Helicap, a Singapore-based FinTech firm, has successfully secured a $50m credit facility with XenCapital, the lending arm of the FinTech unicorn Xendit, which operates across Southeast Asia.
The funding is set to play a pivotal role in supporting underbanked businesses within the region. XenCapital, a key player with a history of disbursing over $700m in loans since 2021, joins forces with Helicap to further their shared goal of driving financial inclusion across Southeast Asia.
The new funds will be used to empower businesses and stimulate economic growth within Southeast Asia. This aligns perfectly with Helicap’s mission to ease access to capital for underbanked businesses, helping to fill a substantial $400bn financing gap left by traditional banking systems.
In addition to the credit facility, Helicap boasts a strong backing from notable investors including Malaysia’s Kenanga Investment Bank Berhad, Japanese firm Credit Saison, Temasek-backed Tikehau Capital, integrated Asian financial house PhillipCapital, and top VC firms such as East Ventures, Access Ventures, Voveo Capital, and leading Singapore property group Soilbuild Group Holdings.
David Z Wang, Co-founder of Helicap, said, “We have arrived at a significant milestone for our business. Our partnership with XenCapital aligns with Helicap’s mission to ease access to capital to underbanked businesses in Southeast Asia, and we are honoured to work together to achieve this long-term vision. Helicap remains committed to driving financial inclusion in the region, and we are impressed by Xendit’s extensive payment ecosystem it has built in the region and its lending know-how.”
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