(L-R) Jenfi Co-Founders Jeffrey Liu and Justin Louie
Jenfi, a fintech company specialising in revenue-based financing, has raised US$6.6 million in pre-Series B funding.
Headline Asia led the round, with participation from Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, and Atlas Ventures.
Existing early investors also participated.
Also Read: The most important person I need to sell to is myself: Jeffrey Liu of Jenfi
With the funding, the fintech firm plans to expand its presence in Singapore, Vietnam and Indonesia by broadening its customer base while expanding into new markets across Southeast Asia.
Jenfi offers flexible funding options to digital-native businesses looking to scale, unlocking additional marketing, inventory, and growth spending. To date, it has deployed US$25 million in more than 600 companies.
Unlike traditional lenders where the focus lies primarily on evaluating financial statements, Jenfi integrates with a wide array of data sources to monitor and underwrite businesses, such as accounting software (e.g. Xero and QuickBooks), payment gateways (e.g. Stripe and Braintree), e-commerce platforms (e.g. Shopify and Haravan), online marketplaces (e.g. Shopee and Lazada) and digital advertising (e.g. Google, Facebook, and Instagram ads).
With real-time access to these data sources, Jenfi can quickly access, leverage and continuously monitor business activity and the health of companies, obtaining real-time data on revenue growth and marketing ROI.
Also Read: While traditional funding penalises a biz at its worst time, Jenfi gives them more leeway
Jenfi’s automated underwriting platform enables same-day decision-making and disbursement, streamlining the lending process for borrowers.
In August 2021, Jenfi secured US$6.3 million in Series A funding led by Monk’s Hill Ventures, with participation from Korea Investment Partners & Golden Equator Capital, 8VC, ICU Ventures, and Taurus Ventures.
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