MDI Ventures and Some Investors Pour 1.79 Trillion Rupiah to Kredivo Through PIPE

Kredivo's parent company, FinAccel received another investment of $125 million or 1.79 trillion Rupiah from MDI Ventures, Cathay Innovation, and Endeavor Catalyst through Private Investment in Public Equity (PIPE). This additional investment will strengthen its position ahead of the IPO preparation through the SPAC scheme.

In his official statement, MDI Ventures CEO Donald Wihardja said he was impressed with the company's vision to build an AI-based digital consumer credit platform through the use of its first post-funding alternative data for the series B round. Kredivo is also supported by ongoing partnerships with eight leading e-commerce platforms in Indonesia.

On the same occasion, FinAccel also announced three new ranks to fill the position of the Board of Commissioners of Kredivo Indonesia, Arsjad Rasjid, Darmin Nasution, and Karen Brooks. All three are still waiting for approval from the regulator. Meanwhile, the new Board of Commissioners will play a role in helping to design the strategic growth and expansion of Kredivo's market.