Fintech firm CrediLinq banks fresh capital for global expansion

0
203
Fintech firm CrediLinq banks fresh capital for global expansion
Fintech firm CrediLinq banks fresh capital for global expansion

CrediLinq said it will use the fresh funds to enter the global embedded finance market, which it expects to hit US$248.8 billion by 2032

Singapore’s fintech firm CrediLinq, which is now looking to take more of the world by storm, initially wanted to offer its B2B financing and payment solution only in Asia.

From MS&AD Ventures, Big Sky Capital, and existing investors like 1982 Ventures, the company raised an undisclosed amount of additional seed investment.

For emerging markets, CrediLinq has developed API solutions as well as alternative credit scoring and underwriting models. To help give SMEs easier access to capital, it works with digital banks and funding partners.

The company said it has signed with two unnamed public firms and has several other deals with platforms across Singapore, Hong Kong, Malaysia, Australia, and Indonesia.

CrediLinq said it will use the fresh funds to enter the global embedded finance market, which it expects to hit US$248.8 billion by 2032. Including Indonesia and Singapore, the company is also eyeing strategic acquisitions across its key markets and aims to onboard more global partners.

Deep Singh and Vikram Kotibhaskar co-founded CrediLinq in 2021. The startup most recently raised funding in July last year, when it bagged US$2.6 million in a round led by co-led by 1982 Ventures and White Venture Capital, with 500 Global also chipping in.

Also readAn Introduction to Digital Lending Software: Making Lending Easy & Efficient

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics