FinVolution secures increased financing facility for its Indonesian subsidiary

Sep. 26, 2022 6:40 AM ETFinVolution Group (FINV)By: Deepa Sarvaiya, SA News Editor
  • FinVolution Group's (NYSE:FINV) Indonesian subsidiary, AdaKami, obtained a fivefold increase to $34.9M in its financing facility with PT Bank Jago
  • The increase will enhance AdaKami's ability to expand credit access to broader segments of the local economy and accelerate financial inclusion in the country.
  • "Adakami's surging financing capacity is a testament to our fruitful cooperation with Bank Jago as well as the initial success of our strategic transition to better-quality borrowers in the Indonesian market. Moving forward, we will continue to strengthen our global partnerships, offer attractive interest rates and further diversify our product offerings to pursue our goal of greater financial inclusion both in China and international markets." said Mr. Feng Zhang, CEO of FinVolution Group

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