The highlights:

  • One of the largest initial funding rounds in Fintech globally
  • Financing set to develop technology, strategic partnerships, and further regional expansion
  • Focused on accelerating financial inclusion for Southeast Asia’s underserved and unbanked

Earlier today we announced a US$ 105 million initial funding round. This included investment from the founders and a group of family offices including members of the Berjaya Group, JG Summit Holdings, Inc., and Sinar Mas.

The financing is being used to accelerate technology and product development, scale multi-market operations, and power the growth of our digital solutions into new markets, expanding its reach to millions of new customers in Southeast Asia’s fastest-growing economies.

We are in prime position to address a clear opportunity: with over 70% of Southeast Asia’s 650+ million still unbanked (according to KPMG), an explosion of interest and investment in the digital lending space recently, and more governments pushing for greater financial inclusion through the adoption of digital platforms and new emergent technologies.

In just a few months, we’ve invested in and rolled out mobile-first ventures in the Philippines (Cashalo) and Indonesia (Finmas), aimed at delivering fast and convenient access to affordable credit for millions of underserved in the emerging middle class and Micro, Small and Medium Enterprises (MSMEs). Anyone with a smartphone in these markets can download these apps, apply for a loan, and receive a decision and financing within minutes.

These ventures have received an overwhelming response and scaled rapidly in their respective markets, with Cashalo reporting faster customer growth than both Skype and Lufax did in their first six months of operations, and Finmas already on-track to surpass even that.

We’re thrilled to have as one of our early investors, Mark Tluszcz, CEO of Mangrove Capital Partners and Chairman of Wix, who said, “How Oriente is using data science and technology to unlock the economic potential of millions of people who are undervalued by traditional financial systems is exciting and meaningful. Oriente’s world-class management team is already on track to transform the lives of millions of consumers.”

Speaking on the occasion, our co-Founder, Geoffrey Prentice said, “Oriente was founded on the principles of inclusion and innovation to open financial access, freedom and opportunity for underserved people and microentrepreneurs, helping them build financial identities and participate in the global economy. Unlocking potential is our mantra, and we are thrilled to have such phenomenal investors and partners who share our commitment to building a future where people everywhere have access to the credit infrastructure and services they deserve.”

Download the full press release here:

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