Singapore fintech Validus Capital expands to Indonesia

It aims to plug SME funding gap through its domestic business entity, Batumbu.

Singapore-based SME lending platform Validus Capital has launched its Indonesian business entity Batumbu in partnership with Triputra Group.

Batumbu marks Validus’ first Southeast Asian market outside of Singapore and works by connecting Indonesia’s SMEs - ranging from food and beverage (F&B), services, engineering, construction industries - with accredited, institutional and high net worth investors.

Batumbu uses proprietary technology and credit scoring systems to help provide SMEs with access to financing.

Validus has also appointed Sonny Joseph as its CEO, having over 23 years of experience across SME banking and entrepreneurship.

In February, Validus raised $20.5m (US$15.2m) in an oversubscribed Series B funding round led by Dutch public-private development bank FMO and invests in private sector growth in emerging markets.