Jenfi, a provider of revenue-based financing and analytics, has reportedly collected $6.3m in its Series A round, which was led by Monk’s Hill Ventures.
Additional contributions came from Korea Investment Partners, Golden Equator Capital, BVC, ICU Ventures and Taurus Ventures, according to a report from TechCrunch.
Funds from the round will be used to deepen its automated analytics capabilities. It hopes to enhance the solution to identify advertising opportunity with high returns through Google Ads and inform the company and ask if they would need finance to fund the campaign, it said.
Jenfi will also use the capital injection to increase its integrations for its risk assessment tool, which provides clients with insights on spending. Currently, the tool can monitor bank accounts, accounting software, payment services, advertising spending and use of e-commers platforms.
The FinTech company was founded in 2019 by Jeffrey Liu and Justin Louie. It provides alternative revenue-based financing to digital-native businesses and startups in Southeast Asia.
Companies can apply for capital of up to $500,000 to help them scale through marketing, inventory or growth strategies.
It assesses creditworthiness through how efficient a business is with their growth spending, it claims.
Previously, Jenfi has raised $25m in debt financing from San Francisco-based Arc Labs.
Copyright © 2021 FinTech Global
