Oriente raises $50m Series B round led by Henderson Land’s Peter Lee

Oriente co-founder Geoffrey Prentice

Hong Kong-based fintech startup Oriente has raised $50 million in its Series B funding round led by Henderson Land’s co-chairman Dr Peter Lee. The ongoing round was also joined by Israeli software company Wix.com and other existing investors, according to a statement.

Oriente is the parent company of Finmas, Cashalo and Finizi, three online lenders based in Indonesia, the Philippines and Vietnam respectively. Its technology covers real-time credit scoring, digital credit, offline-to-online (O2O) consumer finance, POS lending, and working capital financing for small entrepreneurs.

According to Oriente, it saw a 700 per cent growth in transactions and 20 per cent rise in merchant sales volumes year-on-year for 2019. It also claims to serve over 5 million users and 1,000 merchants across the Philippines and Indonesia – two of its strongest markets.

“The last 12 months have been a period of unprecedented growth at Oriente. This investment, which comes during a time of significant global economic turmoil, puts us in a strong position as we look to step up our efforts in a highly competitive sector,” said Geoffrey Prentice, co-founder of Oriente.

“Southeast Asia’s vastly underserved merchant consumer ecosystem has tremendous economic potential, and we are excited to power a more capable financial services infrastructure that is purpose-built to unlock this,” Prentice added.

This freshly-raised Series B capital will be used to expand its presence in Southeast Asia and develop its technology infrastructure, product and big-data capabilities to develop insights for its partners.

This round follows a recently announced $50-million debt facility secured from Silverhorn Group, a Hong Kong-based multi-asset investment firm. Prior to this, Oriente raised $105 million equity in November 2018 from the founders and a group of family offices including members of Malaysia’s Berjaya Group, the Philippines’ JG Summit Holdings, and Indonesia’s Sinar Mas.

Oriente was founded in 2017 by former Skype executive Geoffrey Prentice, former founding CTO and COO at LU.com Hubert Tai, and founder of BlackPine Private Equity Lawrence Chu.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.