Right Choice Capital CEO and Founder Kodi Kodrowski
Singapore-based business financing company Right Choice Capital has received approval to acquire Rural Bank of San Luis (RBSL).
RBSL is a fully licensed rural bank in the Pampanga region of the Philippines with a 50-year successful operating history. It provides savings, time deposits and lending to MSMEs and individual consumers.
The acquisition is part of Right Choice Capital’s broader banking roll-up strategy, with another bank acquisition currently under negotiation.
“We are expanding RBSL bank with a fully digital product range while retaining its personalised, relationship-driven core business for MSME and individual customers,” Right Choice Capital CEO and Founder Kodi Kodrowski said.
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In addition, Right Choice Capital is currently raising US$10 million towards its Series A equity round from undisclosed investors. It plans to use the capital being raised to support its rapid scaling and expects to acquire additional bank & financial services businesses during Q1 and Q2 of 2023.
“We started as a regulated finance corporation six years ago and have steadily added multiple licensed business units, including remittances, SaaS, knowledge-process outsourcing, and merchant acquisition (card services) business,” he added.
“This is all part of building out a fully diversified FinServices Group with a complete range of services for the still underserved SME, MSME and consumer market sectors in the region,” shared Kodrowski.
Right Choice Capital is the Singapore parent company for the group’s financial services and banking entities in Singapore and the Philippines. The diversified financial services group has approximately 100 employees across ten office branches in the Philippines and Singapore.
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