Singapore-based financial technology (fintech) firm Jenfi has successfully secured US$6.6 million in a Pre-Series B fundraising round.
The funding round was spearheaded by Headline Asia, and saw participation from Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, Atlas Ventures, and other existing early investors.
The startup plans to utilize the fresh capital to consolidate its foothold as a preeminent fintech lender for burgeoning online businesses, encompassing e-commerce, SAAS, and consumer-tech companies.
Jeffrey Liu, Co-Founder and CEO of Jenfi, commented on the successful funding round, stating, “We are thrilled to have the support of such an esteemed group of investors as we seek to break new ground in the fintech lending sector. This investment will expedite our vision for Jenfi, allowing us to cater to a wider customer base across the region.”
Jenfi, the pioneer of “Growth Capital as a Service,” provides flexible funding options to digital-native businesses aiming for growth. The fintech company has already deployed over $25 million USD to aid the growth of over 600 companies, thereby stimulating the digital economy.
With the latest funding, Jenfi aims to bolster its presence in Singapore, Vietnam, and Indonesia. The firm also plans to widen its customer base, cultivate stronger relationships with clients, and expand into new markets across Southeast Asia.
Distinct from traditional lenders, the fintech firm revolutionizes underwriting by automating the process and integrating with diverse data sources such as accounting software, payment gateways, eCommerce platforms, online marketplaces, and digital advertising. This approach enables real-time monitoring of business activity and health, expediting credit underwriting and risk assessment.
The new funding will allow Jenfi to boost its technological prowess, making it capable of identifying new opportunities and integrating its credit decisions and underwriting system with platform partners more seamlessly. The fintech firm has been lauded by industry experts and clients, and the fresh funding will help it maintain this momentum.
Aki Okamoto and Jonathan M. Hayashi, partners at Headline Asia, praised Jenfi’s prowess in the field of revenue-based financing and expressed their excitement at supporting the company in its future growth endeavors.
