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Former Skype Co-Founder and CSO’s Oriente raises $20 million

OrienteHong Kong-based Oriente, a technology and data science company creating opportunities through financial access for Southeast Asia, announced the closing of $20 million in debt funding from Silverhorn Group, a multi-asset investment firm. The company will use the funding to grow its loan book and expand its financial inclusive FinTech platform Cashalo, to increasingly unbanked and underserved MSMEs in the Philippines.

Geoffrey Prentice, Co-Founder, Oriente enunciated, “We are excited to have won the confidence of Silverhorn Group. As we enter the next stage of growth on our mission to helping ignite economic opportunity for tens of millions of consumers and micro-enterprises, the support we receive from our debt partners is critical. We look forward to strengthening our relationship with Silverhorn and invite other investors to join us as we accelerate our efforts to build the future of finance in Southeast Asia.”

The debt funding facility can be increased up to $50 million. Oriente is equity funded by its founders and a group of family offices including members of the Berjaya Group, JG Summit Holdings and Sinar Mas. Till date, the company has raised over $105 million in equity.

Mike Imam, Managing Partner, Silverhorn Group elucidated, “Oriente shares our values of promoting financial inclusion in Southeast Asia. To date, it is one of the very few non-bank lenders that can leverage on alternative data points and an algorithmic risk engine to underwrite credit to the under-financed populations in the region. This helps originate and provide a portfolio construction building brick which is higher yielding, predictable and uncorrelated to traditional asset classes. We’re thrilled to work with Oriente to fuel its growth and unlock potential for communities across the ASEAN region.”

Oriente was founded in 2017 by former Skype Co-Founder and CSO, Geoffrey Prentice; former Founding CTO and COO at LU.com, Hubert Tai (CEO); and Founder of BlackPine Private Equity, Lawrence Chu.

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