Jenfi, a trailblazing fintech startup headquartered in Singapore, has secured a significant $6.6M investment in a pre-Series B financing round. The company, renowned for its pioneering model of offering ‘growth capital as a service,’ is a key player in the region’s financial services industry.
The investment round was led by Headline Asia and supported by a cohort of existing investors such as Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners, Golden Equator Capital, and Atlas Ventures, as per a TechCrunch report.
Jenfi’s unique approach to business finances focuses on expediting access to capital for online businesses, including e-commerce retailers, SaaS vendors, and consumer tech companies. Traditional financial institutions often present considerable hurdles to these businesses seeking capital for growth. Jenfi’s platform is designed to alleviate this issue, offering quick financing between $10,000 to $1m for marketing, inventory, and expansion efforts.
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The fresh investment will be utilized to grow Jenfi’s customer base in Singapore, Vietnam, and Indonesia, and penetrate new Southeast Asian markets like Malaysia, the Philippines, and Thailand. The funds will also enable enhancements to its credit underwriting and risk assessment systems, with a particular focus on improving its unique risk assessment engine.
This risk assessment tool employs data from a variety of sources, such as accounting software, payment gateways, e-commerce platforms, and digital advertising, to continuously oversee the borrower’s business activities. This engine plays a crucial role in lending decisions, offering insights into the revenue growth and marketing ROI of the companies Jenfi supports.
Since its inception four years ago, Jenfi, led by Monk’s Hill Ventures, has disbursed over $25m in non-dilutive capital to roughly 600 companies. Companies benefiting from Jenfi’s portfolio have collectively generated sales exceeding $150m.
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Headline Asia’s partner Aki Okamoto and principal Jonathan M. Hayashi praised Jenfi’s impressive performance, citing their superior technology, product, operations, and traction compared to other players in the Asian market.
Looking ahead, Jenfi plans to leverage synthetic data to improve client behavioural analysis and future outcome prediction. They also intend to create a tech platform enabling third parties to apply Jenfi’s proprietary scoring models within their infrastructure. Future goals also include extending growth capital to more clients through dynamic limits, tailored to client needs and creditworthiness.
Note: This news is based on information from Fintech Global.