Kredivo Ready to Recruit 100 New Engineers

Kredivo and its system company, KrediFazz, have just announced their plans to recruit 100 new engineers from mid to senior level in the next month. This step is taken considering the increasingly exciting growth of the fintech industry and the company’s actions are also increasingly aggressive.

“As the company continues to grow both in Indonesia and at the regional level, we need more of the best engineers in Indonesia to continue developing innovations that will serve tens of millions of users in Indonesia in the future,” said FinAccel Group CTO, Alie Tan, Friday (12/11/2021).

Alie further said that his party will provide an innovative, stimulating, and nurturing environment so that engineers feel comfortable working. The company will also provide incentives that are fairly high in the industry.

But not only that, new engineers who join Kredivo and its sister company will also get a series of attractive packages as signing bonuses, starting from the 16-inch MacBook Pro, Samsung Galaxy Note 10 Plus, Bose Headphones, Samsung Galaxy Watch, to Yamaha R25.

The company will also provide an ESOP (Employee Stock Option Plan) for all employees because the company is currently in the IPO listing process. Information regarding this registration can be accessed through the official FinAccel website.

For information, Kredivo’s parent company, FinAccel, together with VPC Impact Acquisition Holdings II (VPCB) as a Special Purpose Acquisition Company (SPAC) with the support of Victory Park Capital (VPC) have just announced that they have entered the stage of a definitive agreement for their business merger.

This merger will later bring FinAccel to a public company with a valuation of up to USD 2.5 billion, assuming no redemption. The transaction is expected to generate more than USD 430 million in cash on the combined company balance sheet.

Kredivo Holding Company Ready to Go Public through SPAC Scheme

“As the leading Buy Now Pay Later platform in Indonesia, Kredivo has built strong credibility in the fast-growing point-of-sales-based financing industry in Indonesia,” said FinAccel Co-Founder and CEO, Akshay Garg in an official statement, Tuesday (3/3). /8/2021).

“This is a great opportunity for Kredivo to meet various credit needs such as cash loans, and to realize our vision of encouraging fast, affordable, and easily accessible credit access to tens of millions of consumers in Southeast Asia,” he said.

For information, Kredivo is a Buy Now, Pay Later platform in Indonesia and has plans to expand to regional markets, such as Vietnam and Thailand in the near future.

Partner merchants who work with Kredivo are said to be able to double the average number of purchases and increase the frequency of transactions by up to three times. VPC is a global investment firm that has a long track record in managing capital and equity financing transactions.

The collaboration with Kredivo has also been around for a long time, with the provision of credit facilities of USD 100 million in July 2020 and increasing it to USD 200 million in June 2021.

Kredivo Gets Additional Funds of IDR 1.4 Trillion from Victory Park Capital

To note, Kredivo has just received an additional injection of USD 100 million (equivalent to IDR 1.4 trillion) from Victory Park Capital (VPC). Previously in July 2020, Kredivo and had received credit line funding from Victory Park Capital with a value of USD 100 million.

With this new funding, the total value of the credit line from VPC increased to USD 200 million (equivalent to IDR 2.8 trillion). This credit fund is planned to be distributed by Kredivo to its users in Indonesia. For Kredivo, credit line funding from VPC is the largest to date.

As for VPCs, funds to Kredivo are the largest line of credit ever disbursed to fintech companies outside the United States and Europe. This collaboration is also historic for the digital credit ecosystem in Indonesia and Southeast Asia.