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Oriente : Has Raised $50 Million For Its Ongoing Series B Round !

Oriente - a fintech startup

Oriente a fintech startup founded in 2017 and based on Hongkong. Former Skype executive Geoffrey Prentice cofounded the startup. Along with cofounders Hubert Tai, former CTO & COO at LU.com and Lawerecce Chu, founder of BlackPine Private Equity.

It raised $50 million funding in the Series B funding round. Henderson Land’s co-chairman Dr Peter Lee led the funding process. Israeli software company Wix.com and other existing investors joined it.

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In 2018, Oriente raised $105 million from its founders along with another family office. The office includes Malaysia’s Berjaya Group, Philippines’s JG Summit Holdings, and Indonesia’s Sinar Mass. In this year, Silverhorn Group announced a $50 million debt facility for this startup.

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About Oriente

Oriente is a parent company of Finmas, Finizi, and Cashalo. These are leading online lenders in countries like Indonesia, Vietnam, and the Philippines, respectively. This company covers digital credit, real-time credit scoring, offline-to-online consumer finance. Also it provides working capital for small startups and POS landings.

Oriente Raises US$105 million Funding | News Hub Asia

This startup has 700 percent growth in transactions from last year. And also see 20 percent growth in merchant sales. It serves over 5 million consumers and 1000 merchants in its current markets. Philippines and Indonesia are the two strongest markets for the company.

Geoffrey Prentice stated, Oriente experience a significant growth in the last 12 months. The investment will help them to step forward in the sector during this time of economic turmoil. He also added Southeast Asia has a great economic potential. And they are excited to unlock the huge power of financial services infrastructure in the region.

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The startup expects to invest the capital to expand markets in the countries of SEA. Also, it will invest in technology infrastructure and big-data capabilities.

For more news about startup in SEA read – Igloo Raised $8.2 Million As Insurance-Tech Startup As Broaden Its Foothold In Half A Dozen Southeast Asian Markets! Β 

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