XenCapital, the lending arm of fintech unicorn Xendit, secures $50 million in a credit facility from alternative lender Helicap.
Moses Lo, co-founder and CEO of Xendit said, “This collaboration enables us to expand our reach and provide much-needed capital to our merchants in the Philippines and beyond,”
An alternative lender called XenCapital provides extremely viable underbanked enterprises with flexible financing options. It provides financial solutions that are specifically suited to the operational requirements and expansion goals of organizations by utilizing a variety of alternative data sources and risk-scoring criteria.
Helicap links international investors with Southeast Asian private debt opportunities. By working with 1,000 regional originators, the company hopes to deploy funds to 300 million underbanked people and close a $400 billion funding gap that banks are unable to handle.
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Helicap has established networks with hundreds of platform partners since its founding, giving them access to 200 million potential borrowers in the area. Since 2018, the group has enabled transactions totaling more over USD$370 million.
In the past six years, Helicap has used its in-house data analytics skills to deploy about US$400 million and raised more than US$15 million in paid-up capital through its regulated subsidiaries. In return for an 8% interest, it recently obtained an undisclosed investment headed by the financial conglomerate Kenanga in Malaysia.
Credit Saison, Tikehau Capital, which is supported by Temasek, PhillipCapital, East Ventures, Access Ventures, Voveo Capital, and SoilbuildGroup are among the other investors in the company.
About XenCapital
Xen is a transparent alternative investment marketplace that allows asset managers and wealth advisors to close deals more quickly and anywhere. It is the first platform to offer zero upfront fees. Their technologically advanced platform expanded the investor base available to alternative investment managers and expanded the product reach for wealth advisors.
