Helicap lands US$10M Series A to expand its online lending platform
Singapore-based fintech platform Helicap has raised US$10M in a Series A financing round, led by early-stage VC firm Saison Capital, according to KrAsia.
Existing investor East Ventures, and new investors Access Ventures and Lamivoie, besides unnamed individual investors also participated.
This round pushes the startup’s total funds raised till date to almost US$17 million.
Helicap said that it would use the fresh capital to grow its business further by enhancing its current platform and expanding towards the private debt space.
Helicap is an online investment platform that specialises in the alternative lending space in Southeast Asia and Oceania.
The company most recently registered its fund management subsidiary, Helicap Investments with the Monetary Authority of Singapore (MAS), according to founder David Wang. It also managed to obtain a capital markets services license by acquiring Arcor Capital last in 2019.
Earlier, Helicap roped in the eldest son of late former Indonesian president B.J. Habibie as Special Advisor to the company’s Board of Directors. The company is speculated to be eyeing Indonesian expansion.
Habibie said: “As the Indonesian economy evolves and our labour force re-skills for the future, there will continue to be a large gap in the Indonesian credit market which is not addressed by traditional banks. As a result, there is a significant role for a rigorous data-driven firm like Helicap to play in the alternative lending space.”