Fintech company UNOAsia secures US$11m in pre-Series A round led by Creador

SINGAPORE-HEADQUARTERED fintech company UNOAsia announced on Tuesday (Aug 2) that it has secured US$11 million in its pre-Series A round led by Creador Private Equity and will be using it to “accelerate growth in the Philippines”. The company is a primary incorporator of UNO Digital Bank in the Philippines.

To date, Creador has invested a total of US$21 million, making it UNOAsia’s largest investor, with plans to further its investments in the future.

“The additional capital will help us to further invest to support our growth, as well as see us through the commercial launch of UNO Digital Bank, which is now a live operating bank under closed-loop ‘beta,’” said Manish Bhai, chief executive of UNO Digital Bank.

“Our investment in UNOAsia will allow us to promote financial inclusion in a country where only 10 per cent are borrowing from the organised sector, which in turn would make a positive impact on millions of Filipinos and the broader community,” said Omar Mahmoud, managing director of Creador.

UNOAsia said it has plans to create a “regional business” and expand beyond the Philippines over the next few years.

Its investor list includes founders Bhai and Kalidas Ghose, marquee investors Akash Bhanshali (Payash Securities), Samir Arora (Helios Capital) and other senior investors from the banking and financial sectors.