Wallets/kredivo
Kredivo
0 standards supported
Overview
Kredivo is Indonesia's leading buy-now-pay-later (BNPL) and digital-credit platform, operated by FinAccel under the Kredivo Group [1]. Launched in 2016, Kredivo provides instant instalment financing and a revolving credit line to consumers at e-commerce and offline merchants, using AI-driven credit scoring tied to national-ID (KTP) verification. It is a market leader in Indonesia and has expanded into Vietnam [1, 2].
History
2016 — Launched by FinAccel [1] in Jakarta, founded by Akshay Garg, Alie Tan and Umang Rustagi.
2018-2020 — Scale-up in Indonesia [1]: Integration with major e-commerce platforms (Tokopedia, Shopee, Lazada, Bukalapak) and offline retail.
2021 — Vietnam launch [2]: Kredivo enters Vietnam through a joint venture.
2021-2022 — SPAC plan + Square Peg / Mirae Asset backing [2]: A planned US SPAC listing (later shelved amid market conditions) and large equity/debt rounds funded growth.
2022-2025 — Kredivo Group + digital-bank ambitions [1]: FinAccel rebrands under Kredivo Group, deepening banking partnerships (e.g., Krom Bank Indonesia) to fund lending.
Ownership & operator
Operating entity: FinAccel (Kredivo Group), Singapore-incorporated with primary operations in Indonesia.
Founders: Akshay Garg (CEO), Alie Tan, Umang Rustagi.
Major investors: Mirae Asset, Naver, Square Peg, Jungle Ventures, GMO Venture Partners, Victory Park Capital (debt).
Regulators:
- Indonesia: OJK (Otoritas Jasa Keuangan) under multifinance/consumer-credit licensing.
- Vietnam: State Bank of Vietnam framework via local JV.
Technical integration
Kredivo is a digital-credit-line + instalment BNPL [1]:
| Layer | Description |
|---|---|
| Channels | Kredivo app (iOS + Android) + merchant checkout |
| Identifiers | Email + phone number + national ID (KTP) |
| Core products | Pay in 30 days (0%), 3/6/12-month instalments, revolving credit line |
| Card network | Visa / Mastercard (virtual card overlay) |
| Underwriting | AI/ML credit scoring with KTP + e-KYC |
Implementations & partners
Operator: FinAccel (Kredivo Group).
Markets: Indonesia, Vietnam.
Merchant partners: Tokopedia, Shopee, Lazada, Bukalapak, Blibli and offline retail.
Competitors: [[atome]], Akulaku, ShopeePay Later, GoPay Later (GoTo), Indodana, Home Credit.
Status
Active, leading Indonesian BNPL/digital-credit [1, 2]:
- FinAccel (Kredivo Group).
- Market leader in Indonesia; present in Vietnam.
- Expanding into digital banking via Krom Bank Indonesia.
Sources
Source
Biography extracted from kredivo.md. See matrix.md for standards-support matrix if present.