Finvolution Secures Increased Financing Facility For Adakami Through Strengthened Cooperation With Pt Bank Jago
Finvolution Secures Increased Financing Facility For Adakami Through Strengthened Cooperation With Pt Bank Jago
09/26/22, 10:03 AM
Location
shanghaiIndustry
lending
fintech
finance
financial services
FinVolution Group ("FinVolution," or the "Company") ( NYSE: FINV), a leading fintech platform, today announced that its Indonesian subsidiary, AdaKami, obtained a fivefold increase in its financing facility with PT Bank Jago Tbk ("Bank Jago") (IDX: ARTO). The increase from 100 billion Rupiah to 500 billion Rupiah (US$34.9 million) will enhance AdaKami's ability to expand credit access to broader segments of the local economy and accelerate financial inclusion in the country.
Company Info
Location
shanghai, shanghai, china
Additional Info
About Us
FinVolution Group (NYSE: FINV), formerly know as PPDAI Group Inc is a leading fintech platform in China connecting underserved individual borrowers with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed strong innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platform, empowered by proprietary cutting-edge technologies such as Magic Mirror, Complex network fraud detection, Virtual customer service/collection agent feature a highly automated loan transaction process, which enables a superior user experience. FinVolution strategically focuses on serving borrowers between the ages of 20 and 40, a demographic segment typically more receptive to internet financial services and position to become the driving force behind China’s consumer finance services. As of September 30, 2020, the Company had over 112.8 million cumulative registered users.