The round was led by international investment company Innosight Ventures. Previous investors Crystal Horse Investments and CE-Tech Invest also participated. The deal will see Innosight Ventures partner Pete Bonee join Capital Match’s board of directors.
Capital Match assists small- and medium-sized enterprises that have difficulty reaching out to banks and other traditional financing institutions for their borrowing needs. It enables P2P lending among individuals and businesses.
The startup provides an online platform where borrowers can submit their loan request, and prospective lenders can decide whether they want to extend the loan. The startup handles the entire process, including payment processing, due diligence, debt collection and investor updating.
The P2P lending through crowdfunding model is a recent fintech trend around the world. Players in this space include Lending Club and Prosper in the US and Funding Circle in the UK. Singapore is also home to loan crowdfunding platform Moolahsense and P2P lending startup Funding Societies.
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