Singapore lending firm Helicap scores $10m in round led by Saison Capital

Helicap, a Singapore-based alternative lending startup, announced that it has raised US$10 million in a series A equity round and redeemable preference share funding.

Helicap co-founders David Wang (left) and Quentin Vanoekel / Photo credit: Helicap

The investment, which bumps up the company’s total capital raised so far to US$18 million, was led by Saison Capital, according to a statement. It also included participation from existing investor East Ventures as well as new backers Access Ventures and multifamily office Lamivoie, among others.

Helicap said the new capital provides it with a significant cash runway to move forward with its business expansion plans, which include enhancing its proprietary credit scoring technology and exploring further solutions in the private debt space.

“By bolstering our balance sheet, Helicap is well-positioned to weather the current economic storm,” said David Wang, the CEO and co-founder of Helicap.

Wang also said that the company’s series A raise comes after it registered its fund management subsidiary, Helicap Investments, with the Monetary Authority of Singapore. This allows it to conduct regulated fund management activities with up to 30 accredited and institutional investors and S$250 million of assets under management.

Less than a year ago, Helicap also obtained a capital markets services license for dealing in capital markets products through its acquisition of Arcor Capital, a lending firm that focuses on private debt and growth capital for early-stage firms in Asia.

In addition to the investment, Helicap also announced that Kosuke Mori, the managing director for Credit Saison Asia Pacific and the managing partner at Saison Capital, has joined its board of directors. This follows Helicap’s recent appointment of Akbar Habibie, chairman of Indonesia’s Bank Muamalat, as special advisor to the board.