Capital Match Holdings Pte. Ltd. (Capital Match), a Singapore-based fintech company which operates a regional platform for invoice financing and secured lending, has closed an oversubscribed Series B financing round led by B Capital Group, according to a media release.
Existing investor Dymon Asia Venture Capital Fund also backed the round. Financial terms of the investment are undisclosed.
The proceeds will support its latest expansion to Hong Kong, technology development and growth of its financing products portfolio. This investment will also see Kabir Narang, Partner at B Capital, as well as Dave Ng, Principal, join Capital Match’s board.
In addition to the equity funding, it has recently secured debt financing from institutional investors thus increasing its funding capabilities and the speed at which it can provide financing to SMEs. Capital Match’s last publicly disclosed investment is a $1 million Series A round led by Innosight Ventures.
B Capital, which counts Facebook co-founder Eduardo Saverin as a partner, backs investments in fintech, healthcare, industrial logistics, and consumer enablement companies.
Pawel Kuznicki, Founder and CEO, Capital Match, said, “The investment from B Capital together with the continuous support from Dymon Asia is a strong confirmation that we have built a unique online lending platform for Southeast Asian SMEs. We are seeing a significant financing gap for the region’s SMEs and are determined to address it by introducing new technologies across multiple countries.”
“Our first choice after Singapore has been Hong Kong due to its supportive regulatory environment. There is a large and equally developed factoring market in Hong Kong but it is still in its early stage in terms of online spot invoice financing disruption. Simultaneously we are also working on a number of strategic initiatives that would put the company on an exponential growth trajectory.”
Since the inception of its invoice financing product in February 2016, Capital Match claims to have originated cumulatively S$55 million for small and medium-sized enterprises (SMEs) in the city-state through its platform.
The firm competes with other peer-to-peer (P2P) crowdfinance platforms such as FundedHere, Funding Societies and Moolahsense, which offer equity and debt crowdfunding.
In this domain, a group of retail investors can pool individual funds and acquire equity in companies or extend it to businesses as loans. These platforms consolidate their investors’ funds and facilitate the origination of the transactions, list potential companies and SMEs as borrowers or investment opportunities on their platform.