The Singapore-based fintech Helicap announced Series A funding worth of $10 million (over Rp155 billion) led by Saison Capital, an investment ar of Japan-based consumer finance Credit Saison. The fund is available as equity issuance and managed fund placement of Asset Under Management (AUM) in the form of Redeemable Preference Shares.
Participated also the previous investor, East Venture, and the new ones, Access Capital, Lamivoie multi-family asset management, and other High Networth Individuals.
In total, Helicap has raised nearly $18 million in funding. The latest funding is said to be used to spur business expansion, improve credit scoring technology, and expand private debt investment products to overcome market turmoil due to the Covid-19 pandemic.
Helicap’s Co-Founder and CEO David Z. Wang explained that the Series A round was based on the company’s performance that exceeded expectations for the past year, including obtaining a Registered Fund Management Company (RFMC) business license from the MAS authority (Monetary Authority of Singapore) for children Helicap investment management.
Moreover, through the acquisition of Arcor Capital securities companies, the company now has a capital market business license (Capital Markets Services) for the sale and purchase of capital market products. Arcor Capital was acquired last year at an unspecified value.
“We are very proud of Credit Saison’s participation in the line of top investors and we will soon announce a number of strategic initiatives with Saison Capital next month,” Wang said in an official statement on Tuesday (28/4).
Yet to registered in OJK
When obtaining funds in 2018, Helicap plans to expand to Indonesia. In 2020, as Helicap obtaining various licenses in Singapore, the company is yet to obtained permits from OJK or registered as an association member.
This should be Helicap’s next focus. The company announced Ilham Akbar Habibie as Special Advisor. Ilham is the President Commissioner of Bank Muamalat and Co-Founder of Ilthabi Rekatama, a private investment company. His presence is expected to help Helicap sharpen its business in Indonesia, as one of the company’s main markets.
“I’m excited to work together and become an advisor to fintech companies like Helicap. […] Data-based companies such as Helicap will play an important role in the alternative lending market,” Ilham mentioned.
Helicap calls itself the Capital as a Services platform covering B2B2C service. They do not provide loans directly, but channel loans from organizations that have become partners by providing guarantees from the data analysis conducted.
The company holds access to credit data collected by various financial organizations. The data proceed in such ways that provide insight for investment allocation. It is considered to be a “helicopter view” or a comprehensive understanding of the business to be invested.
Helicap focuses on credit analytic technology and strict scoring models in examining millions of lending data points from various issuing platforms, allowing Helicap’s subsidiaries to provide risk-adjusted returns to investors.
“Southeast Asia is the most growing economic region, driven by SMEs. In fact, that growth also results in a fragmented loan ecosystem, unable to serve capital loans for business as a whole,” Wang revealed.
The company is based in Singapore with a wide area coverage in Southeast Asia, Hong Kong, and Australia.
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Original article is in Indonesian, translated by Kristin Siagian
