SG fintech firm gets $6.6m to expand automated business loans

Jenfi CEO and co-founder Jeffrey Liu / Photo credit: Jenfi

Getting financing can be difficult for many businesses, as the underwriting process can take several weeks on average.

Jenfi is looking to change this, particularly for digitally native companies.

Its solution enables same-day decision-making and disbursement by capturing data from accounting software, payment gateways, ecommerce firms, online marketplaces, and digital advertising platforms. With real-time monitoring, the company provides data-driven and revenue-based financing to its clients.

Funding details

• Funding amount: $6,600,000
• Lead investors: Headline Asia
• Other investors: Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners (KIP) (韩投伙伴), Golden Equator Capital, Atlas Capital (联升资本)
• Stage: Pre-series B
• Source

Since being established in 2019, the Singapore-based company has deployed US$25 million to over 600 companies. Jenfi offers up to US$1 million in non-dilutive capital per firm.

The fresh funds will be used to accelerate tech development and further develop its risk assessment and credit underwriting capabilities. It will also be used to help the company expand across Southeast Asia, beyond its current markets (Indonesia, Singapore, and Vietnam).

Jenfi, which also graduated from the Y Combinator accelerator, last raised a US$6.3 million series A round in 2021 led by Monk’s Hill Ventures.

See also: How Cermati’s valuation grew almost 10x in under 4 years

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