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For the past five years, there have been growth periods for alternative lending companies in Southeast Asia, with 70% lending to non-banking or non-banking individuals who cover 70% of the region’s population. Fintech investment platforms have quickly become an important resource for capital, especially for small business owners. One example is a Singapore-based helicopter company.
Helicopter founder and CEO David Zi Wang resigns after eight years A.D. To establish the first investment company in 33 capital in 2016. But realizing that alternative loans are one of the most lucrative sectors, he sought a way to enter the market using technology to expand financial participation in the region.
“By the end of 2017 and the beginning of 2018, we have realized that digital credit is growing at an alarming rate,” Wang said. CASIA. “Not only what we call P2P players, but also traditional lenders through microfinance.”
A.D. In 2017, he teamed up with friends Cuntin Vanokel and Jeremy Tan, both of whom had experience in venture capital and set up a helicopter.
The company attracts capital from small and medium-sized enterprises (SMEs) and micro-business owners in Southeast Asia, Hong Kong and Australia, attracting network capital from family offices, information funds, large investors and institutional investors. Investors. His proprietary software provides extensive data analysis to evaluate potential investments, Wang said.
The purpose of Helicopter is to fill the $ 500 billion credit gap for SMEs by lending to 300 million non-bank and non-bank individuals in the region, according to the organization’s website.
Instead of lending directly to borrowers, money is transferred to microfinance institutions or P2P, which in turn provides the money.
Wang said this method allows the helicopter to reach more borrowers without having to do additional footwork. “If we do it ourselves, we can only reach hundreds of borrowers. But if we get into our partners, let’s say there are thousands of debtors, each with a debt, we can reach millions.
The company is not at that level yet. Helicopter has currently reviewed more than 300 platforms, including microfinance, peer-to-peer forums, and potential investors for small and medium enterprises. Helicopter’s role is to provide reliable and detailed analysis to investors, Wang said.
Helicopter uses artificial intelligence to disrupt the monthly data sent by its partners to normalize financial metrics such as credit book rates and interest rates. “We put it [the data] We create reports into our system and [for investors] Within minutes, ”Wang said,“ the same process could take months. ”
A.D. In 2019, Helicap Investments, a subsidiary of Helicopter Fund, registered with the Singapore Financial Authority. This will enable the company to manage financial transactions with up to 30 recognized and institutional investors and manage up to SGD worth $ 250 million ($ 176 million). Helicopter acquired Arcor Capital, which is licensed by the Capital Market Service, to sell its stock market products in the same year.
The company has so far invested in 15 forums, but Wang declined to comment further.
Helicopter service is available in Indonesia, Vietnam, Cambodia and the Philippines. At the helicopter platform, the company has lent $ 40 million to more than 150,000 small and medium enterprises and individuals.
New business lines
In April, Helicopup closed the $ 10 million Series A, led by financial services company Credit Saison, venture capital arm of Saison Capital. The investment has increased Helicopter’s total capital to $ 18 million, Wang said.
The company has partnered with Credit Syson for a pilot project in Southeast Asia, where it will use Helicopter’s loan analysis tool to identify debt financing opportunities. The pilot focuses on areas such as health or education that make a big difference to consumers. Helicopter provides data analysis and technology services to Credit Syson, Wang said.
In the next few years, Wang plans to set up regional teams to expand into new Asian markets. The company is working to improve credit analysis platforms to conduct estimates. Helicopter, along with Medtech and EDTEC loans, can make payments to other private financial sub-sectors, such as later services.
This article is part of KrASIA’s “Startup Stories” series, where KrASIA writers talk to the founders of technology companies in South and Southeast Asia.
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