Funding round
Kredivo Group Series C
Kredivo Group, which works in digital financial services in Special Capital Region of Jakarta, raised $90M in a Series C round announced on 2 Dec 2019, led by Asia Growth Capital Management and Square Peg. 9 firms took part. It is Kredivo Group's first venture round on record.
$90M
Amount raised
Not disclosed
Post-money valuation
9
Investors
2 leads
Valuation
What this round says about the price
Kredivo Group did not disclose a valuation in this round. It is Kredivo Group's first venture round on record, 4 years after it was founded in 2015. It is 25% of the $360M Kredivo Group has raised in the venture rounds on record. Kredivo Group raised again 39 months later: a Series D round of $270M in Mar 2023.
Kredivo Group's funding rounds
Kredivo Group has 2 venture rounds on record and 2 other deals. This one is highlighted.
- Debt not a venture round 4 Sep 2019, led by Partners for Growth $20M
- Series C this round 2 Dec 2019, led by Asia Growth Capital Management and Square Peg $90M
- Debt not a venture round 24 Nov 2020 $100M
- Series D 23 Mar 2023, led by Mizuho Financial Group Inc. $270M
Investors
Who put money in
Asia Growth Capital Management and Square Peg led the round with 7 other firms.
Lead investors
- backs 2 venture-backed companies new investor
- backs 55 venture-backed companies new investor
Also in the round
- Singtel Innov8 new investor
- backs 6 venture-backed companies new investor
- backs 61 venture-backed companies new investor
- backs 10 venture-backed companies new investor
- Mirae Asset Securities new investor
- backs 19 venture-backed companies new investor
- DST Global backs 179 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
14 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $36M, and this round was 2.5 times the median. The closest in time, other companies' Series C rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Octane Loans & Financing | 1 Nov 2019 | $70M | $400M | Valar Ventures |
| Loans & Financing | 22 Jan 2020 | $30M | not disclosed | Simcah Management LLC |
| Loans & Financing | 28 Oct 2019 | $60M | not disclosed | Colchis Capital |
| Loans & Financing | 22 Oct 2019 | $48M | not disclosed | Square Peg and Airtree |
| Loans & Financing | 14 Oct 2019 | $23M | not disclosed | NH Investment & Securities |
| Loans & Financing | 19 Feb 2020 | $20M | not disclosed | Altos Ventures and Conductive Ventures |
| Loans & Financing | 9 Oct 2019 | $10M | not disclosed | Airtree |
| Fundbox Loans & Financing | 24 Sep 2019 | $176M | not disclosed | Allianz X and Healthcare of Ontario Pension Plan |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Kredivo Group raise in its Series C round?
Kredivo Group raised $90M in its Series C round, announced in Dec 2019.
Who led Kredivo Group's Series C round?
Asia Growth Capital Management and Square Peg led it, with Singtel Innov8, Telkomsel Ventures, Cathay Innovation, Kejora Capital and Mirae Asset Securities and 2 more.
What was Kredivo Group's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Loans & Financing?
14 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $36M, and this round was 2.5 times the median.
Did Kredivo Group raise again after this round?
Yes: a Series D round in Mar 2023 of $270M.