KUALA LUMPUR (May 12): Validus, Singapore’s largest small and medium enterprise (SME) financing platform with presence in in Indonesia (Batumbu) and Vietnam (Validus Vietnam), has successfully raised over US$14 million, with US$20 million in committed capital in its ongoing Series B+ funding round, co-led by Vertex Growth Fund (Vertex Growth) and Kuok Group's Orion Fund, managed by K3 Venture Partners.
In a statement today, Validus said the firms joined its stable of investors including 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 return to fund and support the company in this latest round.
Singapore headquartered Validus was founded in 2015 and brings together accredited individual and institutional lenders and SMEs.
The company obtained its Capital Markets Services license from Monetary Authority Singapore in December 2017.
Since then, Validus has expanded into Indonesia and Vietnam, and has topped US$315 million in business funding — a record for P2P lending platforms in Singapore.
With fresh funding, Validus said it will continue to invest heavily in technology and innovation, and solidify its position in the three ASEAN countries which it is present in.
The company said it will also fund the upcoming new venture in Thailand, slated for Q4 2020.
Validus co-founder Nikhilesh Goel said fintechs with a robust platform and resilient leadership, who are able to survive and thrive in these unprecedented times, will be leaders of tomorrow.
Goel also commended 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 bolster their frontline responses to the pandemic.
Meanwhile, Vertex Growth managing director James Lee said the industry is crossing an inflection point, where demand for SME growth financing and cash flow management is increasing exponentially.
“Validus is well-positioned to meaningfully address the SME financing gap, as they continue their prudent approach to growth during this period,” he said.
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