Jenfi, a Singapore-based “growth-capital-as-a-service” platform, has secured $6.6 million in pre-Series B funding to further expand its offering. According to Dealroom, the funding round was led by Headline Asia, with participation from Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, and Atlas Ventures. The platform aims to address the challenge faced by online businesses, such as e-commerce sellers, SaaS providers, and consumer tech companies, in obtaining capital for their growth expenses from traditional financial institutions.
Unlocking Rapid Financing for Online Businesses
Jenfi’s unique approach allows online businesses to access revenue-based financing in as little as a day. Since its inception four years ago, Jenfi has deployed over $25 million in non-dilutive capital to approximately 600 companies. Notable customers include Gushcloud, Ralali, Hello Health, Lamer Fashion, Buy2sell, and Mystifly. With the latest funding, Jenfi plans to expand its customer base in Singapore, Vietnam, and Indonesia, while also venturing into new markets within Southeast Asia, such as Malaysia, the Philippines, and Thailand. Additionally, the investment will enable Jenfi to enhance its credit underwriting and risk assessment capabilities, including its proprietary risk assessment engine.
A Comprehensive Risk Assessment Engine and Tailored Financing Solutions
Jenfi sets itself apart from competitors through its proprietary risk assessment engine, which integrates with various data sources such as accounting software, payment gateways, e-commerce platforms, online marketplaces, and digital advertising. This integration enables continuous monitoring of borrowers’ business activities, including revenue growth and marketing return on investment. Jenfi’s risk engine allows for comprehensive creditworthiness assessments, resulting in tailored financing solutions for each business.
Machine Learning-Assisted Underwriting and Future Innovations
Following its Series A funding, Jenfi successfully deployed a machine learning-assisted underwriting system, enabling faster and more accurate underwriting decisions with reduced human involvement. Looking ahead, Jenfi plans to leverage synthetic data to gain deeper insights into client behavior and potential future outcomes. The company also aims to develop a tech platform that enables third parties to utilize its proprietary scoring models within their own infrastructure.
Flexible Repayment Plans and Transparent Rates
Jenfi offers flexible repayment plans ranging from three to twelve months, taking into account the unique needs of each business. Repayment amounts are determined based on a pre-determined percentage of revenue, which varies according to the industry. High-margin software businesses, for example, may be granted a higher revenue share percentage compared to businesses in other sectors. The total fees paid by a company depend on the credit score generated by Jenfi’s proprietary risk engine. The platform maintains transparent and competitive rates, ensuring no hidden fees or charges.
Future Expansion and On-Demand Financing
Jenfi plans to extend its growth capital offering to more clients through dynamic limits that can be adjusted based on client needs and creditworthiness. Additionally, the platform will introduce an on-demand financing product to cover recurring growth capital needs, such as variable monthly ad spend.
Positive Endorsement from Headline Asia
Aki Okamoto and Jonathan M. Hayashi, partners at Headline Asia, expressed their enthusiasm for Jenfi’s impressive technology, product, operations, and traction. They stated, “Jenfi absolutely stood out to us. Their technology, product, operation, and traction are significantly better than their peers.”
Jenfi’s commitment to providing rapid revenue-based financing, coupled with its tailored solutions and transparent rates, positions the platform as a valuable ally for online businesses seeking capital to fuel their growth. With its recent funding injection, Jenfi is well-positioned to continue its mission of empowering digital-native businesses across Asia.
Key People:
Jeffrey Liu | Justin Louie
Venture Capital Firms
Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, and Atlas Ventures
