Malaysia-based OSK Ventures International invests in fintech TurnKey Lender

Prisca Akhaya
Malaysia-based OSK Ventures International invests in fintech TurnKey Lender

The Singapore-based fintech TurnKey Lender secures an undisclosed amount of Series A1 funding round

Private equity firm from Malaysia OSK Ventures has announced the Series A1 investment it has made into Singapore’s fintech TurnKey Lender. Participating in this round also are Vertex Ventures’ fund for Southeast Asia and India and Western NIS Enterprise Fund, as reported by Deal Street Asia.

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TurnKey Lender said it will use the funding to accelerate company’s growth, expand its product offerings, and scale its footprint in the US, Europe and Southeast Asia.

TurnKey Lender’s service includes an AI-powered end-to-end lending business automation technology with credit scoring, decision automation, and loan management for various types of lenders from P2P microfinance to global financial institutions. Its mission is to tackle the apparent financing gap issue in Southeast Asia region.

Targeting online and offline non-bank lenders, TurnKey Lender has a loan management platform that’s delivered over the cloud, automated from application processing to collections and reporting on a Software-as-a-Service (SaaS) model.

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In a data gathered by McKinsey Global Institute, there is a US$175-billion gap in SME financing. With its cloud-based software platform, all non-bank lenders and small banks can automate and digitise their services and have access offered to financing to the sub-prime and underserved population.

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