In a fireside chat at Echelon Singapore 2025, Nikhilesh Goel, co-founder of Validus, reflected on the fintech’s decade-long journey in Southeast Asia’s SME lending space. Since its inception, Validus has facilitated more than US$5 billion in SME loans, backed by US$60 million in equity and nearly US$500 million in debt funding. Goel attributed their survival and growth to prioritising common sense over market hype, emphasising persistence and a quiet, determined approach.
The company faced significant hurdles, particularly in the post-COVID environment when capital flows tightened, forcing them to rationalise manpower and restructure operations. A pivotal moment came when Validus sold its Singapore business to the Grab–SingTel digital bank joint venture in a cash deal, ensuring continuity without any job losses. This move highlighted their pragmatic approach to sustainability while safeguarding their team.
Throughout the discussion, Goel underscored the importance of people-centric practices, both in how Validus serves its SME customers and in how it treats its employees. He also urged startups to adopt smarter, more resilient business models, especially in volatile markets, to withstand shocks and secure long-term growth. His insights offered a candid perspective on endurance, adaptability, and leadership in fintech.
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