Singapore: SmartFunding closes $492k seed in round led by Fintech Asia Group

Singapore: SmartFunding closes $492k seed in round led by Fintech Asia Group

Visual of Smartfunding.sg website. November 2016

SmartFunding, a peer-to-business (P2B) platform that provides alternative financing solutions to small and medium businesses, has secured SG$700,000 ($492,396) in seed funding led by Fintech Asia Group, part of ASX-listed venture builder Fatfish Internet Group and Investorlend, an investment firm in Australia.

According to a press release, the P2B invoice financing platform bridges the SME funding gap by allowing them to sell their yet-to-be-paid invoices to investors who want to purchase future cash flows.

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