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Singapore Fintech Firm Jenfi Raises $6.6 Million In Its Pre-Series B Round

  • By: Asia Business Outlook Team
 Asia Business Outlook Team

Jenfi, a "growth-capital-as-a-service" platform, may provide revenue-based funding to online firms in as little as a day. Headline Asia led the $6.6 million pre-Series B fundraising round for the Singapore-based firm. Monk's Hill Ventures, which led Jenfi's Series A two years ago, as well as ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, and Atlas Ventures, participated.

Jenfi has distributed more than $25 million in non-dilutive cash to over 600 companies since its establishment four years ago. Gushcloud, Ralali, Hello Health, Lamer Fashion, Buy2sell, and Mystifly are among its clients. The fresh funds will be used to expand its customer base in Singapore, Vietnam, and Indonesia, as well as enter other Southeast Asian countries such as Malaysia, the Philippines, and Thailand. Jenfi will also be able to improve its credit underwriting and risk assessment capabilities, including its proprietary risk assessment engine, as a result of this transaction.

Jeffrey Liu and Justin Louie started the fintech in 2019, after their previous firm, fitness marketplace GuavaPass, was bought by ClassPass. Jenfi's "growth capital as a service" approach was created after the two saw that online business owners, such as e-commerce sellers, SaaS and consumer tech suppliers, sometimes struggled to obtain financing from traditional banking institutions to pay their expansion needs.

Read More News :

Xflow, An Indian Finance Startup Raises $10.2M in Pre-Series A Led By Square Peg
Singapore's Medical Startup Raises Fresh Funding From East Ventures

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