Southeast Asian SME financing platform Validus has secured a US$20 million investment from growth-stage private equity firm 01Fintech.
Validus will use the fresh funds to accelerate its expansion plans in fast-growing markets like Indonesia as well as enhance its technology innovation.
Operating in Indonesia, Singapore, Thailand, and Vietnam, Validus utilises proprietary data and AI to provide financing solutions to underserved SMEs.
Validus has disbursed over US$3 billion in loans to small businesses across Southeast Asia since its establishment in 2015. The firm reports that it has witnessed a 50% increase in revenue and a 40% decrease in losses this year.
The company is backed by Vertex Ventures Southeast Asia and India, Vertex Growth, FMO, NorinChukin Bank, NongHyup Financial Group, and other major East Asian financial institutions.
Kenny Ho
“By leveraging their existing approach to supply chain financing, we believe Validus can further tap into the merchant bases of other platforms and provide supply chain financing in a seamless, automated way.
This investment reflects our conviction in the team’s capabilities and passion to address a huge pain point facing SMEs in Southeast Asia and its vision to be the number one supply chain financing service provider in the region,”
said Kenny Man, Managing Partner of 01Fintech.
Nikhilesh Goel
“With the support of 01Fintech, we aim to cement our leadership as the number one digital SME financing company in the region. We will be able to tap into their expertise and vast network in the region.
The in-depth due diligence 01Fintech has done has shown their deep domain expertise and willingness to identify areas of growth to bring the company to the next level,”
said Nikhilesh Goel, Co-founder and Group CEO, Validus.
Featured image credit: Edited from freepik
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- Source: https://fintechnews.sg/82247/funding/validus-accelerates-expansion-with-us20m-funding-from-01fintech/
