The Singapore fintech has received a S$50 million investment from London-based institutional asset manager Fasanara Capital.
Validus aims to grow SME lending for underserved and unbanked SMEs in Singapore with a funding injection from Fasanara, which includes S$20 million in SME financing on Validus’ marketplace, and S$30 million in new funds to its Enterprise Financing Scheme, which provide government-assisted loans, the startup announced on Friday.
«Increased access to working capital for SMEs will support business recovery, which will in turn drive job creation and enable the economy to bounce back faster,» Milena Naitoh, Validus head of investor relations and corporate development, said in the announcement.
Long-Term Partner
Fasanara and Validus are currently exploring similar financing solutions in support of government loan schemes in Validus’ other markets in Indonesia, Vietnam, and Thailand.
Launched in 2015, Validus brings together accredited individual and institutional lenders and SMEs on a peer-to-peer lending platform. Fasanara joined Validus as a lender in 2019, and has since funded more than 2,800 SME loans through Validus’ SME financing marketplace.
Strong Support
Validus has facilitated over S$850 million in SME financing through its entities in Singapore, Indonesia, Vietnam, and most recently, Thailand.
The fintech is backed by the likes of Netherlands development bank FMO and Temasek Holdings’ Vertex Ventures and Vietnam’s VinaCapital.
