Kredivo Holdings raises $270m Series D

Kredivo Holdings, a Singapore-based digital financial services platform, has successfully raised $270 million in a Series D equity funding round.

The funding round was led by Mizuho Bank, a subsidiary of Mizuho Financial Group, and also saw participation from existing investors, such as Jungle Ventures, GMO Venture Partners, Naver Financial Corporation, Openspace Ventures, and Square Peg Capital, among others.

The parent company of the buy now, pay later (BNPL) firm Kredivo and the digital credit platform KrediFazz, Kredivo Holdings plans to use the funds to support the launch of its upcoming neobank, Krom Bank Indonesia.

CEO Akshay Garg highlighted the expansion into digital banking as “deeply synergistic” with Kredivo’s existing products and “opens up a very promising channel” for the firm to strengthen its presence in Southeast Asia.