GXS’ acquisition of Validus’ Singapore business a sign of market validation
Singapore SME fintech lenders face constraints, including having to rely on international banks to fund loans on their platforms
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SINGAPORE] GXS Bank’s recent acquisition of small and medium enterprise (SME) lender Validus’ Singapore business is a sign of market consolidation and validation in South-east Asia.
To recap, the deal, announced on Apr 14 for an undisclosed amount, expands the digital bank’s SME offerings to include Validus’ trade financing and working capital loan expertise and customer base in Singapore.
Competitor Funding Societies sees Validus’ acquisition as a positive, with market consolidation having reduced the pie to a few notable players. This is also a sign of market validation as well, said Kelvin Teo, co-founder and CEO of Funding Societies.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
