ALTERNATIVE lender Helicap has raised US$10 million in a Sequence A funding spherical led by Saison Capital, the company enterprise arm of Japanese client finance agency Credit score Saison, the startup introduced on Tuesday.
The fundraise, which comprised fairness and redeemable choice share financing, was joined by present investor East Ventures, in addition to new traders Entry Ventures, multi-family workplace Lamivoie and excessive internet worth people.
This brings Helicap’s whole fundraise to US$18 million up to now. The startup had beforehand raised funds from traders, together with property and development agency Soilbuild Group and former minister of state Teo Ser Luck.
Helicap plans to make use of the contemporary capital to boost its proprietary credit-scoring expertise and discover additional alternatives within the personal debt area, “particularly in gentle of market dislocations led to by the Covid-19 pandemic”, the corporate mentioned in its press launch.
The Sequence A elevate “amid a really difficult Covid-19 setting testifies to the belief that our traders have positioned in our crew and our enterprise model”, mentioned Helicap’s chief govt David Wang. “By bolstering our steadiness sheet, Helicap is nicely positioned to climate the present financial storm.”
Saison Capital’s managing associate Kosuki Mori mentioned that he seems to be ahead to offering Helicap with higher entry to potential partnerships and strategic alternatives. Mr Mori can be becoming a member of Helicap’s board of administrators.
“Saison Capital was based with the intention of investing in founders who’re constructing ecosystems that may distribute monetary providers to the underbanked, and that’s precisely what Helicap is facilitating with its distinctive fintech engine,” he added.
Up to now 12 months, Helicap’s fund administration unit grew to become licensed with the Financial Authority of Singapore. The startup additionally obtained a capital markets providers licence, which permits it to deal in capital markets merchandise, by buying securities agency Arcor Capital.
Helicap just lately appointed Ilham Akbar Habibie, chairman of Indonesia’s Financial institution Muamalat, as a particular adviser to its board on the Indonesian market.