Malaysian finance firm eyes Singapore moneylending sector
RCE Capital is investing S$40m in S'pore fintech Credit Culture, which aims to run a round-the-clock online loan platform
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Singapore
MALAYSIAN financing firm RCE Capital is staking a claim on the Singapore moneylenders market via a S$40 million fund injection into a Singapore fintech that will, in turn, offer lower lending rates and encourage prompt debt repayment.
The Singapore fintech, Credit Culture, plans to launch by the end of February a moneylending platform that offers loans with monthly interest rates capped at 1 per cent, its founder and CEO Edmund Sim told The Business Times on Tuesday.
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