The Social Loan Company, a Singapore-based FinTech start-up, has completed a new funding round, raising over US$25 million to finance plans to expand into new markets, increase headcount and ramp up its product development.
An investor consortium led by Abu Dhabi Global Market-domiciled ARV Investments took part in the financing effort. This round was the firm’s Pre-Series B. ARV Investments is a global vehicle under ARI Holding, an Abu Dhabi investment group that has a mission to invest worldwide and across diverse asset classes in defined industries.
“As we look to enter new markets in Latam, the Middle East, Sub-Saharan Africa and APAC, we are positioned to build on the strong support we have received to date,” Deepak Saluja, group chief executive and co-founder of TSLC.
The funding also drew commitments from different local, regional and international family offices, venture funds and sponsors, TSLC said.
The new capital will be disbursed towards powering the growth of TSLC’s digital lending operations. It will help to broaden its artificial intelligence and predictive analytics capabilities in select markets, while also allowing the firm add more talents to its global team.
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