Validus, Southeast Asia’s peer-to-peer (P2P) lending platform for small and medium-sized enterprises (SMEs), announced that it has acquired KlearCard’s business payments and expense management technology platform.
The acquisition of the KlearCard platform will pave the way for Validus to accelerate its build-out of a credit-led and SME-focused neobank.
KlearCard’s platform enables businesses to issue virtual corporate cards instantly with built-in spend control features.
Validus’ neobank will offer a unified platform to provide SMEs with a fully integrated and holistic suite of financial tools and analytics to manage and grow their business.
Through Validus’ integration of KlearCard’s technology, businesses can expect to have a personalised and live mobile interface that provides them with the tools to manage their business seamlessly, and spend time focusing on growth.
Validus has just launched its Series C fundraise targeting US$ 100 million in equity and debt to enable the firm to strengthen its SME neobank and expand geographically to grow its support for underserved SMEs.
Nikhilesh Goel, Co-founder and Group CEO of Validus said,
“With the acquisition of KlearCard, we are well-positioned to strengthen our support for SMEs with one-stop financial management solutions that make it easier for them to grow and manage their business digitally.
We will continue to focus on product innovation and strategic investments in technology and people, which in turn, will drive success for our clients across the region.”
Featured image: Edited from Unsplash