Small businesses in Southeast Asia employ 85% of the region’s workforce and contribute nearly half of its GDP. They face a financing shortfall of nearly $300 billion annually.
Singapore-based Validus provides digital lending for micro, small and mid-sized businesses in Indonesia, Thailand and Vietnam. Borrowers with a credit report and six months of bank statements – something many small businesses lack – can within a day get approved for an unsecured loan of up to $150,000 – something few mainstream financial institutions can match. Validus also provides invoice and purchase-order financing.
The company says it has originated $3.5 billion in loans since 2015.
HSBC provided a debt facility of $50 million from its $1 billion ASEAN Growth Fund to boost lending in Indonesia, Valdius’s biggest market. Its Indonesian lending is also supported by microfinance lender Oikocredit and Dutch development bank FMO.
