Jenfi Raises US$6.6 Million for Its “Growth Capital as a Service” Platformby Fintech News Singapore May 17, 2023
Singapore-based fintech firm Jenfi announced that it has raised US$6.6 million in a Pre-Series B funding round led by Headline Asia.
The round was also joined by Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, Atlas Ventures as well as other existing early investors.
Jenfi offers more flexible funding options to digital-native businesses looking to scale and claims to have deployed over US$25 million to more than 600 companies.
The fintech also integrates seamlessly with a wide array of data sources to monitor and underwrite businesses, such as accounting softwares (e.g. Xero and QuickBooks), payment gateways (e.g. Stripe and Braintree), e-commerce platforms (e.g. Shopify and Haravan), online marketplaces (e.g. Shopee and Lazada) and digital advertising (e.g. Google, Facebook, and Instagram ads).
With real-time access to these data sources, Jenfi can access, leverage and continuously monitor the business activity and health of companies, obtaining real-time data on revenue growth and marketing ROI.
Jenfi’s automated underwriting platform enables same-day decision-making and disbursement, streamlining the lending process for borrowers.
The new funding will allow Jenfi to accelerate its technological development and enhance the speed and accuracy of its credit underwriting and risk assessment capabilities.
Jenfi also plans to reinforce its existing market presence in Singapore, Vietnam and Indonesia by broadening its customer base while expanding into new markets across Southeast Asia.
Jeffrey Liu, Co-Founder and CEO of Jenfi said,
“We are honoured to be backed by such a distinguished group of investors as we strive to push the boundaries of innovation in the fintech lending industry.
This funding will enable us to expedite our vision for Jenfi and expand our offerings to a broader customer base across the region.'”