Online lending platform, Helicap, raises pre-Series A round

NewCrop Team / September 19, 2018 / Global

A financial services startup focused on lending services, Helicap, has raised new investment round worth $5 million.

The startup was co-founded sometime earlier this year and provides an online platform which provides SMEs with an alternative credit and lending option.

“Southeast Asia is among one of the world’s fastest-growing economic regions and has been primarily driven by SMEs,” David Z Wang, Co-Founder of Helicap said, as reported by Deal Street Asia. “However, this growth has also generated a fragmented lending ecosystem which hasn’t been able to cater to the growing borrowers seeking capital to start a business.”

Funds from the pre-Series A round will be used for improving the startups services, international expansion plans and team expansion, the startup said via a statement. The startup also intends to raise further funding over the course of the next year.

The Singapore-based startup has developed a presence in Australia so far, along with its Southeast Asian presence.

“Given the attractive returns, Helicap is also working with fund managers and family offices, and expects to raise more capital in the next 12 months, which will be directly deployed into more originators every month,” Helicap said.

East Ventures and Soilbuild Group Holdings are investors in the current $5 million funding round. The startup is currently in the middle of processing around $200 million worth of loans.

The recent investment round comes soon after the startup raised $1.5 million in seed funding in May of 2018.

“In addition to financial returns, Helicap’s platform enables individuals to help thousands of consumers and small businesses in Southeast Asia gain better access to funding,” Helicap said.

(Picture courtesy: http://fintechnews.sg/)

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