Following this announcement, the Singapore-based fintech company VoloFin is set to offer small and medium-sized enterprises (SMEs) access to secure and efficient lending solutions, as well as manage supply chains using financial instruments and technology. The name of the investor remains undisclosed.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
The investment represents an important step into the company’s development strategy, as it will enable VoloFin to accelerate its plans to provide Indian exporters with optimised access to trade finance. At the same time, VoloFin will focus on increasing this funding limit to USD 150 million over the next two or three years.
The firm will remain committed to leveraging this investment in order to bolster its capabilities and bridge the trade finance gap for the exporters, who currently represent the backbone of the local economy. The funding round also comes at a time when investments in the Indian fintech economy are showing signs of recovery. The sector recorded a 66% year-on-year growth in funding to USD 778 million in the Q3 2024, while it also raised USD 471 million in Q3 CY23. At the same time, on a quarter-on-quarter basis, the overall funding to the fintech sector more than doubled from USD 293 million in Q2 CY24.
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