Oriente’s Prentice sees vast opportunities in Southeast Asia
14 April 2019 6:30 PM GMT
The financial technology (fintech) industry has not even scratched the surface of opportunities across Southeast Asia, says Geoff Prentice, co-founder of Hong Kong-based micro-lending startup Oriente. In 2017, Prentice, a Skype co-founder and its former chief strategy officer, partnered with Hubert Tai, a founder of Ping An-backed online lending and wealth management platform Lufax, and?
- The financial technology (fintech) industry has not even scratched the surface of opportunities across Southeast Asia, says Geoff Prentice, co-founder of Hong Kong-based micro-lending startup Oriente.
- In 2017, Prentice, a Skype co-founder and its former chief strategy officer, partnered with Hubert Tai, a founder of Ping An-backed online lending and wealth management platform Lufax, and investor Lawrence Chu to form a company that offers digital credit and financial products in Southeast Asia.
- Both are lending mobile applications that provide credit services for unbanked and underserved consumers, as well as micro small and medium enterprises (MSMEs), using a mixture of online and offline channels.
- The market has seen the digital economy in Southeast Asia growing rapidly, with homegrown players like Grab, Go-Jek, and other peer-to-peer microlenders, along with foreign giants like Ant Financial and Tencent, competing in the local financial services arena.
- Malaysia's Berjaya is in property, consumer marketing and more; JG Summit operates retail, banking and aviation, among other businesses, in the Philippines; and Indonesia's Sinar Mas covers financial services, telecommunications and more.
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