Validus has raised US$30 million in a Series D funding round led by Khazanah Nasional, Malaysia’s sovereign wealth fund.

The funding will support its expansion in Indonesia and Thailand.

The move follows the divestment of its Singapore business to GXS Bank, Grab’s digital bank, in April.

Founded in 2015, Validus provides alternative lending solutions to small and medium enterprises in Southeast Asia.

The company says it has disbursed more than US$5 billion in loans and has built a vertically integrated lending model that combines supply chain financing, proprietary credit analytics and institutional participation.

Validus works with regional and international banks and major corporates in Indonesia and Thailand, which it identifies as a combined US$46 billion supply chain financing market.

It also reports that its Indonesia business has been profitable for the past three years.

The new capital will support operational scaling and loan book growth, with the company projecting a doubling of loan volumes over the next three years.

Avendus Capital acted as the exclusive financial advisor to Validus on the transaction.

Nikhilesh Goel, Co-founder & Group CEO of Validus said,

“We are thrilled to partner with Khazanah. Their disciplined, long-term investment approach and deep expertise in the financial services sector make them an ideal partner for us as we deepen our capabilities to provide impactful financing solutions to SMEs in the region.

This partnership will significantly advance our mission to drive financial inclusion and economic prosperity across Southeast Asia.”

Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik