Integrated credit management platform AsiaCollect has secured $4.5m in a round led by SIG Asia Investments.
Existing backer Singapore-based investment firm Dymon Asia Ventures returned to support the new wave of financing. Last year, Dymon invested $1m into AsiaCollect as part of its pre-Series A round.
AsiaCollect offers organisations credit management services (CMS) including CMS outsourcing, CMS advisory services, debt purchasing, and SAAS technology. Its technology helps to automate a large chunk of the debt collection process, while also lowering field collection.
Banks and non-bank lenders use AsiaCollect to recover nonperforming loans (NLP). The company achieves this by contacting customers through automated SMS, interactive voice recordings and predictive dialling systems.
Singapore-headquartered AsiaCollect also helps clients to keep healthy balance sheets by acquiring delinquent loans.
The company currently manages more than $40m in assets of over 10 financial institutions and lenders in Vietnam, Indonesia and the Philippines.
These new funds will be used to support growth initiatives, which includes client acquisition in core markets, SaaS technology enhancements, expanding its infrastructure teams, and make further acquisitions of NPL portfolios.
AsiaCollect CEO and co-founder Tomasz Borowski said, “Over the medium to long-term, purchasing NPL portfolios off banks’ balance sheets is likely to be a major driver of revenue growth for AsiaCollect. We have already purchased our first portfolio from a large financial institution in Vietnam, and we are focused on executing on many more such transactions going forward.”
Earlier in the week, Dymon made an investment alongside Portag3 Ventures into Hong Kong-based digital bank Neat. The capital is set to support the challenger bank with the launch of new tools and features.
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