Oriente collects $105m for its initial round of funding

Oriente, a FinTech solution developer aimed at financial inclusion in Asia, has collected $105m in its initial round of funding.

Investors to the round included the company’s founders, and a group of family offices. Some of the family offices to invest were members from the Berjaya Group, JG Summit Holdings, and Sinar Mas.

This deal marks one of the largest initial rounds of funding of a startup in Asia, and a FinTech company, globally.

Hong Kong-based Oriente is a financial services and technology solution developer which has the goal of improving financial inclusion across Asia. The company uses AI, machine learning and data science to offer real-time credit scoring, digital and O2O lending.

Through the financing, Oriente is hoping to increase technology and product development, scale its multi-market operations and introduce its solutions to new markets across Southeast Asia.

Oriente co-founder Geoffrey Prentice said, “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.”

The company was founded in 2017 by former Skype co-founder Geoffrey Prentice, former LU.com founding CTO and COO Hubert Tai, and BlackPine Private Equity founder Lawrence Chu.

Earlier in the year, Oriente invested into and launched mobile-based financing solutions Cashalo and Finmas, which were deployed in the Philippines and Indonesia, respectively. These solutions are designed to give micro, small and medium sized businesses with easy access to affordable credit lines. Consumers simply access the mobile app, apply for a loan and can receive financing within minutes.

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