Business & Economy Startups Filipino fintech startup First Circle raises US$26M Series A funding round

Filipino fintech startup First Circle raises US$26M Series A funding round




- Advertisement -

Venturra Capital led the funding round for First Circle, which provides loan for SMEs


Filipino fintech startup First Circle has raised a US$26 million Series A funding round led by Venturra Capital, Tech In Asia reported.

Insignia Ventures Partners, Silverhorn Investment Advisors, and Tryb Group also participated in the funding round.

The company plans to use the new funding to expand within the Filipino market, with long-term plan to enter other Southeast Asian markets.

- Advertisement -

It will also use the funding to increase its capital base to over US$100 million next year.

Also Read: SMEs going digital: How Verlocal aims to help workshop hosts embrace e-commerce

This funding round followed an undisclosed investment First Circle has raised from Accion Venture Lab and Deep Blue VC in April 2017.

It has also raised a US$1.2 million seed funding from Key Capital, 500 Startups, and IMJ Investment Partners in October 2016.

Founded in 2016, First Circle is an online lending platform that focusses on helping small and medium enterprises (SMEs). It develops proprietary software and credit scoring to increase capital access to unbankable communities.

What sets First Circle apart from its peer is the fact that the company also lends from its own balance sheet, instead of just partnering with third parties.

Since early 2018, it claimed to have lent US$75 million to businesses with just one per cent non-performing ratio.

Image Credit: Bash Carlos on Unsplash

The post Filipino fintech startup First Circle raises US$26M Series A funding round appeared first on e27.

Source: E27Follow us on Social Media

Send in your scoops to 

- Advertisement -

Upper Serangoon condo residents losing sleep over 4 fridge-related fires in 2 months 

Singapore—There have been seven fridge-related fires at Riversails Condominium in the past three years, causing much alarm to its residents. Four of the incidents occurred just in the last two months -- the latest in a sixth-floor unit where a fridge caught...

Post goes viral of man who wants to extend hospital stay as nobody cares for him at home

Singapore — A netizen has urged readers on Facebook to take care of their parents while they are still alive, after overhearing an elderly man in a hospital ask to stay longer since, he said, no one took care of him...

Praise for student who eats lunch discreetly out of respect for Muslim friends fasting

Singapore - A student has garnered praise for his sensitivity towards his Muslim friends fasting for Ramadan by eating his lunch discreetly. Syafiq Izwan Kassim, a teacher in Malaysia, took to Facebook on Wednesday (Apr 14) to share an experience with one...
Follow us on Social Media

Send in your scoops to