Kredivo has received up to 3 trillion rupiah ($178 million) in loan commitments from Bank DBS Indonesia, while Dash Electric has received additional investment from a new investor.
DBS Indonesia ramps up financing for Kredivo
Indonesian fintech lending unicorn Kredivo has received up to 3 trillion rupiah ($178 million) in loan commitment from Bank DBS Indonesia to support its lending business for SMEs.
The facility has been gradually increased since the partnership began in 2020, starting from 300 billion rupiah, rising to 1 trillion rupiah in 2021, 2 trillion rupiah in 2022, and reaching 3 trillion rupiah most recently.
Melinda Gultom, consumer banking director of PT Bank DBS Indonesia, stated in a statement that the increase in capital commitment reflects Kredivo’s consistent credit distribution performance and growing market demand. She added that the collaboration with digital lending platforms is part of the bank’s strategy to provide adaptive and responsible financing solutions.
Kredivo said the additional facility will be used to finance various needs, from daily necessities, health, education, to productive needs, particularly in tier 2 and 3 cities, which are considered to have significant growth potential but remain underpenetrated by formal credit.
“With the support of Bank DBS Indonesia, we can accelerate our expansion and provide more inclusive credit access for the community,” said Umang Rustagi, co-founder and president director of Kredivo Indonesia.
Sagana invests in Dash Electric
Dash Electric has received additional investment from Sagana, which joined as a new investor in an extension of the seed funding round announced in 2024. Financial details were not disclosed.
The seed round was co-led by climate-focused The Radical Fund and Bali Investment Club. Other participants in the round include Schneider Electric Energy Access Asia, Antler, Aksara Ventures, and Gojek co-founder Kevin Aluwi.
“For consumer-facing industries like e-commerce and F&B, last-mile delivery is a major operational challenge,” Sagana said in a LinkedIn post, citing fleet ownership, driver management, and rising logistics costs as key pain points.
Dash Electric offers a fully managed EV-as-a-Service model, enabling enterprises to replace fuel-based fleets with electric vehicles without upfront capital expenditure.
Founded in 2023 by GoTo and DHL alumni Aditya Brahmana and Robert Muliant, Dash Electric has partnered with platforms such as Lazada, Zalora, JNE, Janji Jiwa, and Sayurbox, employs over 500 drivers.
