Oriente, the Hong Kong-based financial services and technology company, announced earlier this week it secured $105 million through its initial funding round. The round included investment from the founders and a group of family offices such as members of the Berjaya Group, JG Summit Holdings, Inc., and Sinar Mas. The round ranks as one of the largest initial funding rounds by any startup in Asia, and also for a FinTech company worldwide.
Established in 2017 by the co-founders of revolutionary internet companies Skype and LU.com, Oriente describes itself as a financial services and technology company that is committed to unlocking financial inclusion for underserved communities in emerging Asia through a variety of bespoke-to-market digital and O2O financial solutions built around mobile technology.
“Oriente’s products use AI, machine learning, and data science to provide real-time credit scoring, on-demand lending and other tailored financial solutions to millions of undervalued people in emerging markets. Our first venture, Cashalo, is a consumer lending mobile-app in the Philippines that gives customers access to credit when they want using hundreds of alternative data points. Head to cashalo.com to learn more. Our second venture, Finmas, is a digital-lending platform built to unlock financial access for millions of individuals and MSMEs in Indonesia.”
Funds from the investment round is being used to accelerate technology and product development, scale multi-market operations, and power the growth of Oriente’s digital solutions into new markets, expanding its reach to millions of new customers in Southeast Asia’s fastest-growing economies. Speaking about the investment, Geoffrey Prentice, Co-Founder of Oriente, added:
“Oriente was founded on the principles of inclusion and innovation to open financial access, freedom and opportunity for underserved people and microentrepreneurs, helping them build financial identities and participate in the global economy. Unlocking potential is our mantra, and we are thrilled to have such phenomenal investors and partners who share our commitment to building a future where people everywhere have access to the credit infrastructure and services they deserve.”