The first tranche of Validus’ series C-1 round saw an unknown amount raised, according to the FinTech company’s website. NongHyup Financial Group, NorinChukin Bank, Aizawa Asset Management, and Lotte F&L Singapore raised the money.
Vertex Southeast Asia and India, Vertex Growth Fund, FMO Entrepreneurial Development Bank, and VinaCapital Ventures were among the previous investors that took part in the round.
The business had stated that it will utilise its series C capital to provide neobanking services in Vietnam, Indonesia, Thailand, and Singapore.
Vertex Southeast Asia and India, Vertex Growth Fund, FMO Entrepreneurial Development Bank, and VinaCapital Ventures were among the previous investors that took part in the round.
Previously, the business stated that it will utilise its series C capital to provide neobanking services in Indonesia, Singapore, Thailand, and Vietnam.
So far, Validus has given loans totalling more than US $2 billion to SMEs in Southeast Asia. Additionally, it has investors like AddVentures by SCG and Openspace Ventures on its side.
“Validus has been leading the push for financial inclusion in the region by providing much-needed financing relief to SMEs, such as collateral-free financing options and liquidity through access to a pool of investors,” said Genping Liu, partner at Vertex Ventures Southeast Asia and India.
In August, Validus teamed up with a large international bank Citi to create a $100 million securitization facility that is secured by SME loans that Validus disbursed in Singapore.
A joint venture that aims to empower SMEs in Vietnam through financial inclusion activities was also introduced earlier in January by Validus Vietnam, TTC Group, and Do Ventures.
