Ex-Grab, Stripe exec’s credit scoring firm bags $2.2m pre-seed money

SkorLife, an Indonesia-based credit scoring firm, has raised US$2.2 million in a pre-seed funding round from AC Ventures and Saison Capital. The fundraise also saw participation from Bukalapak co-founder Achmad Zaky.

SkorLife co-founders Ongki Kurniawan (left) and Karan Khetan / Photo credit: SkorLife

Founded in October last year, SkorLife helps individuals check their credit scores from Indonesia’s bureaus for free. For people who have no credit history, such as fresh graduates and freelancers, the firm helps them build good credit scores and get loans from financial institutions.

According to the company, there are 92 million credit records in the country’s bureaus, with 2.5 million new additions per year. However, most Indonesians currently have no access to that information.

SkorLife was established by former Grab and Stripe executive Ongki Kurniawan along with serial entrepreneur Karan Khetan. The alpha version of its app has been downloaded 3,000 times with 60 new users per day, and it will be available to the public soon.

The firm plans to use the fresh funding to continue product development, drive awareness for the app, and expand its workforce from 19 to 40 people.

See also: The fintech players putting Indonesia on the map

Other investors in the funding round include:

• Advance Intelligence Group co-founder Jefferson Chen
• KoinWorks co-founder Willy Arifin
• Lummo co-founder Krishnan Menon
• Evermos co-founder Arip Tirta
• Qoala co-founder Harshet Lunani
• All co-founders of OneCard