Singapore-based lending startup FinAccel revealed Monday, Dec 2, it has secured a $90 million capital in a Series C equity funding round led by Asia Growth Fund and Square Peg. The fundraising round marks one of the largest funding rounds for a fintech startup in Southeast Asia and brings the total capital raised by the company this year alone to over $200 million.

In a press release, the fintech startup revealed it will be using the newly-accumulated fund to expand its range of financial services in Indonesia, accelerate its growth in the Southeast Asian region, and hire new talents that will benefit the company.

Other investors who have participated in the Series C fundraise include Singtel Innov8, Telkomsel Indonesia, Cathay Innovation, Kejora Intervest, Mirae Asset Securities, Reinventure, DST Partners, and others.

FinAccel Series C Equity Funding

“We are very excited to have Mirae Asset and Naver join our growth journey,” shared FinAccel CEO, Akshay Garg, in a statement. “These highly entrepreneurial companies bring deep domain expertise in financial services and consumer internet, Kredivo sits at the intersection of both areas. Additionally, we are very pleased that our incoming investors share in our vision of building a wide set of financial services that are fast, affordable and accessible for millions of customers in the region.”

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Founded in 2015, FinAccel operates as a financial technology company that enables customers to buy online and pay later using the credit lending app Kredivo. To date, the company already evaluated 3 million applications and disbursed almost 30 million loans.

“We have been really impressed with the team’s progress since we invested last year, and it was an easy decision to support strongly again. It is rare to find such a strongly values-led and culture-focused company in the region that is also experiencing tremendous growth while improving the financial services ecosystem,” commented Tushar Roy, Partner at Square Peg.

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A Filipino-Chinese, Maricar Sze is highly educated and well travelled. With a Bachelor of Science in Computer Studies majoring in Information Technology. She is a business owner providing services to small to medium businesses in Australia. In earlier years, Maricar worked for American companies Verizon and MCI in Technical Support activities. Over some 8+ years in the SEO industry, Maricar is also a Google Certified Ads Specialist. With skills and expertise, she is responsible for shaping and implementing website optimisation, content marketing, PPC and quality measures for digital campaigns. Other interests include travelling, watching Netflix, and frequently volunteers at children hospitals or shelters.