Singapore’s Cocoon Capital, IMO Ventures lead seed round in loan broker Lendela

By Quynh Nguyen

September 12, 2018

Singapore-based venture capital firm Cocoon Capital and IMO Ventures have led a S$1.3 million ($941,726) seed financing round in loan broker Lendela, according to an official release.

Lendela, a part of the global fintech group Zentro Finmarket, is a technology company connecting banks and consumers.

The company optimizes the loan application process by submitting a single application to multiple lenders. Lendela’s network lenders then respond fast with the best possible interest rates.

The portal is currently in beta release in Singapore and Malaysia with a full feature release planned for later in the year.

Will Klippgen, Managing Partner at Singapore-based seed fund Cocoon Capital, recently joined Lendela’s board of directors.

Cocoon Capital is a seed-stage venture capital fund based in Singapore focusing on early-stage, digital companies across Southeast Asia with assets under management targeted at $35 million ($25.3 million).

The fund invests in enterprise tech companies with a focus on the SaaS, fintech and deep tech verticals. It has done 10 investments till date and differentiates itself by working closely with portfolio companies to unleash their potential.

“Lendela is part of the new wave of empowering Asian consumers. Applying for and comparing loans are complicated and time-consuming processes and one bank can never satisfy all customer segments,” he said.

IMO Ventures is a global early-stage venture capital fund investing in and incubating frontier technology startups.

The fund supports its portfolio with both funding and the resources to localize cross-border startups that tackle emerging or under-represented sectors in Asia and North America.

“Lendela is bringing the bank to the consumer,” said Thomas Yao, Partner at U.S.-based IMO Ventures. “The $1.5-trillion household debt market in ASEAN is ripe for disruption.”

Also Read:

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Philippines: Cocoon Capital makes seed funding in ecommerce startup Poundit

Singapore fintech firm SixCap applies for liquidation – Report 

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.
APPLY NOW

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.
APPLY NOW