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Singapore’s Capital C raises US $53.3 mil in fundraising

Capital C Corp, a Singapore-based financial service provider, has raised US$53.3 million (SGD$74 mill) through their recent fundraising exercise. It was done with PhillipCapital, Luminor Capital, Paradise Group, and Citystate Group.

The company stated that the new funds would expand its lending capabilities and enhance its digital financial platform offerings. It will allow them to offer seamless experiences and competitive credit rates for the underserved in Singapore.

Capital C was founded in 2011 by Jeames and J John Cheow, two brothers. It offers curated financial services that aim to transform the traditional financing landscape. The company’s innovative loan origination techniques, which focus on the financially poor, exemplify how Capital C works.

“Capital C” was created after John and I started a small business in our early years. We struggled to get loans because we were a new business.

“This gave us the inspiration to help others who were in the same situation.” Capital C co-founder Jeames Cheow said Capital C was founded on our experiences.

According to him, the financially underserved include individuals who cannot obtain a credit card or bank loan because of low/lack credit scores and small businesses that are new or do not have a track record in financing.

They claimed that the company could bridge this gap by creating a range of financial services tailored to meet the needs of individuals and businesses. This would allow them to realize their full potential.

The company offers these services:

Individual Financing: Customers who need cash can apply for a loan on the digital platform within eight minutes.

Capital (SME Finance): This financing option empowers small and mid-sized enterprises (SMEs). It includes working capital loans, payroll loans, and expansion financing.

Capital Auto (Vehicles Finance): This digital platform provides car financing and vehicle flooring. Through its digital platform, which is integrated with Myinfo, the loans/hire purchase allows individuals to buy their dream cars or motorbikes in less than 24 hours.

Shop now – Buy Now Pay Later (BNPL). It is either an upcoming Installment payment option or a buy now, pay later (BNPL), which the company claims differs from its peers.

ACCORDING TO THE COMPANY, Capital C also expects a compounded annual rate (CAGR) of 132% between 2021-2025.

According to the group, it had disbursed more than 260,000 loans in Singapore. Capital C is expanding beyond Singapore to the Philippines and Malaysia, where it is licensed to operate.

Capital C offers an ecosystem of curated financial services to change the conventional financing landscape-using the innovative loan origination methods. This startup will undoubtedly succeed in the years to come. My best wishes to the entire team of Capital C. This will give them a huge accomplishment in the future.

Shishir Gupta, Founder and CEO, StartupLanes

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