Participated · Series B · May 2023

Jenfi provides revenue-based financing to online businesses, offering funding from $10,000 to $1 million with flexible repayment plans of three to 12 months. The company was founded in 2019 by Jeffrey Liu and Justin Louie and is based in Singapore. Since inception it has deployed more than $25 million in non-dilutive capital to about 600 companies, whose aggregate sales exceed $150 million. Jenfi differentiates via a proprietary risk assessment engine that integrates with accounting software, payment gateways, e-commerce platforms, marketplaces and advertising channels to continuously monitor borrowers. The firm has implemented a machine learning-assisted underwriting system and is adding local data integrations (including Haravan, KiotViet and most banks in Singapore, Vietnam and Indonesia) to improve credit decisions. Future plans include refining underwriting and risk capabilities, working with synthetic data, building a tech platform for third parties to use its scoring models, launching dynamic limits and an on-demand financing product for recurring ad spend. Jenfi provides revenue-based financing of up to $500,000 with flexible, target-based repayment plans and a flat fee, positioning itself as “growth capital as a product.” Founded in 2019 by Jeffrey Liu and Justin Louie, the company focuses on digital-native firms such as SaaS providers and e-commerce sellers and runs a fully online application process that can deliver financing in under 24 hours in some cases. Its proprietary risk assessment engine integrates data from bank accounts, accounting software (Xero, QuickBooks), payment gateways (Stripe, Braintree), e-commerce platforms (Shopify, Shopee, Lazada) and advertising platforms (Facebook Ads, Google Ads). Jenfi reports that the average customer saw compounded sales growth of ~26.5% over three months, 60% over six months and 156% over 12 months; aggregate sales across its portfolio exceed $30 million. The company previously raised $25 million in debt financing from San Francisco-based Arc Labs and aims to deploy $15 million by July 2022. Part of the new funding will be used to build additional integrations and automated analytics and to expand tools and services beyond financing to help portfolio companies grow. Jenfi offers growth-focused financing to small and medium businesses in Southeast Asia, lending directly or issuing a virtual Jenfi Mastercard for purchases. The company funds marketing-driven growth and takes a percentage of future revenue rather than imposing fixed repayment schedules. Jenfi partners with marketing agencies and services to help borrowers optimize alternative marketing channels, while avoiding becoming a direct service provider. Founders Jeffrey Liu and Justin Louie launched the business from a base in Singapore and are positioning marketing growth as their initial product focus. Since launch last year the startup has onboarded 50 borrowers and lent SGD$600,000 to date. Jenfi is currently going through Y Combinator and plans to expand to additional geographies and broaden its product offering over the next two years.

Participated · Equity · Jan 2022

Timo Digital Bank is a Ho Chi Minh City–based digital bank founded in 2015 by CEO Henry Nguyen. The company operates as a digital bank and in 2019 announced a strategic partnership with Viet Capital Bank. In 2022 Timo secured $20M in funding to support its growth. The company intends to use the funds to expand operations and broaden its business reach. Investors named in the round include Square Peg, Jungle Ventures, Granite Oak, FinAccel, Phoenix Holdings (an existing investor) and other angels.

Participated · Equity · Jan 2022

Timo is Vietnam’s first digital banking platform, established in 2015, that provides customer‑centric digital banking services including eKYC onboarding. The company has positioned itself as the country’s leading digital bank and has pursued a vision of social banking to embed financial services into broader customer lives. In 2019 Timo announced a strategic partnership with Viet Capital Bank to accelerate its growth. The bank emphasizes speeding up onboarding and improving access for the largely unbanked population in Vietnam. Timo highlights continuous innovation and has received industry recognition and awards for its digital banking services. The company is based in Ho Chi Minh City, Vietnam. Timo is a mobile-first digital bank serving Vietnam’s millennials with a branchless banking model and a single physical cafe called the Timo Hangout for KYC and customer onboarding. Since launching earlier in the year it has onboarded about 4,000 customers, demonstrating early consumer demand. The platform operates as a digital front end with a licensed banking partner backend (VPBank). Timo targets city dwellers with smartphones and 3G—an addressable cohort the CEO estimates at roughly 6 million users concentrated in Ho Chi Minh City and Hanoi. The company plans to open a second Hangout in Hanoi in October to expand its physical onboarding presence. CEO and co-founder Claude Spiese, a former software consultant, has lived and worked in Vietnam for 20 years and shaped the product around local consumer behavior.

Participated · Series B · Sep 2021

Founded in 2017, Sunday positions itself as a full-stack insurtech, handling everything from underwriting to the distribution of policies. Its product suite includes online motor and travel insurance and Sunday Health for Business, an employee healthcare program. The company also partners to provide subscription-based smartphone plans. Sunday relies on AI and machine-learning models to automate pricing and scale underwriting for complex risks. It currently serves 1.6 million customers and says it doubled its revenue growth in 2020. With new capital, Sunday plans to expand into Indonesia and develop additional distribution channels, including insurance agents and SMEs. The firm also intends to extend its platform architecture to offer retail health insurance to existing health members and partners while continuing to grow its portfolio in Thailand and Indonesia.