Singapore-Based Fintech Lender Validus Raises US$20 Million
The series B+ round was led by Vertex Growth Fund and Kuok Group’s Orion Fund managed by K3 Venture Partners.
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Singapore-headquartered Validus on Wednesday announced that the SME financing platform has raised over US$14 million, with US$20 million in committed capital, in its ongoing Series B+ funding round which was led by Vertex Growth Fund (Vertex Growth) and Kuok Group’s Orion Fund managed by K3 Venture Partners.
Validus is also present in Indonesia and Vietnam.
Founded in 2015, Validus brings together accredited individuals and institutional lenders and SMEs. It obtained its CMS license from MAS in December 2017. The company has topped US$315 million in business funding.
Validus’ existing investors include FMO (Netherlands’ public-private development bank), Vertex Ventures Southeast Asia and India, Openspace Ventures, Thailand’s AddVentures (Siam Cement Group) and Vietnam’s VinaCapital Ventures who returned to support the company in this latest round.
“Fintechs with a robust platform and resilient leadership, who are able to survive and thrive in these unprecedented times, will be leaders of tomorrow. We are grateful and honoured by the vote of confidence from our Investors,” said Nikhilesh Goel, co-founder of Validus in a statement. “We’d also like to commend the Singapore government for the extensive SME relief measures designed to help businesses tide over these trying times, as well as the various government agencies who work closely with many financial institutions and platforms including Validus to further support SMEs and help to bolster their frontline responses to the pandemic,” he added.
The fresh funding will be used for technology upgradation and innovation, and solidify its position in the three ASEAN countries it is operating in. It will also fund the upcoming new venture in Thailand slated for Q4 2020.
Commenting on the funding round, James Lee, managing director of Vertex Growth, said, “The industry is crossing an inflection point where demand for SME growth financing and cash flow management is increasing exponentially, and we are confident that the Validus is well-positioned to meaningfully address the SME financing gap as they continue their prudent approach to growth during this period.”
Based on a study from Validus’
Economic Impact Reportconducted in November last year, over 300,000 Singaporeans had directly or indirectly benefited from Validus’ SME financing platform, the company claimed.
Singapore-headquartered Validus on Wednesday announced that the SME financing platform has raised over US$14 million, with US$20 million in committed capital, in its ongoing Series B+ funding round which was led by Vertex Growth Fund (Vertex Growth) and Kuok Group’s Orion Fund managed by K3 Venture Partners.
Validus is also present in Indonesia and Vietnam.
Founded in 2015, Validus brings together accredited individuals and institutional lenders and SMEs. It obtained its CMS license from MAS in December 2017. The company has topped US$315 million in business funding.
