Oriente raises US$20M, Grab Ventures Velocity launches 3rd batch
Oriente, a tech and data science startup that seeks to create opportunity through financial access for Southeast Asia, announced today it has secured US$20 million debt funding from Silverhorn Group, a Hong Kong-based multi-asset investment firm.
The funding, which can increase up to US$50 million, will be used to grow Oriente’s loan book and extend the reach of its inclusive and affordable digital-credit and Pay Later solutions to the undervalued and credit-starved consumers and micro-enterprises in the Philippines.
Commenting on the deal, Geoffrey Prentice, Co-founder of Oriente, said: “As we enter the next stage of growth on our mission to helping ignite economic opportunity for tens of millions of consumers and micro-enterprises, the support we receive from our debt partners is critical.”
Headquartered in Hong Kong, Oriente is building solutions that provide real-time credit scoring, digital and O2O lending and other tailored financial services to millions in Southeast Asia’s fastest-growing economies. The company has two app-based ventures, Cashalo in the Philippines and Finmas in Indonesia.
Oriente is equity-funded by its founders and a group of family offices including members of the Berjaya Group, JG Summit Holdings, Inc., and Sinar Mas. To date, the company has raised over US$105 million in equity.