Fintech firm Helicap has secured $10 million in capital through a Series A investment round led by Saison Capital, the corporate venture capital division of Credit Saison, a Japanese consumer finance company.
Helicap’s fundraise consisted of equity and redeemable preference share financing.
Existing investor East Ventures, and new investors Access Ventures, multi-family office Lamivoie and several high net worth individuals (HNWIs) also took part in the firm’s latest round.
Helicap has raised a total of $18 million (to date). The Fintech company’s earlier rounds included contributions from Soilbuild Group, a property and construction company, and Teo Ser Luck, who has previously served as Singapore’s Minister of State at both the Ministry of Trade and Industry and Ministry for Manpower.
Helicap says it intends to use the funds raised to upgrade its credit-scoring technology and will consider pursuing various opportunities in Singapore’s private debt sector, particularly “in light of market dislocations brought about by the COVID-19 pandemic,” the firm noted in a release.
David Wang, CEO at Helicap, said that the Series A round “amid a very challenging [Coronavirus] environment testifies to the trust that our investors have placed in our team and our business model.”,
“By bolstering our balance sheet, Helicap is well positioned to weather the current economic storm.”
Kosuki Mori, managing partner at Saison Capital, noted that he’s looking forward to working with Helicap and providing the company with access to new business opportunities.
Mori will take a seat on Helicap’s board of directors.
“Saison Capital was founded with the aim of investing in founders who are building ecosystems that can distribute financial services to the underbanked, and that is exactly what Helicap is facilitating with its unique Fintech engine.”
Helicap’s asset management division has received an operational license from the Monetary Authority of Singapore. The Fintech company has also been awarded a capital markets services license, which allows it to participate in the city-state’s financial sector and offer various products and services.
The firm was able to obtain the license after it acquired Arcor Capital, a securities firm.