Validus Exceeds S$1 Billion in SME Lending, Plans to Double That in 2022by Fintech News Singapore July 29, 2021
Validus, a peer-to-peer (P2P) lending platform for small and medium-sized enterprises (SMEs), announced that it had exceeded S$1 billion in disbursals across the region.
The firm said that this development comes as it enters its sixth year of operations.
In a previous finding from Validus’ Economic Impact Report, over 300,000 Singaporeans had directly or indirectly benefited from Validus’ SME financing platform.
Validus was approved as a Participating Financial Institution (PFI) under Enterprise Singapore’s Enterprise Financing Scheme alongside local banks and established financial institutions.
Founded in 2015 to drive inclusive growth for SMEs and local economies in the region, Validus connects growing SMEs to accredited and institutional investors for fast, secure, collateral-free financing.
At present, Validus is live in three countries in Southeast Asia; its Indonesian arm Batumbu, Validus Vietnam, and Siam Validus in Thailand.
Validus added that there are also plans to explore further expansion across the region and digital plays, specifically digital banks in some markets in the near future.
“Our first $1 billion took us five years. The next milestone of $2 billion will take us only one year.
By growing and strengthening existing partnerships, forging new ones, and building a genuinely differentiated fintech proposition, we will continue to grow our support for underserved SMEs in the region.”
said Nikhilesh Goel, Co-Founder and Group CEO of Validus.