Fintech agency Helicap has secured $10 million in capital by way of a Collection A funding spherical led by Saison Capital, the company enterprise capital division of Credit score Saison, a Japanese client finance firm.
Helicap’s fundraise consisted of fairness and redeemable choice share financing.
Current investor East Ventures, and new buyers Entry Ventures, multi-family workplace Lamivoie and a number of other excessive web worth people (HNWIs) additionally took half within the agency’s newest spherical.
Helicap has raised a complete of $18 million (so far). The Fintech firm’s earlier rounds included contributions from Soilbuild Group, a property and development firm, and Teo Ser Luck, who has beforehand served as Singapore’s Minister of State at each the Ministry of Commerce and Trade and Ministry for Manpower.
Helicap says it intends to make use of the funds raised to improve its credit-scoring expertise and can think about pursuing varied alternatives in Singapore’s non-public debt sector, notably “in light of market dislocations brought about by the COVID-19 pandemic,” the agency famous in a launch.
David Wang, CEO at Helicap, stated that the Collection A spherical “amid a very challenging [Coronavirus] environment testifies to the trust that our investors have placed in our team and our business model.”,
“By bolstering our balance sheet, Helicap is well positioned to weather the current economic storm.”
Kosuki Mori, managing associate at Saison Capital, famous that he’s wanting ahead to working with Helicap and offering the corporate with entry to new enterprise alternatives.
Mori will sit down on Helicap’s board of administrators.
“Saison Capital was founded with the aim of investing in founders who are building ecosystems that can distribute financial services to the underbanked, and that is exactly what Helicap is facilitating with its unique Fintech engine.”
Helicap’s asset administration division has obtained an operational license from the Financial Authority of Singapore. The Fintech firm has additionally been awarded a capital markets providers license, which permits it to take part within the city-state’s monetary sector and provide varied services and products.
The agency was capable of acquire the license after it acquired Arcor Capital, a securities agency.