Kredivo Receives $270 Million Investment

Kredivo, a buy now, pay later startup, has received 270 million dollars in investment. Kredivo, an Indonesia-based company, provides a "buy now, pay later" service. Customers can use this service to pay for their purchases later. Kredivo recently received $270 million in Series D, a $270 million investment round led by Mizuho Bank. Other investors such as Square Peg Capital, Jungle Ventures, Naver Financial Corporation, GMO Venture Partners and Openspace Ventures also participated in the investment round. The company has received a total of $400 million in investments so far, but no information about the valuation of the company has been shared.

Also Read: IntegrityNext Receives €100 Million Investment

Kredivo

The company, formerly known as FinAccel, was founded by Akshay Garg, Umang Rustagi and Alie Tan. The company operates under the Kredivo brand, which offers a "buy now, pay later" service. Kredivo offers consumers instant loans and allows them to make interest-free payments after 30 days. It also offers the option to divide payments into 3, 6 or 12 installments with certain monthly interest rates. The company launched in 2016 and has more than 6 million users to date.

Last year, Kredivo had planned to go public with the SPAC deal and to this end, it had made a merger agreement worth 2.5 billion dollars. However, this deal was canceled due to unexpected and unfavorable market conditions. The "Buy Now, Pay Later" initiative is a marketing approach that offers consumers the opportunity to experience products before they buy them. This approach allows consumers to see the actual features and quality of products before they buy.

This model is often used by online sales platforms and e-commerce sites. Consumers do not have to pay before purchasing the product. Instead, they can pay within a certain period of time after receiving the product. This approach helps customers to know more about products and make more informed purchasing decisions. It allows consumers to experience the products and decide whether they like them or not.