AsiaKredit is a digital consumer lender focused on Southeast Asia that offers unsecured small-ticket, short-term consumer loans via its mobile app, pera247. Pera247 launched in the Philippines in November last year and provides loans for up to 90 days to the over 80 million unbanked and underbanked with limited or no banking history. The company uses data-driven credit assessment tools to analyze mobile behavioral data and other alternative sources to make fast and reliable credit decisions. Within six months of its launch AsiaKredit processed over 100,000 loan applications. Customers can withdraw funds and make payments through more than 10,000 cash centers. The company intends to use new funds for loan capital, to enhance its proprietary technology platform, expand underwriting and collections infrastructure, and launch new products. AsiaKredit is led by CEO and co-founder Michael Singh.

Total raised

$3M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2018