As part of the agreement, Olympus Capital Asia will also have a seat on the company’s Board.
The company will use the proceeds to accelerate expansion of its retail lending operations into one to two new countries in Asia and to more than double its client base to over 3 million customers. CreditAccess Asia will seek a stock listing in the longer term to continue to grow.
Established in 2007 and led by Paolo Brichetti, CEO, CreditAccess Asia is an operator of credit institutions in India, Indonesia, and the Philippines. Today, its regional companies in Asia have a total portfolio of €240m with over 1.3 million clients. Over the next two years,
The CreditAccess Asia companies employ some 5,400 people across offices in Amstelveen, the Netherlands, Bangalore, India, Jakarta, Indonesia and Pasig City, Philippines.