Capital C Corporation secures S$74m funding to grow its digital ecosystem and help financially underserved segments
- Capital C announces its pre-seed equity and debt financing rounds, with key investors including PhillipCapital, Luminor Capital, Paradise Group, Citystate Group, and more.
- The funds will be directed towards expanding Capital C’s core team and technology capabilities to empower underserved individuals and businesses in Singaporeand expand its financial services ecosystem.
SINGAPORE, July 21, 2022 /PRNewswire/ — Capital C Corporationa SingaporeNew York-based financial services provider, pocketed S$74 million in its recent fundraising round from PhillipCapital, Luminor Capital, Paradise Group, Citystate Group, various family offices and Ultra-High-Networth-Individuals. The new injection of funds will be used to fuel their lending capabilities and expand their digital financial platform offerings to provide a seamless experience and also competitive credit rates to underserved communities in Singapore.
Founded by two brothers, Jeames Cheow and John Cheow in 2011, Capital C is a conglomerate that offers an ecosystem of organized financial services to change the landscape of conventional financing – using its innovative methods of loan origination, with a particular focus on the financially underserved. They pride themselves on leveraging the best emerging technologies in the market to streamline and modernize their workflows to better serve their customers.
“Capital C was born after JJohn and I started a business in our early years, where we struggled to get loans as a relatively new and small business in the market. It inspired us to help those who find themselves caught in the same struggle.With our experience, we were able to venture into the financial sector and launched Capital C with one goal in mind: to develop and provide financial services to any person or company wishing to access credit, all walks of life,” shared James Cheow, co-founder of Capital C.
Financially underserved people include people who are unable to get a credit card or bank loan due to low or insufficient credit scores, and small businesses that are newly incorporated or have no history. of financing. Capital C fills this gap for them by developing a range of financial services tailored to meet the needs of these individuals and businesses, helping them realize the full potential of their business. Essentially, Capital C offers the underserved community the opportunity to gradually build an alternative credit rating – an outlier from traditional financial institutions, through its comprehensive suite of financing solutions.
Integrated with DocuSign & MyInfo, customers who need cash loans can get their personal loan by Singapore approved on the digital lending platform in less than 8 minutes, anytime, anywhere.
The highly efficient and fully automated loan approval process is made possible through the use of proprietary algorithmic formulas in advanced predictive credit scoring methodologies.
Capital city (SME financing)
Capitall empowers SMEs through various financing solutions, such as business loans, working capital loans, payroll loans, expansion financing and bridging loans.
Capital C understands that every minute is crucial for a business. From application to loan disbursement, everything is quickly approved and processed within 24 hours.
Capital Auto (Vehicle financing)
Capitall Auto Financial Services is a digital auto finance platform, designed to provide car floors, as well as in-house loans. The mindless Internal loans / hire-purchase allows individuals to buy their dream cars and motorcycles in 24 hours via its digital platform integrated into Myinfo. The Vehicle Floor Financing service helps car dealerships purchase more vehicles to display in their showroom. As a leading motorcycle flooring supplier, Capitall Auto has also seen a surge in demand for motorcycle flooring installations.
“Citystate Group Pte. Ltd. has invested S$2.25 million through a combination of debt and equity in Capital C’s digital auto finance arm, Capitall Auto, in November 2019. We are convinced that Capital C’s unique positioning will allow it to continue to develop and grow exponentially in the years to come thanks to good leadership, digitalization and a progressive conquest of the market”, shared Mr. Leow Tze WenGroup CEO Citystate Capital Asia Pte Ltd and Group Managing Director Citystate Group Pte Ltd.
ChopNow – Buy Now, Pay Later (BNPL) – Installment Payment Option
The latest line of its financial offerings, Capital C, will launch a unique buy it now, pay later (BNPL) solution that differs significantly from its peers.
With a particular focus on the financially underserved, Capital C offers a unique proposition – to offer anyone, including the underserved, the opportunity to use Solutions Buy Now Pay Later (BNPL) in Singapore. Additionally, merchants without a digital presence can leverage the platform to market their products online to reach more customers. Naturally, merchants will also have access to a unique target demographic – the financially underserved community.
Capital C will share more information about ChopNow closer to its official launch later this year.
“Being the first institution to invest in Capital C in 2018, we are pleased to see the company’s progress,” shared Doctor FK Fooco-owner of Luminor Capital.
Beyond the horizon, Capital C also expects an expected compound annual growth rate (CAGR) of 132% between 2021 and 2025. The Group has disbursed over 260,000 loans in Singaporeand has since received the following accolades: Singapore’s Fastest Growing Company Award (revenue growth) and the Singapore Prestige Brand Award in recognition of its activity and service to the financially underserved.
Beyond SingaporeCapital C plans to expand to The Philippines and Malaysiawhere they are licensed to operate, then throughout ASEAN and Oceaniaregion.
About Capital C
Capital C Corporation is a holding conglomerate headquartered in Singapore which capitalizes on fintech, as well as the best emerging technologies on the market, to provide financial services to the underserved in both Singapore and South East Asia. Through its subsidiaries, Capital C Corporation provides comprehensive financial solutions to the underserved and invests in promising companies to create value for its stakeholders and investors. By using optimized workflows, platforms and the latest technological breakthroughs, Capital C Corporation maximizes its operational efficiency. This has allowed Capital C Corporation to focus on its specialized provisions which include strategic acquisitions, partnerships as well as financial solutions for the underserved.
For more details, please visit https://www.capc.com.sg
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