Singapore-based fintech firm Helicap and Indonesia’s Bank Danamon have entered a strategic partnership to support the fintech and alternative lending industry in Indonesia.
With this partnership, the pair aims to position themselves as a “one-stop solution” for non-dilutive growth capital targeting fintech, alternative lending firms and micro, small and medium-sized enterprises (MSMEs) across segments such as supply chain, leasing and e-commerce, among others.
The collaboration will leverage Danamon’s extensive banking network and expertise within the country and Helicap’s technology including proprietary data analytics, risk assessment, investment selection and portfolio management capabilities. Beyond providing funding, the pair aims to create an ecosystem that caters to the debt financing needs of non-bank firms at every stage of growth – from seed to initial public offering (IPO).
Commenting on the partnership, David Wang, CEO and co-founder of Helicap, said: “By combining our credit expertise and resources with Danamon’s extensive reach and banking know-how, we are creating a truly unique and comprehensive solution for fintech and alternative lending firms across the region.”
Founded in 2018, Helicap connects global investors to private debt opportunities in Southeast Asia, Hong Kong and Australia. Since inception, it has raised more than $20 million in paid-up capital and deployed over $250 million worth of capital with their in-house data analytics expertise. Through its network, it claims to have access to 200 million potential borrowers in the region.
Established in 1956 and headquartered in Jakarta, Bank Danamon is majority-owned by MUFG, Japan’s largest bank, and is the country’s sixth-largest bank in terms of assets. It is supported by a network of 863 branches and ATMs.
