Singaporean FinTech Validus is looking to change SME financing on the back of its new Series B+ round.
The new capital injection has seen the Southeast Asian Validus add $20m to its coffers, bringing the total raised by the venture to $40m, according to TechCrunch. It announced a $15.2m in 2019 and picked up $2.9m in 2017.
Vertex Growth fund and Kuok Group’s Orion Fund co-led the round that also saw participation from previous investors FMO, the international development bank of the Netherlands; Vertex Ventures Southeast Asia and India; Openspace Ventures; AddVentures; and VinaCapital Ventures.
Validus co-founder and COO Nikhilesh Goel told TechCrunch that the coronavirus crisis has seen an uptake in SMEs seeking short-term financing.
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