The money will be used to facilitate the companies expansion to Hong Kong, development of technology and building its financial services portfolio.
Capital Match has built a digital invoicing platform and helps provide SMEs with credit risk assessment, financing and collection tools and service to help them manage investments. It also helps SMEs receive funding efficiently because the startup’s database has a full ecosystem of investors looking for opportunities.
Also Read: Malaysian startup StoreHub raises US$5.1M in Series A round led by Vertex Ventures
A major reason why Capital Match chose to move to Hong Kong is because of its hands-off regulatory culture, according to Pawel Kuznicki the Founder and CEO,
“Our first choice after Singapore has been Hong Kong due to its supportive regulatory environment. There is a large and equally developed factoring market in Hong Kongbut it is still in its early stage in terms of online spot invoice financing disruption,” he said.
B Capital, a fund created by Facebook Co-founder Eduardo Saverin, is known for investing in HealthTech and logistics companies. Its notable portfolio companies include Ninja Van and CXA Group. The investment in Capital Match marks a foray into fintech.
“We have been actively looking at fintech opportunities, especially addressing the large and growing SME lending market. Capital Match is well positioned to transform lending to SMEs with its strong credit processes, operations and technology,” said Kabir Narang a Partner at B Capital in a statement.
Capital Match is a Invoice Financing Provider in Singapore
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