Heaptalk, Jakarta — Singapore’s startup Validus has bagged undisclosed investment from Japan-based gaming, advertising, and media company Reazon Holdings. With this investment, Reazon company will actively back Validus Vietnam’s business by providing support for financing procurement through its group network.
Traditionally, the startup perceived that SME in SEA remained underserved for obtaining financial solutions from traditional institutions due to strict collateral requirements and complex screening processes.
To bridge the obstacle, Validus Group leverages data analytics, AI technology, and strategic supply chain partnerships to provide a one-stop financial solution for underserved SMEs, promoting financial inclusion and prosperity for these growing businesses in the SEA region.
Previously, Validus secured a new injection at US$20 million in December last year from a growth-stage private equity firm, 01Fintech. This investment will enable this fintech startup to accelerate its expansion plans in Indonesia, enhance its technology, and solidify its position in supply chain financing.
“Reazon Holding has decided to invest in Validus Vietnam based on our evaluation of the high market potential from SME finance in Vietnam and the startup’s capability in its operations and lending record in other SEA countries,” Reazon company management said in the press release.
Before landing its additional injection, Singapore’s fintech startup secured its first tranche of an undisclosed amount in a Series C-1 round. The company will tackle this new injection to develop products and services further, focusing on enabling small businesses with faster and more convenient digital financing solutions.
Several new strategic investors back the round, including NongHyup Financial Group, NorinChukin Bank, Aizawa Asset Management, and Lotte F&L Singapore. Multiple existing investors also participate in this C-1 round, spanning the Vertex Ventures SEA and India, Vertex Growth Fund, FMO, and VinaCapital Ventures.
As a result, the startup noted its total revenue at US$10.1 million, with a loss before tax of US$13.4 million in 2022. In 2023, Validus claimed it generated a positive upward trend, including a 50% growth in revenue and a 40% decrease in losses. Welcoming a new year, the startup aims to snatch its EBITDA profit in the fourth quarter of 2024.
