---
title: "OH Credit Raises $45M Pre-A from DMS Bank for SEA BNPL — Unique Capital Advises"
author: "Unique Research"
sourcePublication: "Unique Research (FFCAP English library)"
originalPublishedAt: "2023-05-08T18:15:53+08:00"
canonical: "https://ffcap.cn/en/research/20230508a07apy00"
source: "https://ffcap.cn/en/research/20230508a07apy00"
language: "en"
cnSourceUrl: "https://view.inews.qq.com/a/20230508A07APY00"
---

# OH Credit Raises $45M Pre-A from DMS Bank for SEA BNPL — Unique Capital Advises

_Unique Research · Company / funding · May 8, 2023_

BNPL brand **OH Credit** (Ouxin International) closed a **$45M Pre-A** strategic round from Indonesian digital bank **DMS Bank**; **Unique Capital** as financial advisor. Proceeds: expand service scenes; strengthen data, risk, and mid/back-office R&D.

Parent founded **2021** in Shenzhen; prior Indonesia pilot brand Okebeli now a sub-brand. CEO **Xu Jianfeng**: local gov’t ties + talent depth. IDC: SEA BNPL spend +$7.9B by 2025 — fastest global BNPL growth region. Thesis: SEA credit-card penetration only ~3% of ~690M people; millennials/Gen Z want lifestyle spend but unstable income → zero-interest/fee/down-payment + fast credit lowers checkout friction; merchants get higher conversion.

**Indonesia first:** young demographics, stable growth, open finance. Research and Markets: ID BNPL CAGR ~22.9% → ~$4.28B by end-2023. Main merchants: 3C; tiered limits by SKU/ability (students smaller; white-collar larger); tenors 1/2/3/6/9/12 months. Approval rate **25–30%** (claimed +10–20 pts vs some peers). 2023 revenue target ~**$50M** — merchant take-rate + consumer management fees/late fees; also bank/insurance distribution + SME loans.

**Competition:** Afterpay, Atome, Kredivo, Akulaku. Risk: over-borrowing → NPL; OH Credit claims full-lifecycle risk rating + ML decisioning (self-fill, third-party, credit bureau). PBOC BNPL note flags privacy + weak consumer-protection regimes globally.

**Roadmap:** online+offline BNPL; virtual cards / third-party pay; expand beyond 3C to beauty/home; MY/VN + LatAm/Africa. DMS COO Nainggolan: values OH Credit’s tech + China banking management experience; plans deeper core-system collaboration.

_2 CN images; originally via 36Kr._

— END —

---

Editorial English edition published on UniqueCapital: https://ffcap.cn/en/research/20230508a07apy00
On-site reading page: https://ffcap.cn/en/research/20230508a07apy00