Singapore's Capital C raises US$53.3mil in fundraising

Capital C Corp, a Singapore-based financial services provider, has bagged US$53.3 million (SG$74 million) in their recent fundraising exercise with PhillipCapital, Luminor Capital, Paradise Group, Citystate Group, and various family offices and ultra-high net worth individuals.

In a statement, the company said the fresh injection of funds will serve to fuel their lending capabilities and expand their digital financial platform offerings to provide a seamless experience and also competitive credit rates to the underserved communities in Singapore.

Founded by two brothers, Jeames Cheow and JJohn Cheow in 2011, Capital C offers an ecosystem of curated financial services to change the conventional financing landscape – using its innovative loan origination methods, with a keen focus on the financially underserved, the company said.

"Capital C came about after JJohn and I started a business in our early years, where we struggled to obtain loans as a relatively new and small business in the market.

"This inspired us to help those who find themselves caught in the same struggle. With our experience, we were able to venture into the financial sector, and started Capital C with one goal in mind – to develop and provide financial services for any individual or business seeking credit access, from all walks of life," said Jeames , co-founder of Capital C.

He said the financially underserved includes individuals who are unable to obtain a credit card or a bank loan due to low/lack of credit scores, and small businesses which are newly incorporated or have no financing track records.

The company claimed to bridge that gap for them by developing a range of financial services that are tailor-made to fulfil the needs of these individuals and businesses, helping them realise the full potential of their business.

The company offers the following:

Individual Financing: Integrated with DocuSign & MyInfo, customers who require cash loans can get their loan approved on the digital loan platform in less than eight minutes, anytime, anywhere.

Capitall (SME Financing): This empowers small and medium enterprises (SMEs) through various financing solutions, such as business loans, working capital loans, payroll loans, expansion financing, and bridging loans.

Capitall Auto (Vehicles Financing): This is a digital automotive financing platform, designed to provide car flooring, as well as in-house loans. The loans/ hire purchase enables individuals to purchase their dream cars and motorbikes within 24 hours via its digital platform integrated with Myinfo.

ChopNow - Buy Now Pay Later (BNPL): This is an upcoming Instalment Payment Option or a buy now pay later (BNPL) solution which the company claimed differs significantly from its peers.

Looking beyond the horizon, Capital C is also expecting a forecasted compounded annual growth rate (CAGR) of 132% between 2021 and 2025, the company said.

The group claimed that it has disbursed over 260,000 loans in Singapore. Beyond Singapore, Capital C plans to expand into the Philippines and Malaysia, where they are licensed to operate, and subsequently into the wider Asean and Oceania region.