Telkom Indonesia's corporate venturing unit has added to the PIPE financing supporting consumer credit provider FinAccel's reverse takeover.

MDI Ventures, the corporate venturing arm of telecommunications firm Telkom Indonesia, agreed on Wednesday to contribute to the private placement backing Singapore-based consumer credit provider FinAccel’s reverse takeover.

Founded in 2015, FinAccel is the owner of instalment finance provider Kredivo, and had raised a total of at least $120m in equity funding as of its $90m series C round in late 2019.

FinAccel agreed the merger with special purpose acquisition company VPC Impact Acquisition Holdings II in August…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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