<article>Australian online lending startup <a href="https://www.dealstreetasia.com/tag/Waddle/">Waddle</a> on Tuesday said it has secured Series A funding of A$4 million ($3 million) from tech investor <a href="https://www.dealstreetasia.com/tag/Allectus-Capital/">Allectus Capital</a>.</article>

Australian online lending startup <a href="https://www.dealstreetasia.com/tag/Waddle/">Waddle</a> on Tuesday said it has secured Series A funding of A$4 million ($3 million) from tech investor <a href="https://www.dealstreetasia.com/tag/Allectus-Capital/">Allectus Capital</a>.
The fresh capital will be used to aggressively scale the platform in Australasia and accelerate the integration of Waddle’s global financial services partners, the company said in a statement.
Founded in 2014, Waddle provides invoice financing solutions to help solve the working capital problem facing many SMEs. The company uses custom-built technology that can integrate with a customer&#8217;s accountancy platform and offer a line of credit that is unique to their own raised invoices.
“Cloud accessible data and the broader digital economy is quickly transforming how SMEs think about and solve their working capital constraints. Allectus share our vision of leveraging data and automation to provide SMEs with simple and cost-effective access to capital,” says Waddle co-founder Simon Creighton.
Allectus oversees A$400 million ($284 million) of assets across the Asia Pacific, UK and the US. The firm is managed and owned by ICM Limited, an international fund manager and corporate finance adviser with seven offices globally, which directly and indirectly manages $18 billion ($13 million) in funds.
As part of the transaction, ICM Chief Information Officer, Pierre De Villecourt, will join the board of Waddle.
For Waddle, the completion of the funding round follows an A$50-million wholesale debt facility it raised in November 2017.
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Waddle will use the fresh capital to scale the platform in Australasia and accelerate the integration of its global financial services partners.

Australia's online lender Waddle raises $3m Series A from Allectus Capital

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Australia's online lender Waddle raises $3m Series A from Allectus Capital

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