Kredivo, the leading digital credit platform for retail borrowers across Indonesia, and Victory Park Capital Advisors announced the expansion of the initial US$100 million debt facility closed in July 2020 to a new total of US$200 million. The capital will be used to fund consumer loans for Kredivo's borrowers in Indonesia.

The deal marks major milestones for both firms. For Kredivo, it is the company's largest loan facility, and for VPC, it is now their largest debt commitment to a fintech firm outside of the US and Europe. It also represents a major milestone for the digital credit ecosystem in Indonesia and Southeast Asia. While the unsecured credit industry is primarily fuelled by peer-to-peer lending models, the transaction between VPC and Kredivo, which operates as a multi-finance company, represents one of the largest asset-backed securities transactions for unsecured lending in the country to date.

The additional capital will further propel the tremendous momentum that Kredivo has enjoyed since the finalization of the original facility in 2020 , with strong growth and stable risk metrics across its portfolio. Umang Rustagi, CEO of Kredivo Indonesia, said, "The large capital pool made available via this facility increase will enable the business to scale further in 2021 and beyond and get us closer to our goal of serving up to 10 million customers in Indonesia over the next few years."

Gordon Watson, partner at VPC, said, "We have been impressed with the resilience and growth of the business and look forward to deepening our partnership with Kredivo. The company presents a unique combination of growth, scale, risk management and financial inclusion in one of the most exciting emerging markets in the world."