Doxa Holdings, Enterprise Procure-to-Pay, Financing, and Analytics for the Built Environment has raised Undisclosed Funding From Cento Ventures, a venture capital firm dedicated to supporting early-stage tech startups in Southeast Asia, positioning them to become market leaders.
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Doxa Holdings has cemented its foothold in the construction space by working with some of the top-tier contractors in its home market, Singapore. In addition, the company has entered the Indonesian market, starting with a customer in the healthcare industry. Through various partnerships formed with Visa as well as top banks in Singapore, the company is now working on expanding to Malaysia through a collaboration with a key financial institution.
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“Years ago, our mission began with addressing the real-world challenges faced by building contractors in Singapore. As we delved deeper, we recognised similar challenges existed in other industries, including logistics and healthcare. Consequently, we are actively expanding our reach to accommodate a broader spectrum of customers and explore new geographies. We take pride in our role of bridging the gap between SMEs and banks, unlocking economic growth throughout complex supply chains for the benefit of everyone involved,” said Edmund Ng, co-founder and CEO of Doxa Holdings.
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“We invested in Doxa to help address these two challenges faced by SMEs when it comes to digitising their procurement process as well as enhancing their accessibility for credit and financing from financial institutions,” Cento said in a statement. “A digital procurement platform like Doxa is essential for expediting and automating transaction cycles that often occur manually. It is also crucial in tracking and analysing transaction data that are usually inaccessible to lenders — this could greatly improve credit accessibility for the supply chain industry.”
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Targeting primarily the construction industry, Doxa’s procure-to-pay platform, Doxa Connex, provides a clear trail of the transactions that occurred. Such data is able to provide financial institutions the credibility that they need in assessing the creditworthiness of SMEs seeking financing. With Doxa, only verified invoices can be triggered for financing requests.
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About Doxa Holdings
Founded in 2019 by Edmund Ng, Leon Yeo, and Henry Kwan, Doxa Holdings is an enterprise cloud-based SaaS platform for SMEs that leverages modern technologies like Blockchain, Microservices, Cloud Computing, and AI, aimed to revolutionize connectivity between buyers and suppliers in their supply chain transaction process. This also enables, facilitates, and accelerates financing for all parties.
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