Funding round
Kredivo Group Series D
Kredivo Group, which works in digital financial services in Special Capital Region of Jakarta, raised $270M in a Series D round announced on 23 Mar 2023, led by Mizuho Financial Group Inc.. 6 firms took part. It is Kredivo Group's second venture round on record; the one before was a Series C in Dec 2019.
$270M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Kredivo Group did not disclose a valuation in this round. It came 39 months after Kredivo Group's Series C. It is 75% of the $360M Kredivo Group has raised in the venture rounds on record. No later venture round is on record for Kredivo Group.
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 2 Dec 2019, led by Asia Growth Capital Management and Square Peg $90M
- Debt not a venture round 24 Nov 2020 $100M
- Series D this round 23 Mar 2023, led by Mizuho Financial Group Inc. $270M
Investors
Who put money in
Mizuho Financial Group Inc. led the round with 5 other firms.
Lead investor
- Mizuho Financial Group Inc. new investor
Also in the round
- backs 55 venture-backed companies new investor
- backs 37 venture-backed companies new investor
- Naver Corp. new investor
- backs 32 venture-backed companies new investor
- backs 28 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, working capital and acquisitions.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
- Acquisitions
Comparable rounds
How it compares
8 Series D rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 3.4 times the median. The closest in time, other companies' Series D rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 24 Mar 2023 | $270M | not disclosed | Mizuho Bank |
| Loans & Financing | 8 Mar 2023 | $110M | not disclosed | Premji Invest |
| KreditBee Loans & Financing | 2 Dec 2022 | $80M | not disclosed | Premji Invest |
| Loans & Financing | 15 Dec 2022 | $36M | not disclosed | FMO |
| Loans & Financing | 3 Oct 2022 | $80M | $855M | Sway Capital |
| Loans & Financing | 30 Aug 2022 | $110M | $300M | TPG and Norwest |
| Clearco Loans & Financing | 4 Oct 2023 | $60M | not disclosed | Inovia and Founders Circle Capital |
| Loans & Financing | 10 Nov 2023 | $60M | $1.05B | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Kredivo Group raise in its Series D round?
Kredivo Group raised $270M in its Series D round, announced in Mar 2023.
Who led Kredivo Group's Series D round?
Mizuho Financial Group Inc. led it, with Square Peg, Jungle Ventures, Naver Corp., GMO VenturePartners and Openspace Capital.
What was Kredivo Group's valuation at the Series D round?
It was not disclosed.
How does it compare with other Series D rounds in Loans & Financing?
8 Series D rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 3.4 times the median.