivo, Indonesia’s leading digital credit card for millennials, has been recognized in two prestigious lists: KPMG and H2 Ventures Global Top 100 Fintech Startups and Singapore Fintech Festival’s #1 Regional Startup in the SME category. Kredivo’s recognition on these prestigious global and regional rankings reflects its leadership position in the Indonesian and regional fintech ecosystem.
KPMG and H2 Ventures Global Top 100 ranking is a curated list of the 100 most innovative fintech startups across the world. Kredivo is the only consumer lending company from Southeast Asia to make the list. The Singapore Fintech Festival, the largest fintech festival in the world, showcases fintech innovation regionally and globally, and recognizes startups that have been making impact at a regional and global scale. Co-organized by MAS (Monetary Authority of Singapore) and the private sector, the rigorous selection process, run by PwC, involves a highly regarded jury of industry experts. Kredivo’s recognition as the #1 startup in Southeast Asia in the SME category is representative of the quality of the product and the impact that Kredivo is driving at scale by enabling access to credit for millions of millennials for the first time.
Commenting on this recognition, Akshay Garg, cofounder and CEO of FinAccel, said, “Access to credit is a huge problem for Indonesian millennials, and we are solving for it through convenience, transparency and fairness. We are extremely grateful that our work is being recognized at a global and regional scale. We look forward to making an even bigger impact in the coming years.”
In 2.5 years since inception, Kredivo has grown to be the fastest growing ecommerce checkout in Indonesia with adoption across nearly all of the top 10 ecommerce merchants and nearly 250 overall. As a pioneer in digital lending, Kredivo has focused on responsible lending, with interest rates as low as 0% for on-time payments. No other digital lender in the industry provides lending at such low interest rates. In 2018 alone, the size of Kredivo’s userbase has more than doubled and monthly loan originations have more than tripled, with non-performing loans in line with that of a top-tier bank, a feat unmatched in the digital lending industry.
FinAccel is a financial technology company that leverages deep data analytics across users’ digital footprint to automate credit risk scoring and access to credit in Southeast Asia, the 7th largest economy in the world. FinAccel’s flagship product, Kredivo Buy now, Pay later, enables e-commerce buyers to apply and qualify for instant credit and pay back over time. Merchants using Kredivo benefit from providing point-of-sale financing using a 2-click checkout to all eligible buyers. FinAccel is backed by leading investors and regulated by OJK in Indonesia. To know more about FinAccel and Kredivo, visit www.kredivo.com and www.finaccel.co.