Singapore-based SME financing platform Validus has raised over US$14 million, with US$20 million in committed capital, in an ongoing Series B+ financing round.
The round was co-led by Vertex Growth Fund and Kuok Group's Orion Fund managed by K3 Venture Partners.
Founded in 2015, Validus provides a platform in Singapore, Vietnam and Indonesia where SMEs can access financing from accredited and institutional investors.
The new funding will be invested in the startup's technology platform, building up its position in its three markets, and entering a new one - Thailand - in the fourth quarter.
MX Kuok from K3 Ventures says: "We are highly impressed by the leadership and depth of credit management experience at Validus.
"The team has demonstrated the unique ability to capture critical data points, combined with comprehensive machine learning capabilities, to identify high-potential SMEs that may have fallen through the gaps of the traditional banking model."