FinVolution Secures $32M Funding for AdaKami Through Super Bank Partnership in Indonesia
Benzinga Newsdesk 2 years ago
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FinVolution Group ("FinVolution," or the "Company") (NYSE:FINV), a leading fintech platform, today announced that its Indonesian financial application, AdaKami, has entered into a strategic funding agreement with PT
FinVolution Group ("FinVolution," or the "Company") (NYSE:FINV), a leading fintech platform, today announced that its Indonesian financial application, AdaKami, has entered into a strategic funding agreement with PT Super Bank Indonesia, a leading digital-focused bank in Indonesia.
Under the terms of the agreement, Superbank will provide AdaKami with a funding facility of 500.0 billion Rupiah (approximately US$32.0 million). This funding arrangement highlights AdaKami's recognition by a leading local bank following its successful transition to serving better-quality borrowers. With this agreement, Superbank will become AdaKami's strong funding partner in Indonesia, validating Adakami's successful strategy of transition to better-quality borrowers. Currently, AdaKami has established cooperation with multiple lenders including Superbank, Seabank, Bank Jago, Bank Permata, OCBC NISP among others.