Singapore-based alternative lending startup Helicap has raised US$5 million in a pre-series A round led by East Ventures and property firm Soilbuild Group Holdings.
The fresh funding comes just four months after the company closed a US$1.5 million seed round led by Singapore member of parliament and former manpower minister Teo Ser Luck.
Helicap said it will use the investment to hire tech and data talent and expand its presence in Indonesia, Vietnam, and the Philippines.
Some of the capital will also go towards boosting its risk management abilities through improved credit scoring and due diligence tools.
The startup acts as a middleman, helping large-scale investors – such as family offices, pension funds, and insurance companies – invest in the small-to-mid-sized loans offered through the region’s growing number of tech-driven, peer-to-peer (P2P) lending platforms.
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