Fintech lender Jenfi raises US$6.6 million in pre-series B funding round
Add BT as a preferred sourceVarun Karthik
FINTECH startup Jenfi, which provides revenue-based financing to digital businesses in South-east Asia, has closed US$6.6 million in a pre-series B fundraising round led by venture capital firm Headline Asia.
Other investors who participated in the round include Monk’s Hill Ventures, ICU Ventures and Granite Oak.
No venture debt was involved in this funding round.
The additional funding will enable the company to accelerate its technological development and enhance the speed and accuracy of its credit underwriting and risk assessment capabilities, Jenfi said on Tuesday (May 16).
Jenfi’s chief executive Jeffrey Liu said he also plans to expand the company’s offerings to more customers across the region.
Before he co-founded Jenfi, he built and exited the fitness subscription company GuavaPass alongside Justin Louie, also a co-founder at Jenfi.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
The startup offers loans of up to US$1 million as non-dilutive capital to businesses in areas such as consumer-tech, e-commerce and Software as a Service. Instead of looking at financial statements alone, Jenfi said it uses a wider range of data sources to monitor and underwrite businesses.
To date, the company has deployed more than US$25 million to over 600 companies.
Jenfi previously raised US$6.3 million in a Series A round led by Monk’s Hill Venture in August 2021, which came after a US$25 million debt round raised from San Francisco-based Arc Labs.
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.
