Turnkey Lender has reportedly received an from Vertex Ventures.
While the transaction was undisclosed, several media reports have reported the value at $2m.
Singapore-based Turnkey is a cloud-based platform for the automation of the loan life cycle, from the origination to account servicing process.
The company offers a range of loan products including microfinance, cloud lending, peer-to-peer lending, payday loans, equipment leasing, retail lending, POS financing, direct lending, SME lending, mortgage lending, and medical financing, among others.
With the funding, the company plans to expand its SaaS platform into new locations within the region, continue with product development and hire more staff, according to an article by e27.
Currently the company has over 40 customers in 25 countries, with most of these being in the US, according to the article.
Earlier this week Vertex made a $2.9m investment in another Singapore-based company, Validus Capital.
Copyright © 2017 FinTech Global
