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InnoVen will provide loans totalling US$5 million to help KFit Holdings and Pomelo cater to the fitness habits and fashion trends of Asia's growing affluent population which is expected to account for two-thirds of the world's middle class consumers or about 3.2 billion people by 20302.
This follows KFit Group's acquisition of Groupon's Indonesia business in August and the growth of its new Fave platform to position the company as the region's O2O leader.
KFit Group's platforms connect customers with thousands of local businesses in key market centres across Southeast Asia.
Started in April 2015 as a fitness sharing platform, KFit Group has expanded to include various other verticals such as Food and Restaurants, Beauty and Wellness, Lifestyle and Activities and more.
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