{"id":1330,"date":"2021-06-23T00:00:00","date_gmt":"2021-06-23T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-279-kredivo-bags-another-us100m-debt-facility-eyes-10m-customers-grassroots\/"},"modified":"2021-08-02T07:37:25","modified_gmt":"2021-08-02T07:37:25","slug":"durians-daily-279-kredivo-bags-another-us100m-debt-facility-eyes-10m-customers-grassroots","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=1330","title":{"rendered":"Daily Markup #279: Kredivo bags another US$100M debt facility, eyes 10M customers; Grassroots gamers to organize their own tournaments on ESPL; RedDoorz discusses its COVID-19 response on NYSE Floor Talk"},"content":{"rendered":"<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1390\" data-height=\"926\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db264cda5.jpg\"><figcaption class=\"wp-caption-text\">Credit: Alfred Junus Verdio \/ EyeEm \/ Getty\u00a0Images<\/figcaption><\/figure>\n<p><strong>Doubling up<\/strong><\/p>\n<ul>\n<li>500-backed fintech startup <a href=\"https:\/\/www.kredivo.com\/\" target=\"_blank\" rel=\"noopener\">Kredivo<\/a> has secured another US$100 million debt facility from Victory Park Capital (VPC). According to <a href=\"https:\/\/techcrunch.com\/2021\/06\/21\/buy-now-pay-later-startup-kredivo-doubles-its-debt-facility-from-victory-park-capital-to-200m\/\" target=\"_blank\" rel=\"noopener\">TechCrunch<\/a>, this is VPC\u2019s biggest debt commitment to a fintech company outside of the United States and Europe and its only investment in Southeast Asia.<\/li>\n<li>Kredivo will use the debt facility to help achieve its goal of serving 10 million customers in Indonesia. The startup claims to have more than three million customers currently.<\/li>\n<li>\u201cWhat we\u2019re solving is less a convenience problem and more an access problem. We\u2019re putting unsecured credit, or the ability to buy on credit, in the hands of urban millennials for the first time, simply because banks are just not providing them access to credit cards,\u201d said CEO Akshay Garg.<\/li>\n<li>He added that Kredivo\u2019s effective risk-scoring model allows the platform to charge low interest rates, and its non-performing loan ratio is in the low single-digits, despite the economic impact of COVID-19.<\/li>\n<li>Read the full article on TechCrunch <a href=\"https:\/\/techcrunch.com\/2021\/06\/21\/buy-now-pay-later-startup-kredivo-doubles-its-debt-facility-from-victory-park-capital-to-200m\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1600\" data-height=\"1066\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db2707402.jpg\"><figcaption class=\"wp-caption-text\">Credit: Fredrick Tendong on\u00a0Unsplash<\/figcaption><\/figure>\n<p><strong>Widening the playing field<\/strong><\/p>\n<ul>\n<li>Grassroots gamers will soon be able to <a href=\"https:\/\/www.straitstimes.com\/sport\/e-sports-avenue-now-for-grassroots-gamers-to-organise-own-tournament-on-espl\" target=\"_blank\" rel=\"noopener\">organize their own tournaments<\/a> on 500-backed <a href=\"https:\/\/espl.gg\/\" target=\"_blank\" rel=\"noopener\">Esports Players League<\/a>\u2019s (ESPL) platform. According to c-ofounder and president Kin Wai Lau, this feature would be available over the next six months.<\/li>\n<li>Kin Wai shared that the introduction of user-generated tournaments will further its goal to democratize the e-sports space.<\/li>\n<li>\u201cWe will continue to grow our community. We will enhance the platform we have to build more features, grow the team to serve the community better, and move into other geographical markets,\u201d he said.<\/li>\n<li>He also mentioned the possibility of hosting virtual concerts with artistes from the <a href=\"https:\/\/www.musicbusinessworldwide.com\/warner-music-asia-inks-exclusive-deal-with-esports-player-league-espl\/\" target=\"_blank\" rel=\"noopener\">Warner Music Asia label.<\/a><\/li>\n<li>Read the full article on Straits Times <a href=\"https:\/\/www.straitstimes.com\/sport\/e-sports-avenue-now-for-grassroots-gamers-to-organise-own-tournament-on-espl\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1600\" data-height=\"875\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db28776a3.png\"><figcaption class=\"wp-caption-text\">Credit: NYSE Floor\u00a0Talk<\/figcaption><\/figure>\n<p><strong>Offering peace of mind<\/strong><\/p>\n<ul>\n<li>CEO of <a href=\"https:\/\/www.reddoorz.com\/\" target=\"_blank\" rel=\"noopener\">RedDoorz<\/a> Amit Saberwal appeared on NYSE Floor Talk to discuss some of the startup\u2019s <a href=\"https:\/\/www.facebook.com\/NYSE\/videos\/312386510384797\/\" target=\"_blank\" rel=\"noopener\">responses to COVID-19<\/a> and its plans for 2021.<\/li>\n<li>In a time of uncertainty, Amit shared that its <a href=\"https:\/\/www.reddoorz.com\/blog\/ph\/feature-ph\/what-is-hygienepass-certification-program\" target=\"_blank\" rel=\"noopener\">HygienePass<\/a> program gives travelers the assurance that the property they\u2019re staying in has passed a standard of cleanliness.<\/li>\n<li>In 2020, RedDoorz also launched <a href=\"https:\/\/www.jumpstartmag.com\/reddoorz-launches-hope-hotline-a-mental-health-support-programme-for-employees-hotel-partners-and-industry-at-large\/\" target=\"_blank\" rel=\"noopener\">Hope Hotline<\/a>, a mental health hotline for employees and hotel partners to provide an outlet to those affected by the pandemic. He said it did so well that RedDoorz decided to offer the service to the broader tourism industry free of charge.<\/li>\n<li>For 2021, the startup\u2019s priority is to respond to the surge in travel as the pandemic eases in some areas and continue strengthening relationships with property owners.<\/li>\n<li>Watch the full interview on NYSE Floor Talk <a href=\"https:\/\/www.facebook.com\/NYSE\/videos\/312386510384797\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db2902cd3.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.<\/p>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit: Alfred Junus Verdio \/ EyeEm \/ Getty\u00a0Images Doubling up 500-backed fintech startup Kredivo has secured another US$100 million debt facility from Victory Park Capital (VPC). According to TechCrunch, this is VPC\u2019s biggest debt commitment to a fintech company outside of the United States and Europe and its only investment in Southeast Asia. Kredivo will [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":1986,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[344,364,375],"class_list":["post-1330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-espl","tag-finaccel","tag-reddoorz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #279: Kredivo bags another US$100M debt facility, eyes 10M customers; Grassroots gamers to organize their own tournaments on ESPL; RedDoorz discusses its COVID-19 response on NYSE Floor Talk - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=1330\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #279: Kredivo bags another US$100M debt facility, eyes 10M customers; Grassroots gamers to organize their own tournaments on ESPL; RedDoorz discusses its COVID-19 response on NYSE Floor Talk - Markup\" \/>\n<meta property=\"og:description\" content=\"Credit: Alfred Junus Verdio \/ EyeEm \/ Getty\u00a0Images Doubling up 500-backed fintech startup Kredivo has secured another US$100 million debt facility from Victory Park Capital (VPC). 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