Indonesian FinTech company Skor Technologies, the creator of Skorlife and Skorcard, has raised $6.2m in a pre-Series A funding round led by Argor Capital.
The round also saw participation from both existing investors, including QED Investors and Saison Capital, as well as new backers such as Digital Currency Group, according to a report from e27.
This latest funding brings Skor’s total capital raised to over $12m. The new funds will support the company’s growth plans, including scaling its operations, expanding its team with key talent, and achieving its ambitious target of crossing $100m in transaction volume by 2025.
Skor Technologies is dedicated to tackling Indonesia’s underpenetrated consumer credit market. With credit card usage in the country at less than 3%—a stark contrast to neighbouring nations such as Thailand at 8% and Malaysia at 20%—Skor sees significant potential to improve financial inclusion.
Skor Technologies is tackling some of Indonesia’s most significant challenges in financial inclusion and credit access through the strategic use of advanced technology and data.
Central to the company’s mission is a commitment to building trust with its customers. Its first product, Skorlife, launched in 2022, is a free financial planning app designed to help Indonesian consumers manage their financial reputation. In 2024, Skor introduced Skorcard, an innovative credit card solution that reimagines how consumers engage with credit cards.
The company’s previous funding rounds include a $4m seed round led by Hummingbird Ventures in 2023.
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