Fintech Startup Helicap Seeks to Bridge Gap in SEA Consumer, Corporate Credit Market

Singapore-based financial technology startup Helicap was founded in 2018 by David Z Wang to address the alternative lending gap in the Asia Pacific region. Since its inception, Helicap has attracted the interests of investors, which have so far poured in over $6.6 million into the company.

According to the Global Financial Development Report released by the World Bank, nearly 75 per cent of Southeast Asia’s 630 million people do not have a bank account, keeping them away from lending and other financial services.

The company’s business model is simple: to provide an investment platform that focuses on the alternative lending space in Southeast Asia and Oceania. Its vision is to help improve people’s livelihoods by driving financial inclusion.

Today, it has expanded its capabilities by acquiring Arcor Capital, a securities firm that specialises in growth capital and private debt securities for early-stage and mid-market enterprises in Asia.

Financial details of the acquisition were not disclosed but Helicap said having Arcor Capital under its umbrella will help it source investment opportunities in the $500-billion Asia Pacific alternative lending market, under the Helicap Group.

It currently screens and accesses data for business owners and individuals in Singapore, Australia, Indonesia, Hong Kong, Cambodia, and the Philippines.

Arcor Capital is a good addition to the Helicap Group as it holds a license – Capital Market Services (CMS) licence – issued by the Monetary Authority of Singapore for dealing in securities.

Aside from operating its proprietary, data-driven analytics platform, Helicap has also successfully invested in at least eight of the region’s top-performing alternative lending platforms. It obtained Registered Fund Management Company status with the MAS in April of this year.

The acquisition, Wang said, is expected to enhance Helicap Group’s position in the region’s alternative lending market. It also enables the group to further expand its engagement with investors through debt securities fundraising and credit fund management.

In September 2018, Helicap raised $5 million in its East Ventures-led pre-Series A funding round. The fundraising was also backed by Singapore’s Soilbuild Group Holdings. It first raised $1.5 million in seed round in May last year.