Funding

Cash-IN-Asia Raised S$5 Million in a Funding Round Led by DeClout Ventures

Digital lender IN Financial through its wholly-owned subsidiary Cash-IN-Asia, raised S$5 million in a funding round led by Singapore-based venture firm DeClout Ventures.

IN Financial is a Singapore-based financing platform powered by artificial intelligence (AI) and data analytics for micro, small and medium enterprises (MSMEs) in Asia Pacific that usually have little access to business financing.

Cash-IN-Asia’s clients are reportedly able to complete the onboarding and application process within 3 minutes and have their business cash line approved within 3 hours. Cash-IN-Asia is also among the first few alternative financing companies in Singapore to be integrated with the national identity database via MyInfo and CorpPass, bringing greater data security and convenience to their users.

Mr Eldwin Wong, CEO of IN Financial said,

Eldwin Wong

“The investment by DeClout Ventures is timely and strategic for our business as they have the knowledge and expertise in deep tech, as well as the operational inroads and network within Southeast Asia where Cash-IN-Asia plans to expand into in the months ahead. We look forward to a strong and mutually rewarding partnership between both businesses.”

Head of DeClout Ventures, Mr. Lim Swee Yong shared,

Lim Swee Yong

“The strategic investment in IN Financial allows us to collaborate on areas of technology and market access as it expands its geographical reach across ASEAN. It is also synergistic with our overall Fintech strategy to invest in digital lending platforms which aim to accelerate financial inclusion in the region.”

Cash-IN-Asia is working on expanding its operations to Malaysia and the rest of the ASEAN region within the next year.

Featured image credit: Edited from Unsplash