Kredivo Closes up to US$100m Warehouse Financing Facility with Victory Park Capital to Boost Indonesian Expansion

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The transaction is Victory Park Capital’s first investment in Southeast Asia and one of the largest ever debt transactions by a fintech firm in the region.

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We look forward to our partnership with Kredivo. The company presents a unique combination of growth, scale, risk management and financial inclusion in one of the most exciting emerging markets in the world.

Kredivo, the leading digital credit platform for retail borrowers across Indonesia, and Victory Park Capital Advisors, LLC (“VPC”), a leading private credit specialist headquartered in Chicago, announced today the closing of a committed debt facility of up to US$100 million to fund consumer loans for Kredivo’s borrowers in Indonesia. The deal marks major milestones for both firms: for Kredivo, it is the largest deal in its history with a credit provider and also represents one of the largest ever credit lines secured by any digital credit platform in the region; for VPC, this represents their first transaction in Southeast Asia and Indonesia overall.

The transaction, which closed in the previous quarter, will further propel the tremendous momentum that Kredivo has enjoyed to date, with strong growth and risk metrics, even in this year’s challenging macro environment. Kredivo will use the funds to grow and further diversify the funding of its loan book, all of which is 3rd party generated.

Commenting on the closure, Umang Rustagi, co-founder of Kredivo, said, “The large capital pool made available via this facility will enable the business to scale even further and get us closer to our goal of serving up to 10m customers in Indonesia over the next few years. We believe that the size and complexity of this facility represents major breakthroughs for Indonesia's tech and fintech ecosystem. The entire Kredivo team is extremely pleased to have sealed a partnership with VPC, a renowned and sophisticated credit provider active in our space globally.”

Gordon Watson, partner at VPC, said, “We look forward to our partnership with Kredivo. The company presents a unique combination of growth, scale, risk management and financial inclusion in one of the most exciting emerging markets in the world. We are very pleased to anchor our first investment in this region with a business of this caliber and one that is deeply passionate about enabling low-cost access to credit to the mass market.”

The transaction represents a major milestone for the digital credit ecosystem in Indonesia (and Southeast Asia). With less than 3% of its population in possession of a credit card, and banks historically cautious about providing unsecured credit to the mass market, digital credit providers such as Kredivo have been making efforts to fill the gap. While the unsecured credit industry is primarily fueled by peer-to-peer lending models, the transaction between Kredivo, which operates as a multi-finance company, and VPC represents a significant departure from the norm, and a sign of the growing institutional credibility of emerging fintech players.

About Kredivo
Kredivo is the leading digital credit platform in Indonesia that gives customers instant credit financing for ecommerce and offline purchases, and personal loans, based on real-time decisioning. Kredivo users can buy now and pay later with one of the lowest interest rates amongst digital credit providers in the country. Kredivo's merchant partners benefit from instant point-of-sale financing, powered by its unique 2-click checkout. Kredivo is operated by FinAccel, a Singapore headquartered financial technology company backed by leading investors such as Mirae Asset, Naver, Square Peg Capital, MDI Ventures and Jungle Ventures, among others. Kredivo is supervised by OJK’s multi-finance division in Indonesia. To know more about FinAccel and Kredivo, visit and

About Victory Park Capital
Victory Park Capital invests in emerging and established businesses across various industries in the U.S. and abroad, who are often unable to access traditional sources of capital. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities, broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional resources in New York, Los Angeles and San Francisco. VPC is privately held and a Registered Investment Advisor with the SEC. For more information, please visit

Press Contact

Artemis (Kredivo Communication Consultant)
Eliza Viyantina
(+62) 81-2889-5961

Victory Park Capital
Jordan Niezelski, Edelman

Tubagus Aditya

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Akshay Garg
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