Kredivo Boss Summoned by OJK: Here Are the Owners

Jakarta - Digital financial services provider Kredivo is currently in the spotlight over a case of unethical credit collection involving harassment of its customers. The case has led to the management of Kredivo and its business entity, KrediFazz, being summoned by the Financial Services Authority (OJK). Kredivo is a digital credit platform under the auspices of PT FinAccel Digital Indonesia, which is controlled by FinAccel Pte. Ltd., a foreign financial technology company. In terms of ownership, FinAccel Pte. Ltd. is the parent company that later evolved into Kredivo Group. As the business grew, the group not only operates Kredivo, but also KrediFazz and Krom Bank. FinAccel was founded by three technology entrepreneurs: Alie Tan, Paramananda Budi Setyawan, and Umang Rustagi, who combined expertise in technology, data science, and management to build a digital financial services ecosystem in Southeast Asia. Through its subsidiary in Indonesia, FinAccel developed Kredivo into one of the largest players in the digital financing industry, extending into digital banking through Krom Bank. According to KrediFazz’s official website, Alie Tan played a major role in developing the company’s technology. Based on the shareholder profile of PT FinAccel Digital Indonesia, Alie Tan is an Indonesian citizen and a shareholder of KrediFazz. He graduated with a degree in Computer Science from Bina Nusantara University in 2005. Before founding FinAccel, he had extensive experience in the technology industry, including as a Senior Software Engineer at Affle Pte Ltd, Product/Project Manager, Associate Director of Product, and Director of Operations and Presales at AppWeavers. In 2015, he became Chief Technology Officer and Co-Founder of FinAccel Pte. Ltd., and since 2017 has served as President Director of PT FinAccel Digital Indonesia, the company operating Kredivo in Indonesia. Another founder, Umang Rustagi, is from India and has an academic background in engineering and business. He earned a B.Tech and M.Tech (Dual Degree) from the Indian Institute of Technology (IIT) in 2009, and later an MBA from the Indian Institute of Management (IIM) in 2011. Before founding FinAccel, Rustagi worked at global consultancy McKinsey & Company, rising from Associate to Engagement Manager. Since 2015, he has been Chief Operating Officer and Co-Founder of FinAccel Pte. Ltd., while in Indonesia he has served as President Commissioner of PT FinAccel Digital Indonesia since 2018. His strategic consulting experience has been instrumental in building the company’s operational model and expansion strategy. Also among the shareholders is Paramananda Budi Setyawan. He holds a Bachelor of Science in Economics and Business Economics and a Master of Science in Financial Economics from Erasmus University Rotterdam. At FinAccel, he has served as Principal Data Scientist since 2016. Prior to joining the company, Paramananda worked as a consultant at Ipsos Business Consulting and as an analyst at Accenture.