Yinshan
Founded in 2017 and backed by Peak XV Partners, Yinshan Tech Group is a Singapore/Hong Kong-based digital consumer finance group offering unsecured short-term loans, BNPL and virtual credit cards via AI-powered mobile apps across Indonesia (AdaPundi, OJK-licensed) and the Philippines (HappyCash, SEC-licensed).
Kilde Score is the platform’s proprietary credit assessment of the borrower, reflecting Kilde’s independent credit view and expressed as a numeric score from worst to best (1.00–5.75). For full details of the credit methodology, including its mapping to a Fitch-style rating equivalent, please refer to this article.
Total value of bonds this borrower has listed on Kilde for investors to fund.
Indonesia
Philippines
Regulatory status of the borrower: Licensed if the license is required, or 'Not applicable' if no licence is required in its operating market(s).
Total amount of loans the borrower has issued to its own end customers. Reflects the company's overall lending scale.
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Overview
Background & History
Founded in 2017, Yinshan Tech Group is a Singapore/Hong Kong-headquartered digital consumer finance group operating across Southeast Asia, with top holding entity Digital Technologies Limited (DTL) in BVI. Privately held by founder/CEO Rebecca Wang (~59.9%) with Peak XV Partners (ex-Sequoia Capital India) as lead institutional investor (22.0%). Operating subsidiaries are licensed by OJK in Indonesia (full P2P license since 2021) and the SEC in the Philippines. ~300 employees across Jakarta, Hong Kong, Singapore and Shanghai, with group entities including PT Info Tekno Siaga (AdaPundi, Indonesia), Yinshan Lending Inc. (HappyCash, Philippines), Nexus/NDTL, Matrix/MDTL, Star Dana/SDL and Velatech Innovations.
Business Model & Lines of Business
A fully digital, app-based unsecured consumer lender powered by a proprietary AI risk-control system delivering ~30-second approvals. Products span short-term cash installment loans (2–12 months), BNPL and a virtual credit card (Credinex), distributed via AdaPundi in Indonesia (top-5 P2P lender) and HappyCash in the Philippines, complemented by B2B bank channeling. Funded by equity (~USD 50.6m at 1H25) and bank channeling lines from DBS, SeaBank, Superbank, BNC, BCA Digital and Danamon (~USD 180m aggregate), now complemented by KILDE facilities with the short-term loan portfolio pledged as security.
Key Milestones
Total assets grew from USD 50.7m (FY23) to USD 129.6m (1H25); gross loan portfolio USD 41.9m at 1H25. FY24 revenue USD 110.4m / net profit USD 20.5m; 1H25 revenue USD 76.4m / net profit USD 24.3m. ~USD 1.7bn cumulatively disbursed since inception, serving 15+ million customers with ~70% retention. Annual disbursement of ~USD 463m at AdaPundi in 2024.
Management Team & Organization
Led by founder/CEO Rebecca Wang (ex-Tencent / Noah Private Wealth), supported by 100+ ML/AI specialists. Operates centrally from Jakarta with corporate functions in Hong Kong, Singapore and Shanghai.
Financials
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Total income (interest and fee income) generated from the borrower’s lending activities.
Products
Typical contractual tenor of the loans disbursed by the borrower to its end customers.
The effective Annual Percentage Rate of the loan charged by the borrower to its end customers, inclusive of interest and fees.
Typical principal amount disbursed by the borrower to its end customers per loan transaction.
Expected share of non-performing loans (NPL) — loans where the end customer has stopped repaying — under this product, shown as a range.
Share of this product in the borrower's overall loan portfolio. Shows how much of the lending business comes from this product.