SME loan provider Capital Match Singapore has reportedly bagged an undisclosed Series B round from B Capital.
The company also received a contribution from existing investor Dymon Asia Venture Capital Fund. Following the transaction, B Capital principal Dave Ng will join Capital Match’s board of directors.
Capital Match provides SME loans and invoice financing products, ranging from SGD 53,000 ($40,000) to SGD 200,000 ($153,000) over three to 12-month repayment periods. Through the platform, consumers can invest in to a company’s financing request and receive monthly repayments.
This equity will support the company’s expansion in to Hong Kong, as well as developing its financing products, the articles report.
Last year, Capital Match moved past the SGD $40m ($29m) loan origination mark and opened its platform to global investors.
Capital Match founder and CEO Pawel Kuznicki said, “We are seeing a significant financing gap for region’s SMEs and are determined to address it by introducing new technologies across multiple countries.
“Our first choice after Singapore has been Hong Kong due to its supportive regulatory environment. There is a large and equally developed factoring market in Hong Kong but it is still in its early stage in terms of online spot invoice financing disruption. Simultaneously we are also working on a number of strategic initiatives that would put the company on an exponential growth trajectory.”
The company raised a SGD $1m ($765,000) Series A round last year, with Innosight Ventures leading the round and Crystal Horse Investments and CE-Tech Invest also participating.
Late last year, B Capital took part in the $40m funding round in to Mumbai-based POS solutions provider Mswipe. The firm committed $10m to the funding round alongside DSG Consumer Partners.
This investment marks the seventh investment into Singapore’s FinTech sector this year, and the third transaction this week. Financial infrastructure company tryb raised a $30m equity injection from Makara Innovation Fund.
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