You are here
Digital debt collector AsiaCollect raises US$4.5m; investors include SIG Asia, Dymon Asia
ASIACOLLECT, an AI-driven, digital debt collection startup that provides integrated credit management services (CMS) in South-east Asia, has raised about US$4.5million in funding, it said early Thursday.
The investment round was led by global technology investor SIG Asia Investments, with co-investor Dymon Asia Ventures, the venture capital arm of Singapore-based alternative investment manager, Dymon Asia Capital. Dymon previously invested US$1 million in AsiaCollect’s pre-series A equity round in August 2017.
AsiaCollect aids bank and non-bank lenders recover their non-performing loans (NPLs) by reaching out to customers through automated SMSes, interactive voice recordings and predictive dialling systems.
The startup aims to deliver CMS efficiency for its clients through an integrated product offering, which includes CMS outsourcing, CMS advisory services, debt purchasing and software-as-a-service (SAAS), it added.
Proceeds from the investment round will be used "to support growth initiatives, including client acquisition in its core markets, enhancements to its SAAS solution, expansion of its collections’ infrastructure and teams, and to continue purchasing NPL portfolios".
Tomasz Borowski, chief executive officer and co-founder of AsiaCollect, said: “We are thrilled to have SIG on board as they have a unique track record of picking winners in financial services. As we move into the purchasing segment of the value chain, we are increasingly attracting significant investor interest, both from an equity and debt standpoint.”
Since AsiaCollect's launch in 2016, it has been managing over US$40 million in assets of more than 10 financial institutions and digital lenders across Vietnam, Indonesia and the Philippines.