New Delhi: Jenfi, a FINTECH startup operating in South-east Asia, has successfully concluded a pre-series B fundraising round, securing a total of US$6.6 million. Leading the investment was Headline Asia, a prominent venture capital firm. Other participants in the round included Monk’s Hill Ventures, ICU Ventures, and Granite Oak. Notably, this funding round did not involve any venture debt.
According to Jenfi, the newly acquired capital will be instrumental in expediting the company’s technological advancements. The funding will facilitate the improvement of credit underwriting and risk assessment capabilities, enhancing both speed and accuracy. On May 16, in a statement, Jenfi’s CEO, Jeffrey Liu, expressed his intention to broaden the company’s offerings to a larger customer base across the region.
Prior to his involvement with Jenfi, Liu co-founded GuavaPass, a fitness subscription company, alongside Justin Louie, who is also a co-founder at Jenfi. Jenfi specializes in providing revenue-based financing to digital businesses in sectors such as consumer-tech, e-commerce, and Software as a Service. In contrast to traditional approaches that primarily focus on financial statements, Jenfi adopts a comprehensive approach by considering a broader range of data sources for monitoring and underwriting businesses.
Since its inception, Jenfi has deployed more than US$25 million to support over 600 companies in the region. In August 2021, the company raised US$6.3 million in a Series A round led by Monk’s Hill Ventures. Prior to that, Jenfi secured an additional US$25 million in a debt round from Arc Labs, based in San Francisco.
With this recent funding success, Jenfi is poised to advance its position in the FINTECH landscape, harnessing technology to provide valuable financial solutions and support the growth of digital businesses across South-east Asia.