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.
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.
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.
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.
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!