Singapore’s SME lending platform Validus Capital launches Vietnam unit

Singapore’s SME financing platform Validus Capital has expanded its operations to Vietnam with the backing of local asset management firm VinaCapital.

Validus’s Vietnam expansion marks its second international market foray after it entered Indonesia with its arm Batumbu in May 2019, the company said in a statement.

VinaCapital participated in Validus’s S$20.5 million Series B financing led by Dutch public-private development bank FMO and Temasek-backed Vertex Ventures.

Validus Vietnam will start pilot programmes with local partners including VinaCapital’s portfolio company Coteccons and pharmacy retail chain Mediacare Vietnam. It will enlarge the financing support for Vietnamese SMEs across various sectors, including manufacturing, real estate, construction, healthcare, consumer services, retail and wholesale trade.

Validus Vietnam will operate using the same proprietary technology and credit scoring systems currently used in Singapore and Indonesia, the firm said.

“Helping our SMEs to grow will be crucial for Vietnam’s continued rise as a Southeast Asian economy,” commented Tran Thi Thuy Ha, chief business officer of Validus Vietnam.

SMEs make up 97 per cent of the country’s total businesses but get access to only 22 per cent of the entire bank lending, according to an Asian Development Bank study in 2019.

In Singapore, Validus claimed that the SMEs it has supported increased their annual revenue by 17 per cent on average, contributed S$403 million to the city state’s GDP, and supported more than 10,000 jobs in the country.

“Their impressive track record as a fast-growing fintech company and the impact that they’ve delivered to date is testament to their commitment and ability to successfully drive inclusive growth for SMEs across the region,” said Trung Hoang, deputy managing director at VinaCapital.

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.