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Capital Match, a Singapore based regional fintech company which operates a platform for invoice financing and secured lending, announced that its Series-B funding round was oversubscribed.
The capital raised will support its latest expansion to Hong Kong, technology development, and growth of its financing products portfolio.
The funding round was led by B Capital Group, a global venture capital firm that invests in pioneering fintech, healthcare, industrial logistics, and consumer enablement companies. Dymon Asia Venture Capital Fund (Singapore) Pte. Ltd. , an existing investor in Capital Match, also participated in this funding round.
Kabir Narang, Partner at B Capital, as well as Dave Ng, Principal at B Capital, will join Capital Match’s Board and work closely with the company as it enters its next phase of growth.
Since launching the invoice financing product in February 2016, Capital Match has originated cumulatively S$55 million for small and medium-sized enterprises (“SMEs”) in Singapore through its platform. By providing a tech-enabled credit assessment, financing facilitation, and collection services, the platform enables investors to pick investments directly or through an Auto Funding feature and manage their portfolio online.
SMEs, in turn, are able to receive financing quickly, as the facilities get funded on the platform through Capital Match’s large base of investors. The investment from B Capital comes at a perfect time with the platform seeing an increased interest from an ever-growing base of investors. Capital Match has also recently secured debt financing from reputable institutional investors thus increasing its funding capabilities and the speed at which it can provide financing to SMEs.
Kabir Narang, Partner at B Capital, said,
Kabir Narang
“We are excited to partner with Capital Match and its outstanding team. We have been actively looking at fintech opportunities, especially addressing the large and growing SME lending market. Capital Match is well positioned to transform lending to SMEs with its strong credit processes, operations, and technology.”
“B Capital’s philosophy is to back exceptional founders and market leaders where we can leverage our global network to help accelerate growth. We are looking to back companies that can help transform large industries. SME lending is a massive market that is only starting to get impacted by technology and online lending platforms in Southeast Asia. We are excited to be working with Capital Match’s CEO Pawel and his team as they build on their market position and expand into other products & geographies,”
Kabir added.
Pawel Kuznicki, Founder and CEO, Capital Match said,
Pawel Kuznicki
“We are delighted to welcome B Capital as our new member. The investment from B Capital together with the continuous support from Dymon Asia is a strong confirmation that we have built a unique online lending platform for Southeast Asian SMEs.
We are seeing a significant financing gap for region’s SMEs and are determined to address it by introducing new technologies across multiple countries.
Our first choice after Singapore has been Hong Kong due to its supportive regulatory environment. There is a large and equally developed factoring market in Hong Kong but it is still in its early stage in terms of online spot invoice financing disruption. Simultaneously we are also working on a number of strategic initiatives that would put the company on an exponential growth trajectory.”
Jinesh Patel, Partner, Dymon Asia, said,
“I would like to welcome Kabir and Dave to the Capital Match’s Board. B Capital’s global network and expertise in the fintech space compliments the existing investors base and will add significant strategic value as Capital Match starts its next phase of growth.”
The funding round was led by B Capital Group, a global venture capital firm that invests in pioneering fintech, healthcare, industrial logistics, and consumer enablement companies. Dymon Asia Venture Capital Fund (Singapore) Pte. Ltd. , an existing investor in Capital Match, also participated in this funding round.
Since launching the invoice financing product in February 2016, Capital Match has originated cumulatively S$55 million for small and medium-sized enterprises (“SMEs”) in Singapore through its platform. By providing a tech-enabled credit assessment, financing facilitation, and collection services, the platform enables investors to pick investments directly or through an Auto Funding feature and manage their portfolio online.
