Kredivo Group valuation, funding and investors
Kredivo Group works in digital financial services, based in Special Capital Region of Jakarta, Indonesia. Founded in 2015, it has about 2,910 employees.
- Last round
- Series D · $270M · Mar 2023
- Valuation at last round
- $2.93B · implied
- Headcount
- 2,912 · growing
- Grade
- C
- Founded
- 2015
Kredivo Group valuation today
VCMC values Kredivo Group at $3.8B today, with a range of $1.6B to $5.8B and a grade of C. The valuation starts from its last funding round, a Series D round in Mar 2023.
Valuation by date (145 rows)
Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.
| Date | Valuation | Range | Predicted in 1 yr | Phase | Headcount | Trend | Grade | Winding-down probability |
|---|---|---|---|---|---|---|---|---|
| 1 Jan 2015 | $2.64M | $0.96M – $7.26M | $2.77M (+5%) | before first round | – | unknown | D | 0% |
| 1 Feb 2015 | $2.65M | $0.97M – $7.29M | $2.78M (+5%) | before first round | – | unknown | D | 0% |
| 1 Mar 2015 | $2.66M | $0.97M – $7.31M | $2.79M (+5%) | before first round | – | unknown | D | 0% |
| 1 Apr 2015 | $2.67M | $0.97M – $7.34M | $2.80M (+5%) | before first round | – | unknown | D | 0% |
| 1 May 2015 | $2.68M | $0.98M – $7.37M | $2.81M (+5%) | before first round | – | unknown | D | 0% |
| 1 Jun 2015 | $2.69M | $0.98M – $7.40M | $2.82M (+5%) | before first round | – | unknown | D | 0% |
| 1 Jul 2015 | $2.70M | $0.98M – $7.43M | $2.83M (+5%) | before first round | – | unknown | D | 0% |
| 1 Aug 2015 | $2.71M | $0.99M – $7.46M | $2.91M (+7%) | before first round | – | unknown | D | 0% |
| 1 Sep 2015 | $2.73M | $0.99M – $7.49M | $2.99M (+10%) | before first round | – | unknown | D | 0% |
| 1 Oct 2015 | $2.74M | $1.00M – $7.52M | $3.06M (+12%) | before first round | – | unknown | D | 0% |
| 1 Nov 2015 | $2.75M | $1.00M – $7.54M | $3.15M (+15%) | before first round | – | unknown | D | 0% |
| 1 Dec 2015 | $2.76M | $1.00M – $7.57M | $3.23M (+17%) | before first round | – | unknown | D | 0% |
| 1 Jan 2016 | $2.77M | $1.01M – $7.60M | $3.32M (+20%) | before first round | – | unknown | D | 0% |
| 1 Feb 2016 | $2.78M | $1.01M – $7.63M | $3.41M (+23%) | before first round | – | unknown | D | 0% |
| 1 Mar 2016 | $2.79M | $1.02M – $7.66M | $3.49M (+25%) | before first round | – | unknown | D | 0% |
| 1 Apr 2016 | $2.80M | $1.02M – $7.69M | $3.59M (+28%) | before first round | – | unknown | D | 0% |
| 1 May 2016 | $2.81M | $1.02M – $7.72M | $3.68M (+31%) | before first round | – | unknown | D | 0% |
| 1 Jun 2016 | $2.82M | $1.03M – $7.75M | $3.78M (+34%) | before first round | – | unknown | D | 0% |
| 1 Jul 2016 | $2.83M | $1.03M – $7.78M | $3.88M (+37%) | before first round | – | unknown | D | 0% |
| 1 Aug 2016 | $2.91M | $1.06M – $7.99M | $3.99M (+37%) | before first round | – | unknown | D | 0% |
| 1 Sep 2016 | $2.99M | $1.09M – $8.21M | $4.10M (+37%) | before first round | – | unknown | D | 0% |
| 1 Oct 2016 | $3.07M | $1.12M – $8.42M | $4.20M (+37%) | before first round | – | unknown | D | 0% |
| 1 Nov 2016 | $3.15M | $1.15M – $8.65M | $4.32M (+37%) | before first round | – | unknown | D | 0% |
| 1 Dec 2016 | $3.23M | $1.18M – $8.88M | $4.43M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jan 2017 | $3.32M | $1.21M – $9.12M | $4.55M (+37%) | before first round | – | unknown | D | 0% |
| 1 Feb 2017 | $3.41M | $1.24M – $9.36M | $4.67M (+37%) | before first round | – | unknown | D | 0% |
| 1 Mar 2017 | $3.49M | $1.27M – $9.59M | $4.79M (+37%) | before first round | – | unknown | D | 0% |
| 1 Apr 2017 | $3.59M | $1.31M – $9.85M | $4.92M (+37%) | before first round | – | unknown | D | 0% |
| 1 May 2017 | $3.68M | $1.34M – $10.1M | $5.05M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jun 2017 | $3.78M | $1.38M – $10.4M | $5.18M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jul 2017 | $3.88M | $1.41M – $10.7M | $5.32M (+37%) | before first round | – | unknown | D | 0% |
| 1 Aug 2017 | $3.99M | $1.45M – $10.9M | $5.46M (+37%) | before first round | – | unknown | D | 0% |
| 1 Sep 2017 | $4.09M | $1.49M – $11.2M | $5.61M (+37%) | before first round | – | unknown | D | 0% |
| 1 Oct 2017 | $4.20M | $1.53M – $11.5M | $5.76M (+37%) | before first round | – | unknown | D | 0% |
| 1 Nov 2017 | $4.31M | $1.57M – $11.9M | $5.92M (+37%) | before first round | – | unknown | D | 0% |
| 1 Dec 2017 | $4.43M | $1.61M – $12.2M | $6.07M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jan 2018 | $4.55M | $1.66M – $12.5M | $6.24M (+37%) | before first round | – | unknown | D | 0% |
| 1 Feb 2018 | $4.67M | $1.70M – $12.8M | $6.41M (+37%) | before first round | – | unknown | D | 0% |
| 1 Mar 2018 | $4.79M | $1.74M – $13.2M | $6.56M (+37%) | before first round | – | unknown | D | 0% |
| 1 Apr 2018 | $4.92M | $1.79M – $13.5M | $6.74M (+37%) | before first round | – | unknown | D | 0% |
| 1 May 2018 | $5.05M | $1.84M – $13.9M | $6.92M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jun 2018 | $5.18M | $1.89M – $14.2M | $7.11M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jul 2018 | $5.32M | $1.94M – $14.6M | $7.29M (+37%) | before first round | – | unknown | D | 0% |
| 1 Aug 2018 | $5.46M | $1.99M – $15.0M | $7.37M (+35%) | before first round | – | unknown | D | 0% |
| 1 Sep 2018 | $5.61M | $2.04M – $15.4M | $7.43M (+32%) | before first round | – | unknown | D | 0% |
| 1 Oct 2018 | $5.76M | $2.10M – $15.8M | $7.50M (+30%) | before first round | – | unknown | D | 0% |
| 1 Nov 2018 | $5.92M | $2.15M – $16.3M | $7.57M (+28%) | before first round | – | unknown | D | 0% |
| 1 Dec 2018 | $6.07M | $2.21M – $16.7M | $7.64M (+26%) | before first round | – | unknown | D | 0% |
| 1 Jan 2019 | $6.24M | $2.27M – $17.1M | $7.71M (+24%) | before first round | – | unknown | D | 0% |
| 1 Feb 2019 | $6.41M | $2.33M – $17.6M | $7.78M (+21%) | before first round | – | unknown | D | 0% |
| 1 Mar 2019 | $6.56M | $2.39M – $18.0M | $7.84M (+19%) | before first round | – | unknown | D | 0% |
| 1 Apr 2019 | $6.74M | $2.45M – $18.5M | $7.91M (+17%) | before first round | – | unknown | D | 0% |
| 1 May 2019 | $6.92M | $2.52M – $19.0M | $7.98M (+15%) | before first round | – | unknown | D | 0% |
| 1 Jun 2019 | $7.11M | $2.59M – $19.5M | $8.06M (+13%) | before first round | – | unknown | D | 0% |
| 1 Jul 2019 | $7.29M | $2.66M – $20.0M | $8.13M (+11%) | before first round | – | unknown | D | 0% |
| 1 Aug 2019 | $7.37M | $2.68M – $20.2M | $8.20M (+11%) | before first round | – | unknown | D | 0% |
| 1 Sep 2019 | $7.43M | $2.71M – $20.4M | $8.28M (+11%) | before first round | – | unknown | D | 0% |
| 1 Oct 2019 | $7.50M | $2.73M – $20.6M | $8.35M (+11%) | before first round | – | unknown | D | 0% |
| 1 Nov 2019 | $7.57M | $2.76M – $20.8M | $8.43M (+11%) | before first round | – | unknown | D | 0% |
| 1 Dec 2019 | $7.64M | $2.78M – $21.0M | $8.50M (+11%) | before first round | – | unknown | D | 0% |
| 3 Dec 2019 | $712M | $467M – $1.4B | $925M (+30%) | after a round | – | unknown | B | 0% |
| 1 Jan 2020 | $727M | $467M – $1.4B | $925M (+27%) | after a round | – | unknown | B | 0% |
| 1 Feb 2020 | $743M | $467M – $1.4B | $925M (+24%) | after a round | – | unknown | B | 0% |
| 1 Mar 2020 | $759M | $467M – $1.4B | $925M (+22%) | after a round | – | unknown | B | 0% |
| 1 Apr 2020 | $776M | $467M – $1.4B | $925M (+19%) | after a round | – | unknown | B | 0% |
| 1 May 2020 | $793M | $467M – $1.4B | $925M (+17%) | after a round | – | unknown | B | 0% |
| 1 Jun 2020 | $811M | $467M – $1.4B | $925M (+14%) | after a round | – | unknown | B | 0% |
| 1 Jul 2020 | $828M | $467M – $1.4B | $925M (+12%) | after a round | – | unknown | B | 0% |
| 1 Aug 2020 | $847M | $467M – $1.4B | $925M (+9%) | after a round | – | unknown | B | 0% |
| 1 Sep 2020 | $866M | $467M – $1.4B | $925M (+7%) | after a round | – | unknown | B | 0% |
| 1 Oct 2020 | $885M | $467M – $1.4B | $925M (+4%) | after a round | – | unknown | B | 0% |
| 1 Nov 2020 | $905M | $467M – $1.4B | $925M (+2%) | after a round | – | unknown | B | 0% |
| 1 Dec 2020 | $925M | $467M – $1.4B | $925M (0%) | after a round | – | unknown | B | 0% |
| 1 Jan 2021 | $925M | $446M – $1.4B | $925M (0%) | after a round | – | unknown | B | 0% |
| 1 Feb 2021 | $925M | $426M – $1.4B | $925M (0%) | after a round | – | unknown | B | 0% |
| 1 Mar 2021 | $925M | $409M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Apr 2021 | $925M | $390M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 May 2021 | $925M | $373M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Jun 2021 | $925M | $356M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Jul 2021 | $925M | $341M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Aug 2021 | $925M | $325M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Sep 2021 | $925M | $310M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Oct 2021 | $925M | $297M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Nov 2021 | $925M | $283M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Dec 2021 | $925M | $271M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Jan 2022 | $925M | $244M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Feb 2022 | $925M | $232M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Mar 2022 | $925M | $221M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Apr 2022 | $925M | $210M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 May 2022 | $925M | $200M – $1.4B | $925M (0%) | after a round | – | unknown | C | 0% |
| 1 Jun 2022 | $925M | $190M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Jul 2022 | $925M | $181M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Aug 2022 | $925M | $172M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Sep 2022 | $925M | $164M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Oct 2022 | $925M | $156M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Nov 2022 | $925M | $148M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Dec 2022 | $925M | $141M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Jan 2023 | $925M | $134M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Feb 2023 | $925M | $127M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 1 Mar 2023 | $925M | $122M – $1.4B | $925M (0%) | after a round | – | unknown | D | 0% |
| 24 Mar 2023 | $2.9B | $1.9B – $5.8B | $3.8B (+30%) | after a round | – | unknown | B | 0% |
| 1 Apr 2023 | $3.0B | $1.9B – $5.8B | $3.8B (+29%) | after a round | – | unknown | B | 0% |
| 1 May 2023 | $3.0B | $1.9B – $5.8B | $3.8B (+26%) | after a round | – | unknown | B | 0% |
| 1 Jun 2023 | $3.1B | $1.9B – $5.8B | $3.8B (+24%) | after a round | – | unknown | B | 0% |
| 1 Jul 2023 | $3.2B | $1.9B – $5.8B | $3.8B (+21%) | after a round | – | unknown | B | 0% |
| 1 Aug 2023 | $3.2B | $1.9B – $5.8B | $3.8B (+18%) | after a round | – | unknown | B | 0% |
| 1 Sep 2023 | $3.3B | $1.9B – $5.8B | $3.8B (+16%) | after a round | – | unknown | B | 0% |
| 1 Oct 2023 | $3.4B | $1.9B – $5.8B | $3.8B (+13%) | after a round | 1,300 | unknown | B | 0% |
| 1 Nov 2023 | $3.4B | $1.9B – $5.8B | $3.8B (+11%) | after a round | 1,300 | unknown | B | 0% |
| 1 Dec 2023 | $3.5B | $1.9B – $5.8B | $3.8B (+8%) | after a round | 1,300 | unknown | B | 0% |
| 1 Jan 2024 | $3.6B | $1.9B – $5.8B | $3.8B (+6%) | after a round | 1,300 | unknown | B | 0% |
| 1 Feb 2024 | $3.7B | $1.9B – $5.8B | $3.8B (+4%) | after a round | 1,400 | flat | B | 0% |
| 1 Mar 2024 | $3.8B | $1.9B – $5.8B | $3.8B (+2%) | after a round | 1,500 | up | B | 0% |
| 1 Apr 2024 | $3.8B | $1.9B – $5.8B | $3.8B (0%) | after a round | 1,500 | up | B | 0% |
| 1 May 2024 | $3.8B | $1.9B – $5.8B | $3.8B (0%) | after a round | 1,500 | up | B | 0% |
| 1 Jun 2024 | $3.8B | $1.9B – $5.8B | $3.8B (0%) | after a round | 1,500 | up | B | 0% |
| 1 Jul 2024 | $3.8B | $1.9B – $5.8B | $3.8B (0%) | after a round | 1,600 | up | B | 0% |
| 1 Aug 2024 | $3.8B | $1.8B – $5.8B | $3.8B (0%) | after a round | 1,600 | up | B | 0% |
| 1 Sep 2024 | $3.8B | $1.8B – $5.8B | $3.8B (0%) | after a round | 1,600 | up | B | 0% |
| 1 Oct 2024 | $3.8B | $1.8B – $5.8B | $3.8B (0%) | after a round | 1,600 | up | B | 0% |
| 1 Nov 2024 | $3.8B | $1.8B – $5.8B | $3.8B (0%) | after a round | 1,700 | up | B | 0% |
| 1 Dec 2024 | $3.8B | $1.8B – $5.8B | $3.8B (0%) | after a round | 1,700 | up | B | 0% |
| 1 Jan 2025 | $3.8B | $2.0B – $5.8B | $3.8B (0%) | after a round | 1,800 | growing | B | 0% |
| 1 Feb 2025 | $3.8B | $2.0B – $5.8B | $3.8B (0%) | after a round | 1,800 | growing | B | 0% |
| 1 Mar 2025 | $3.8B | $2.1B – $5.8B | $3.8B (0%) | after a round | 1,800 | growing | B | 0% |
| 1 Apr 2025 | $3.8B | $2.0B – $5.8B | $3.8B (0%) | after a round | 1,800 | growing | B | 0% |
| 1 May 2025 | $3.8B | $1.5B – $5.8B | $3.8B (0%) | after a round | 1,800 | up | C | 0% |
| 1 Jun 2025 | $3.8B | $1.5B – $5.8B | $3.8B (-1%) | after a round | 1,800 | up | C | 0% |
| 1 Jul 2025 | $3.8B | $2.0B – $5.8B | $3.8B (0%) | after a round | 1,999 | growing | B | 0% |
| 1 Aug 2025 | $3.8B | $2.0B – $5.8B | $3.8B (0%) | after a round | 1,999 | growing | B | 0% |
| 1 Sep 2025 | $3.8B | $2.0B – $5.8B | $3.8B (0%) | after a round | 2,102 | growing | B | 0% |
| 1 Oct 2025 | $3.8B | $1.4B – $5.8B | $3.8B (0%) | after a round | 2,102 | up | C | 0% |
| 1 Nov 2025 | $3.8B | $1.3B – $5.8B | $3.8B (-1%) | after a round | 2,102 | up | C | 0% |
| 1 Dec 2025 | $3.8B | $2.0B – $5.8B | $3.8B (0%) | after a round | 2,191 | growing | B | 0% |
| 1 Jan 2026 | $3.8B | $2.0B – $5.8B | $3.8B (0%) | after a round | 2,191 | growing | B | 0% |
| 1 Feb 2026 | $3.8B | $1.3B – $5.8B | $3.8B (-1%) | after a round | 2,191 | up | C | 0% |
| 1 Mar 2026 | $3.8B | $1.2B – $5.8B | $3.8B (-1%) | after a round | 2,191 | up | C | 0% |
| 1 Apr 2026 | $3.8B | $1.7B – $5.8B | $3.8B (0%) | after a round | 2,414 | growing | C | 0% |
| 1 May 2026 | $3.8B | $1.7B – $5.8B | $3.8B (0%) | after a round | 2,478 | growing | C | 0% |
| 1 Jun 2026 | $3.8B | $1.7B – $5.8B | $3.8B (0%) | after a round | 2,478 | growing | C | 0% |
| 1 Jul 2026 | $3.8B | $1.7B – $5.8B | $3.8B (0%) | after a round | 2,478 | growing | C | 0% |
| 1 Aug 2026 | $3.8B | $852M – $5.7B | $3.7B (-3%) | after a round | 2,478 | up | C | 0% |
| 1 Sep 2026 | $3.8B | $825M – $5.7B | $3.7B (-3%) | after a round | 2,478 | up | C | 0% |
| 1 Oct 2026 | $3.8B | $1.6B – $5.8B | $3.8B (0%) | after a round | 2,912 | growing | C | 0% |
| 24 Oct 2026 | $3.8B | $1.6B – $5.8B | $3.8B (0%) | after a round | 2,912 | growing | C | 0% |
Key facts about Kredivo Group
- Founded
- 2015
- Headquarters
- Special Capital Region of Jakarta, Indonesia
- Employees
- about 2,910 +39% in a year
- Total raised
- $480M
- Funding rounds
- 4
- Last round
- Series D Mar 2023
Kredivo Group was founded in 2015 by Akshay Garg, Alie Tan and Umang Rustagi.
Kredivo Group funding history
Kredivo Group has 4 funding rounds on record, from Sep 2019 to Mar 2023, $480M in total. None disclosed a valuation.
Series D 23 Mar 2023
Led by Mizuho Financial Group Inc.; with Square Peg, Jungle Ventures, Naver Corp., GMO VenturePartners, Openspace Capital.
Sources: finovate.com, startupstorymedia.com, kredivocorp.com
$270M
$100M
Series C 2 Dec 2019
Led by Asia Growth Capital Management, Square Peg; with Singtel Innov8, Telkomsel Ventures, Cathay Innovation, Kejora Capital, Mirae Asset Securities, Reinventure, DST Global.
Sources: kredivocorp.com, crowdfundinsider.com, fintechnews.sg and 4 more
$90M
Debt 4 Sep 2019no round page
Led by Partners for Growth.
Sources: kredivocorp.com, crowdfundinsider.com
$20M
Kredivo Group investors
16 investors have backed Kredivo Group; Square Peg, Asia Growth Capital Management and Mizuho Financial Group Inc. and 1 more led at least one round.
- Mizuho Financial Group Inc. lead
- Partners for Growth lead
- DST Global
- Mirae Asset Securities
- Naver Corp.
- Singtel Innov8
What Kredivo Group does
Kredivo Group works in loans & financing, with 13 recorded offerings and customers in financial services and e-commerce.
PT FinAccel Teknologi Indonesia, known as Kredivo Group, is an Indonesian financial technology company that provides digital financial services, including instant credit financing, personal loans, and digital banking solutions. The company operates through its brands Kredivo, KrediFazz, and Krom, serving ecommerce merchants, individual consumers, and financial services providers in Southeast Asia. Kredivo Group also manages the Indonesian neobank Krom and offers credit risk scoring and automation through data analytics. The company is regulated by the OJK in Indonesia and has a global presence with offices in Singapore, Vietnam, the Philippines, Thailand, and India.
Description from Veridion's company data.
Products and services
- Digital Financial Services
- Instant Credit Financing Services
- Personal Loan Services
- Digital Banking Services
- E-commerce Purchase Financing Services
- Offline Purchase Financing Services
- Credit Risk Scoring Solutions
- Real-Time Credit Decisioning Services
- Merchant Point of Sale Financing Services
- Earned Wage Access Services
- Financial Inclusion Solutions
- Financial Services Product Development
- International Financial Services Expansion
Markets
- Financial Services
- E-commerce
Technology
- Real-Time Credit Risk Scoring Algorithms
Business model
- Business-to-Business
- Business-to-Consumer
- Service Provider
Industry codes (NAICS)
- 522291 Consumer Lending 70% match
- 522110 Commercial Banking 30% match
Questions about Kredivo Group
What is Kredivo Group worth?
Valuation $3.8B (range $1.6B to $5.8B), as of 24 Oct 2026.
Has Kredivo Group raised money?
Kredivo Group has 4 funding rounds on record, from Sep 2019 to Mar 2023, $480M in total. None disclosed a valuation.
Who has invested in Kredivo Group?
Square Peg, Asia Growth Capital Management, Mizuho Financial Group Inc., Partners for Growth, Cathay Innovation and DST Global, and 10 more. Lead investors include Square Peg, Asia Growth Capital Management, Mizuho Financial Group Inc. and Partners for Growth.
How many people work at Kredivo Group?
About 2,910, up 39% over the last year. Headcount grew from 1,300 in Oct 2023 to 2,912 in Sep 2026.
What does Kredivo Group do?
Kredivo Group works in loans & financing, with 13 recorded offerings and customers in financial services and e-commerce. Its main offerings are digital financial services, instant credit financing services and personal loan services.
When was Kredivo Group founded, and where is it based?
Kredivo Group was founded in 2015 and is based in Special Capital Region of Jakarta, Indonesia. It has about 2,910 employees, up 39% over the last year.