Singapore fintech startup Helicap acquires securities firm Arcor Capital

David Z Wang and Quentin Vanoekel - co-founders of Helicap

Helicap, a Singapore-based fintech startup, has acquired securities firm Arcor Capital for an undisclosed sum, according to an announcement.

Based in Singapore, Arcor Capital specialises in private debt securities and growth capital for early-stage and mid-market enterprises in Asia.

It holds a Capital Markets Services (CMS) licence for dealing in securities from the Monetary Authority of Singapore (MAS).

Arcor Capital will join sister company Helicap Investments under the Helicap Group. Helicap Investments is the group’s newly obtained fund management subsidiary, which will launch its first fund with a target AUM of S$200 million to invest in a portfolio of loans selected from alternative lending platforms operating in Asia.

Helicap Group will use Arcor Capital and Helicap Investments to raise S$250 million in capital from accredited investors.

“Helicap’s acquisition of Arcor Capital is a landmark moment for our 18-month startup,” said David Z. Wang, co-founder and CEO of Helicap.

“The acquisition, together with Helicap Investments successfully obtaining registered fund management company status, enhances the group’s leading position in the alternative lending market and enables us to immediately ramp up our engagement with sophisticated investors via debt securities fundraising and credit fund management,” he added.

Patrick Hong and Rahul Khemka, the two co-founders and managing partners of Arcor Capital, will join Helicap. Both of them will remain in their senior management roles following the acquisition.

Established in Singapore, Helicap is a fintech platform specialising in the alternative lending market in Southeast Asia and Australia.

Last September, Helicap raised $5 million in a pre-series A round led by East Ventures and property firm Soilbuild Group Holdings.

Earlier, the company had raised a seed funding round of $1.5 million led by Singapore’s former Minister of State and the Chairman of Nufin Data, Teo Ser Luck.

Helicap Investments currently screens and accesses data to more than $200 million in qualified loans for business owners and individuals in Singapore, Hong Kong, Australia, Indonesia, Philippines and Cambodia.