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Credit management services provider AsiaCollect raises US$1m from Dymon Asia

CREDIT management services (CMS) provider, AsiaCollect, has raised US$1 million from Dymon Asia Ventures via a Pre-Series A equity funding round, the firm said on Monday.

Dymon Asia Ventures is the venture capital arm of Dymon Asia Capital, a Singapore-based alternative investment management firm with about US$5.2 billion of assets under management as at July 31, 2017.

Singapore-based venture builder, Forum Capital, and the company's management had previously provided seed funding. This round brings AsiaCollect's total financing to-date to over US$2 million.

Said CEO and co-founder of AsiaCollect, Tomasz Borowski: "The CMS market in South-east Asia is in its infancy. The market is expected to grow very quickly, as the rapid evolution of consumer finance will demand increasingly professional solutions to the non-performing loan (NPL) issue. This is validated by the experience of many other emerging markets, as well as our own rapid growth in Vietnam since launching last year."

sentifi.com

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Over the next five years, AsiaCollect estimates that there will be over US$40 billion of non-performing consumer loans generated in the company's core markets of Indonesia, Vietnam, and the Philippines, representing a massive market opportunity.