The fundraising shows that some startups are still finding capital even as the venture industry grapples with rising interest rates, elevated inflation and a tech downturn. Investors, once thrilled to write checks, are becoming more choosy and are doling out less favourable terms. Kredivo’s round is the biggest announced in Asia since Silicon Valley Bank’s collapse shocked the startup ecosystem earlier this month.
Fintech company Kredivo Holdings raised about US$270 million ($385.2 million) in equity financing, defying a market correction that’s made it difficult for many startups to obtain fresh capital.
The Singapore-based firm, formerly known as FinAccel Pte and operator of fintech platform Kredivo and Krom Bank Indonesia, struck a deal for financing led by Mizuho Financial Group Inc., it said in a statement Thursday without disclosing its valuation. Existing investors including Square Peg Capital, Jungle Ventures and Naver Corp. also participated in the Series D round.
