The peer-to-peer lending platform brings on board two new and highly reputed investors, who join Dutch public-private development bank FMO, Vertex Ventures Southeast Asia and India, Openspace Ventures, Thailand’s AddVentures (Siam Cement Group) and Vietnam’s VinaCapital Ventures in the latest funding round.
Validus has announced that it has secured $20 million in funding 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, it announced in a statement on Tuesday.
The funds will be used to invest in technology and innovation, solidify its position in the markets where it operates, and fund an upcoming venture in Thailand slated for Q4 2020, the statement 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,» Nikhilesh Goel, Validus co-founder, said about the raise.
«Inflection Point»
«The industry is crossing an inflection point where demand for SME growth financing and cash flow management is increasing exponentially,» James Lee, managing director, Vertex Growth, said about its investment.
Founded in 2015, Validus brings together accredited individual and institutional lenders and SMEs.
In November, the startup expanded into Vietnam, its third market after Singapore and Indonesia, and has facilitated 15,000 loans totaling more than $315 million – a record for P2P lending platforms in Singapore.
