AsiaCollect, a Southeast Asian leader in professional Credit Management Services (“CMS”), closed a Pre-Series A equity funding round. The round was underwritten by Dymon Asia Ventures, the venture capital arm of Dymon Asia Capital, a Singapore-based alternative investment management firm with c. $5.2 billion of assets under management (including committed capital and notional assets) as of 31 July 2017. Forum Capital, a Singapore-based venture builder, and the company’s management, had previously provided seed funding. This round brings AsiaCollect’s total financing to-date to over $2 million.
AsiaCollect is the first player to bring international standards of technological advancement and ethics to the non-performing consumer loan market in Southeast Asia. The company estimates that there will be over $40 billion of non-performing consumer loans generated in the Company’s core markets of Indonesia, Vietnam, and Philippines in the next five years, representing a massive market opportunity.
Principal at Dymon Asia Ventures Christiaan Kaptein commented: “AsiaCollect has been achieving remarkable revenue traction with its clients in Vietnam so far, and we see strong potential demand for its services in Indonesia and the Philippines as well. Credit Management Services is an $8 billion market-cap global industry that has seen over 40 M&A deals in the last decade. We draw particular inspiration from Eastern Europe, which albeit being a much smaller market than SEA, in the last decade produced a publicly-listed global Top 3 CMS player, with market capitalization of over USD 1 billion. We were impressed by the team’s expertise, technological platform, and achievements to-date, and look forward to supporting the company into the next phase of growth.”
CEO and Co-Founder of AsiaCollect Tomasz Borowski commented: “The CMS market in Southeast Asia is in its infancy. The market is expected to grow very quickly, as the rapid evolution of consumer finance will demand increasingly professional solutions to the non-performing loan (NPL) issue. This is validated by the experience of many other emerging markets, as well as our own rapid growth in Vietnam since launching last year. We believe that new professional players such as AsiaCollect will provide a good alternative to the field-based operations which are the market incumbents, and unlock greater outsourcing as well as selling of NPLs by the originators. We are excited about partnering with Dymon Asia Ventures and jointly building AsiaCollect into a dominant regional CMS market leader.”
AsiaCollect’s international management team collectively has decades of experience in Credit Management Services and Consumer Finance. The Company launched in Vietnam in 2016, and intends to use the funding from this round to expand into Indonesia, to start purchasing non-performing loans for its own book, and to launch its software solution as a SaaS.