[Press Release] Fintech Siam Validus first foreign firm to be granted debenture crowdfunding license in Thailand

EMBARGOED UNTIL 3.00PM SGT (2:00PM ICT), 05 FEBRUARY 2021

Fintech Siam Validus first foreign firm to be granted debenture crowdfunding license in Thailand

• First SME debenture crowdfunding license issued by the Securities and Exchange Commission of Thailand (SEC) to a foreign Fintech firm since introduction of debenture crowdfunding regulations in 2019
• Siam Validus marks Validus’ fourth market in Southeast Asia, iterating its commitment to help drive financial inclusion for SMEs in the region
• Since its launch in 2015, Validus has facilitated over S$700 million in SME financing through its entities in Singapore (Validus), Vietnam (Validus Vietnam) and Indonesia (Batumbu)

SINGAPORE & THAILAND, 05 February 2021 – SME crowdfunding platform Siam Validus has become the first foreign fintech firm to be granted a debenture crowdfunding license by the Securities and Exchange Commission of Thailand (SEC).

The license will allow Siam Validus, a joint venture between award-winning regional fintech Validus and SCG Distribution, a leading company focusing on distribution and retail business, to support SMEs using SME financing solutions via debt crowdfunding, and drive capital flow and investment that is essential for the growth of SMEs and Thai economy.

The licensing follows a rigorous due diligence process by SEC, and reflects the regulator’s commitment to improve funding access for small and medium-sized enterprises (SMEs). Validus’ Co-founder and Executive Director Mr. Vikas Nahata said, “The license marks a significant milestone and paves the way for us to help drive the future of SME financing in Thailand. We thank the SEC team for facilitating the process so we are able to bring best practices and a strong governance framework that’s already in place from our regional operations to Thailand.”

SMEs play a pivotal role in Thailand’s economy, accounting for over 95 per cent of businesses and supporting more than 80 per cent of the country’s employment. However, despite its importance, the SME financing gap stands at 1.289 trillion THB, or 10 per cent of its gross domestic product (GDP).

Wareemon Niyomthai, CEO of Siam Validus, shared that many SMEs in Thailand are often unable to access financing to meet cash flow needs, and are unable to shorten their cash flow cycles to capitalise on opportunities. “Improving the accessibility of SME financing remains critical in order to drive their growth as well as that of our economy. We are working with our Corporate partner closely, to support their vendors and dealers, and with Siam Validus’ unique ability to effectively leverage technology and data we are confident we will meet the financing needs of underserved SMEs.”

Issaree Rojanasukarn, Corporate Development Manager at Siam Validus, said, “Fintech innovation is extremely important for SMEs in Thailand in these times. This is extremely crucial for our SMEs, particularly during this period as we emerge out of the pandemic.”

Siam Validus will operate using the same proprietary technology and award-winning credit scoring systems used by Validus that will be further adapted and tailored to the unique needs of SMEs in Thailand. Validus recently won the top award at the Monetary Authority of Singapore Fintech Awards 2020 for the Singapore Financial Institution category.

Since its launch in 2015, Validus has facilitated over half a billion (S$700 million) in SME financing across Singapore, Vietnam and Indonesia. The company is backed by highly reputed VCs including AddVentures by SCG, FMO, Vertex Ventures Southeast Asia and India, and Vertex Growth Fund, with a total funding of around S$50 million to date.

– END –

About Validus
Founded in 2015 to address the unmet financing needs of SMEs, Validus is today the largest SME financing marketplace in Singapore with a growing presence in Indonesia, Vietnam and Thailand. An award-winning Fintech, Validus uses Data Analytics and AI to drive growth financing to the underserved SME sector via funds from accredited high-net-worth individuals and institutional investors. Validus holds a Capital Markets Services Licence by the Monetary Authority of Singapore (MAS), and its Indonesian arm Batumbu has received OJK registration in April 2019. For more information, please visit www.validus.sg

For media enquiries
Email: [email protected]

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Elon Musk Buy Next

What Is Elon Musk Going to Buy Next?

There are moments in our lives—perhaps we are in the shower or struggling to sleep at 2 A.M.—when we think about all the ways we could influence the world. We find solutions to crypto volatility, world hunger and our neighbor’s ultra-dry plants.

5 Technologies

5 Technologies That Are on Stage in Russia’s Invasion of Ukraine So Far

On February 21, 2022, Vladimir Putin, President of the Russian Federation, declared the independence of the Donetsk People’s Republic and Luhansk People’s Republic. Arousing international outcry, this ignited the ultimate invasion of Russia on Ukraine three days later. While Ukrainians are still defying Putin’s covetous ambitions, new technologies have been floating on the surface to take advantage of each other.

Technology Joy Ghose

Technology Pioneers – Interview With Joy Ghose of FreeD Group

Over the past 15 years, the Chief Commercial Officer (CCO) of FreeD Group Limited, Joy Ghose, has accumulated plenty of experience in the travel and technology industry. Before joining FreeD Group, Ghose was involved in sales, marketing and management roles at companies like Merlin Entertainments and The Hong Kong Tourism Board.

Creamy Mattes and Beyond Reviewing GoPlay Cosmtics’ Custom Lipstick Maker

To Creamy Mattes and Beyond: Reviewing GoPlay Cosmtics’ Custom Lipstick Maker

While researching for our piece on personal color analysis, I came across the LIPSKIT, a custom lipstick-making tool created by GoPlay Cosmetics. GoPlay Cosmetics is a DIY (do-it-yourself) make-up brand that is looking to prioritize sustainability in the make-up industry without compromising the variety of your lipstick collection.

Ledger vs Trezor

Ledger vs Trezor: Where Should You Store Your Crypto Holdings?

As lucrative as the cryptocurrency world is, it comes with a high risk of losing your crypto because of hacks. To make sure that your crypto holdings stay safe with you, you must carefully choose effective storage solutions for them. One of the ways to keep your crypto secure is by holding it in a hardware wallet.