
Seedflex Technologies, a fintech company based in Singapore and started by two former Grab executives, has raised $3.2 million in extra seed funding. The round was led by Z Venture Capital (ZVC) and Iterative.
Seedflex said on Wednesday that the funding also included support from their current investor, 500 Global, and several strategic angel investors.
The company said the funding helps them support underserved businesses in developing parts of Asia and makes it easier for these businesses to get credit for cashless transactions.
This funding will also help Seedflex grow its business and expand into new Southeast Asian countries later this year, starting with plans to launch in Indonesia.
“In today’s tough and uncertain economy, having access to flexible credit is very important for micro, small, and medium businesses (MSMEs) to survive and grow.”
“These businesses form the backbone of all economies, and yet in emerging Asia, many continue to face huge challenges in securing the financial resources they need,” said Ritwik Ghosh, Co-Founder of Seedflex.
“Now more than ever, we want to bridge this gap to ensure entrepreneurs of all backgrounds have the same opportunities to access capital and contribute to our region’s prosperity, and we’re excited about working together with even more ecosystem partners and investors to help us achieve our vision,” he added.
Seedflex launched in Malaysia last year to give merchants easy access to its unique “Pay-As-You-Sell Advance”â„¢ (PAYS Advance). This flexible credit solution automatically adjusts loans and repayments based on how much sales revenue the merchant makes.
The company now provides an embedded credit API that their distribution partners can easily add to their platforms.
Seedflex’s operation in Malaysia is on track to break even by the middle of this year, showing impressive growth with an average of 35 percent increase in revenue each month since its launch in June 2024.
More than 5,000 merchants in Malaysia have received PAYS Advance offers, and Seedflex plans to grow that number to 50,000 merchants by the end of 2025.
The company works with over 10 merchant networks in Malaysia, including Curlec, senangPay, EasyEat, CHIP, and ipay88, to offer PAYS Advance to about 80,000 small businesses nationwide.
“We’ve been looking for bold, scalable solutions to close the credit gap for small businesses—one of the biggest challenges in Southeast Asia.”
“Seedflex’s pay-as-you-sell model immediately stood out. It’s not just a clever embedded finance approach—it directly addresses the core pain points in SME
lending,” said Janice Sa, Principal at ZVC, who led the investment.
“What impressed us the most was how its daily payment system reduces the cost of capital, which allows for better rates for merchants. That’s a big change. In the end, the team made us decide to move forward.”
“Seedflex Co-Founders Ritwik and Sauvik bring deep domain expertise, strong execution, and unwavering conviction—everything needed to scale this model across the region,”
Brian Ma, General Partner of Iterative, mentioned that the team has a lot of hands-on experience building large-scale embedded finance solutions at Grab.
“They fully understand this problem. By using real-time cash flow data and working with platforms that merchants already use, they’re finding the solution for flexible, responsible credit for businesses in Southeast Asia that need it the most.”
“We think embedded lending is a wedge into something much bigger, and Seedflex is the team to build it,”
Read also – Cleaver Officially Launches’ Buy Now, Pay Later’ Service in Egypt After Financial Supervision Approval