Asia Digest: Collectius, IFC team up for debt resolution platform; AMTD Digital bags $285m

US dollars. Photographed by Colin Watts on Unsplash

Singapore-based, pan-Asian debt management pioneer Collectius has partnered with IFC to launch a $60 million regional investment platform while digital financing company AMTD Digital has raised $285 million in a new financing round.

SG’s Collectius and IFC launch $60m debt resolution platform

Singapore-based, pan-Asian debt management pioneer Collectius has partnered with IFC, a member of the World Bank Group, to launch a $60 million regional investment platform dedicated to acquiring and resolving unsecured debt in Indonesiathe PhilippinesMalaysiaThailand, and soon Vietnam.

According to an announcement, IFC has also become a minority equity shareholder in Collectius, at a post-money valuation of $80 million, taking the company’s total capital raised to $123 million over six years.

The platform aims to sustain the financial stability of the economy by helping regional banks strengthen their balance sheets by outsourcing the management of non-performing loans (NPLs), assisting debtors with their credit requirements, and rehabilitating the debtor’s financial position.

“The partnership strengthens our influence in the market and the capital increase means we can further support banks and finance companies that want to sell their NPL portfolios. Most importantly, the new platform allows us to not only assist individuals struggling with debt, but also move the industry towards higher standards in ethics and regulations,” said Gustav A. Eriksson, founder and CEO, Collectius.

Collectius is a debt management company. It is majority-owned by the two founders Gustav A. Eriksson and Ivar Bjorklund, with the remaining owned by Stena AB and Formica Capital.

AMTD Digital raises $285m

AMTD Digital, the digital finance arm of Hong Kong-based financial services firm and investment bank AMTD Group, has raised S$386 million ($285 million) in a new financing round, e27 has reported.

Key investors including Value Partners, Greater Bay Area Homeland Investments, Vision Knight Capital, Ariana Capital, Maoyan Entertainment, and Infinity Power participated in the funding round.

AMTD Digital is the integrated digital finance platform arm of AMTD Group covering four segments, including digital finance licences, smart data analytics, digital alliance ecosystem, and digital strategic investments.

In March, AMTD Digital said that it is acquiring a controlling stake in Singapore-headquartered insurance startup PolicyPal. In May 2019, AMTD and Xiaomi Corporation announced that their jointly-established entity, Insight Finch, successfully secured a virtual banking licence from the Hong Kong Monetary Authority.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.