Hong Kong-based startup Oriente just announced that it has secured USD 50 million in a Series B round led by Peter Lee, the co-chairman of Hong Kong property developer Henderson Land. Oriente was first launched in 2017 with the goal to help consumers build a strong foundation to hone in financial and economic opportunities, leading to a gain towards obtaining a strong digital community. This follows its initial funding round in November 2018, which raised USD 105 million, as well as USD 20 million in debt financing from Silverhorn Group.
According to a statement, the funding round was also joined by Israeli software platform Wix.com and other existing investors. The funding will be used to promote Oriente’s growth in its existing markets as well as expansion into new markets, including Vietnam. It will also be used to continue developing Oriente’s technology infrastructure, product and big-data capabilities in efforts to provide better insights to its partners.
Founded in 2017, Oriente aims to provide digital financial products and services to underprovided markets in Southeast Asia. The firm is currently operating in the Philippines and Indonesia, offering credit services via its apps Cashalos and Finma respectively.