A Dialogue With Kosuke Mori, CEO of Saison International

In this special feature, we shine the spotlight on Kosuke Mori, CEO of Saison International and Board Director at Credit Saison. As the architect of Credit Saison’s global strategy, Mori-san has steered the company’s expansion into dynamic emerging markets such as India, Indonesia, Brazil, and Mexico. He has built partnerships that bring inclusive lending and investment opportunities to millions all around the world.

What makes his story extraordinary is not just the impressive numbers, but also the resilient journey behind them. From starting his own fintech startup during the Web 2.0 boom to working from coffee shops while pitching Credit Saison’s first overseas ventures, Mori-san embodies a unique mix of entrepreneurial grit and the institutional discipline of a 70 year legacy. Under his leadership, Credit Saison’s international arm has grown significantly, with India alone reaching US$2 billion in AUM and a recent US$450 million in external fundraising to fuel further global expansion.

Mori-san and David Z Wang, Helicap's CEO sat down together for an inspiring conversation on leadership, resilience and the lessons learned from building a global business. Together, they reflected on the challenges, triumphs and personal philosophies that continue to shape Mori-san's vision for creating meaningful impact at scale.

A Seeds of a Remarkable Journey

Mori-san's journey has been far from linear. Growing up in Japan, he pursued a law degree but shares with refreshing honesty, “I was one of the lazier students in my class and almost failed my sophomore year.”

His first role at a bank was motivated partly by the chance to study abroad, a decision that would change the course of his career. Business school in the United States during the Web 2.0 revolution proved transformative. “Facebook was still invite-only, Gmail required a referral, and everything was shifting toward digital. The energy in the US startup scene was infectious,” Kosuke Mori recalls.

Inspired by this environment, he embraced the entrepreneurial spirit and launched his own fintech startup well before the term fintech became widely recognised. “I raised venture capital, built a team, and ran the company for seven years. It did not scale the way I had hoped, but the experience was priceless,” he reflects. “One of my angel investors later introduced me to Credit Saison as they began exploring global expansion. The stars truly aligned.”

Starting From The Ground Up

When Mori-san first arrived in Singapore to lead Credit Saison’s regional expansion, there was little to build on. “There was no team, no office and not even a formal decision to expand,” he recalls. David reflects on that moment with equal candour. “It was a white sheet of paper.”

Mori-san smiles at the memory of those early days. “I was working from coffee shops and sharing ideas with anyone who would listen. It was just me, my laptop and a lot of conversations. But having the backing of a 70-year-old company gave me the freedom to fail safely and learn quickly,” he says.

With an entrepreneurial mindset, Mori-san began exploring opportunities across Southeast Asia, meeting conglomerates and considering equity investments as they arose. “That has been my role since I moved to Singapore 11 years ago. Building our presence in Vietnam, Indonesia and Thailand. Five or six years ago we entered India. Two or three years ago we ventured into Latin America,” he explains.

“In the beginning there was no set strategy. We experimented, made mistakes and kept learning. Around 2018 we began to see what worked and applied those lessons in India. It clicked. That success gave us the confidence to grow in other markets such as Brazil and Mexico,” Mori-san shares.

His approach reflects a deep understanding of how patience and adaptability are essential when navigating unfamiliar territories. “You have to understand every detail of each market and keep evolving. It was never a straight path,” he adds.

Across Borders From India to Brazil

India became a proving ground for Mori-san's approach. “We came in with a AAA rating from Japan, which gave us credibility from day one. We started with wholesale lending, partnered with NBFCs and fintechs, collected performance data, refined our credit strategies, and eventually moved into B2C,” he explains.

Yet the path was not easy. “I flew to India every other week for almost a year. I couldn’t relocate because of family commitments, but I made it work. We didn’t hire traditional managers. We hired entrepreneurs, people who left high-paying jobs because they believed in building something from the ground up.”

Brazil posed new challenges. “Language was a barrier, everything was in Portuguese. But the fintech ecosystem was robust, and central banks had already created open finance frameworks. Brazil felt like India a few years ago. If you know how to navigate it, the possibilities are endless,” Mori-san shares.

Where Ambitions and Family Grow

For Mori-san, balancing the demands of global expansion with family life has been both a challenge and a lesson in rhythm. As his business grew, so did his children, and the pace of his work evolved alongside theirs.

“Compared to Japan, Singapore is much more efficient. Early on, most of my travel was within Southeast Asia. The trips were short and manageable, and I could return home quickly,” he shares. “When India became a focus, I flew overnight every other week. Brazil was further, so I stayed longer. But as my kids grew older, the timing worked out. I was fortunate that the stages of my family and the stages of our business aligned.”

Mori-san credits Credit Saison’s culture for giving him the flexibility to maintain this balance. “Our company gives autonomy and flexibility, which helps me stay grounded,” He says. Reflecting on his approach to life and work, he adds, “I try to stay healthy, block out thinking time and prioritise quality over quantity, both at work and at home.”

Inclusion Through Private Credit

Private credit has been part of Credit Saison’s story for decades, but Mori-san sees it as something far greater than a financial instrument. “We have been doing private credit for seventy years as an NBFC in Japan, filling the gap banks cannot because of risk appetite, cost structure and nimbleness,” he explains.

This ethos of inclusion has long shaped the organisation’s approach. “For example, we were the first to issue credit cards massively to women in Japan decades and decades ago. Back then, banks would only provide credit cards to men because they were the primary income earners,” Kosuke Mori recalls. “But we saw that women were responsible for managing household savings, spending and all the important things. They were going shopping, they were taking care of family finances, and that is where we promoted our credit cards. It was always about meeting unmet needs in different ways.”

As Credit Saison expanded globally, this philosophy became even more important. “We work with fintechs and new age lenders using data and technology to reach unserved segments. We provide capital and partnership for impact and long-term growth,” he says.

For Mori-san, private credit represents more than financial returns. “The goal is to be a full financial institution, not just a private credit player chasing yield. Private credit is more than just returns. It is a tool for mobility and inclusion,” he reflects.

David shares the same sentiment. “Private credit is not the sexy part. It is not a VC. You spend days looking at the balance sheet, but we have stayed relevant through discipline,” he adds with a knowing smile.

Empowering Leadership

For Mori-san, true leadership is less about control and more about creating the conditions for others to thrive. He credits much of Credit Saison’s international success to the people building the business on the ground. “Our people are entrepreneurs at heart. They do not wait for instructions. They take ownership and treat the business as their own,” he says.

Rather than taking a hands-on approach, Mori-san empowers his teams to lead with autonomy. “They are self-driven and disciplined,” he explains. “My role is to support, guide, and remove obstacles so they can focus on what they do best.” It is a philosophy he credits for attracting and retaining exceptional talent across dynamic markets such as India, Brazil and Southeast Asia. “Today, around ten to fifteen people report to me, but most are more like co-founders in spirit,” he adds. “I simply give them the runway to thrive.”

This philosophy of empowerment extends to partnerships as well. As one of Helicap’s earliest supporters, Mori-san recognises a similar entrepreneurial spirit in its team. “You were among the first to start this in the region. We need like-minded players to build discipline, train talent and strengthen the ecosystem. Your team brings a strong blend of institutional rigour and entrepreneurial drive,” he tells David.

David nods. “When we collaborate on due diligence, I always appreciate how deep your team goes. You do not just look at numbers. You assess people, operations, governance and mission.”

Mori-san also reflects on the cultural nuances of leading teams across continents. “In each market, people work differently. In India and Brazil, you have vibrant, fast-moving environments. You have to let local leaders shape their own way. What works in one country rarely works in another,” he shares.

David smiles. “That’s probably the best kind of manager.”

Mori-san laughs softly. “Maybe. But for me, it is about building trust and giving people space. That is when they do their best work.”

Lessons from the Rice Fields

For all his global achievements, Mori-san remains deeply connected to his roots. “I wanted to be a farmer. My grandparents lived in northern Japan. Helping with rice and vegetable farming taught me the value of hard work, seasons and cycles. Maybe someday I will go back to that,” he shares, as a quiet chuckle softens his words.

That early connection to the land continues to shape his worldview. “I feel privileged to have had the opportunities I have today, but I still carry that part of me that values simplicity and hard work,” he reflects.

Looking ahead, Mori-san's vision remains grounded yet ambitious. With Credit Saison’s ongoing expansion and partnerships with firms like Helicap, he sees private credit as a powerful tool for advancing financial inclusion.

“There is still a lot of value to unlock in our current markets. But beyond that, we are building the base to do more. Embedded finance, payments, tech-driven credit scoring. It is about serving the next billion responsibly,” he says.

This conversation reveals not just a corporate leader but Mori-san, a builder, a market launcher and a visionary whose work is quietly transforming private credit into a bridge for inclusion and opportunity across the world.

This piece was adapted with permission from our partner, Helicap. Check out the original piece here: https://www.helicap.com/blogs/beyond-the-balance-sheet-with-kosuke-mori

Stories of Transformation

06/08/2025

10 Minutes minute read

A Dialogue With Kosuke Mori, CEO of Saison International

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