P2P Lender Validus Raises Over $US 14 M in Oversubscribed Series B Fundingby Fintech News Singapore February 25, 2019
Validus a P2P lending platform announced today that it has successfully raised $US 14 Million in an oversubsribed series B funding round. Investment in Validus’ Series B round was led by FMO, Netherlands’ public-private development bank.
FMO has over 300 investments in banking and financial services institutions (BFSIs). Its investment in Validus marked FMO’s first fintech investment in Southeast Asia
Participating investors also include Taiwan’s Cathay Financial Holdings, Singapore’s Openspace Ventures (previously NSI Ventures), Temasek investment arm Vertex Ventures, Thailand’s AddVentures by SCG and Vietnam’s VinaCapital Ventures.
Founded in 2015 in Singapore, Validus brings together accredited individual and institutional lenders and SMEs.
It obtained its CMS license from MAS in December 2017. Since then, Validus has successfully topped S$180 million in business funding – a record for P2P business lending platforms in Singapore.
With fresh funding, Validus is looking to invest heavily in technology innovation, particularly around artificial intelligence and machine learning to help make business financing even more convenient and safe for SMEs. It will also fund their Southeast Asia expansion, starting with Indonesia in Q2 2019.
Validus is also among the the 29 companies that we’ve identified as the hottest fintech startups operating in Singapore