Jenfi, a Singapore-based startup that operates as a "growth-capital-as-a-service" platform, providing revenue-based financing to online businesses, raised $6.6 million in pre-Series B funding.
The round was led by Headline Asia, with participation from Monk's Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, and Atlas Ventures.
With the new funding, Jenfi intends to expand its customer base in Singapore, Vietnam, and Indonesia, while also targeting new markets in Southeast Asia such as Malaysia, the Philippines, and Thailand.
Furthermore, the funds will enable Jenfi to enhance its credit underwriting and risk assessment capabilities, including its proprietary risk assessment engine.
Jenfi plans to offer growth capital to more clients by implementing dynamic limits that can be adjusted based on client needs and creditworthiness. Additionally, the company intends to launch an on-demand financing product to cover recurring growth capital needs, such as variable monthly advertising expenditures.
Jenfi aims to solidify its position as a prominent growth capital-as-a-service platform in Southeast Asia, supporting online businesses with accessible and tailored financing solutions while leveraging its proprietary risk assessment engine and innovative underwriting systems.
Company: Jenfi Pte Ltd
Raised: $6.6M
Round: Pre-Series B
Funding Month: May 2023
Lead Investors: Headline Asia
Additional Investors: Monk's Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, and Atlas Ventures
Company Website: https://jenfi.com/
Software Category: Growth Capital-as-a-Service Platform
About the Company: Founded in 2019 by Jeffrey Liu and Justin Louie, Jenfi offers financing options ranging from $10,000 to $1 million for various growth-related purposes like marketing, inventory, and expansion campaigns. The company's decision-making process for lending is facilitated by its proprietary risk assessment engine, which integrates with multiple data sources such as accounting software, payment gateways, e-commerce platforms, online marketplaces, and digital advertising channels. This integration allows Jenfi to continuously monitor its borrowers' business activities, including revenue growth and marketing return on investment. Jenfi has already deployed over $25 million in non-dilutive capital to approximately 600 companies since its inception. Its clientele includes notable names such as Gushcloud, Ralali, Hello Health, Lamer Fashion, Buy2sell, and Mystifly.
Source: https://techcrunch.com/2023/05/15/jenfi-pre-series-b/