Singapore-based fintech platform that specialises in alternative lending in Southeast Asia, Helicap, today announced its acquisition of securities firm Arcor Capital for an undisclosed sum.
As a newly acquired company, Arcor Capital will work together with sister company Helicap Investments (under the Helicap Group) to raise S$250 million (US$180 million) in capital from accredited investors.
Helicap Investments itself has obtained Registered Fund Management Company status in April. It aims to connect underserved consumer and corporate credit market in Southeast Asia by using its proprietary, data-driven analytics platform.
Having invested in eight Asian alternative lending platforms, Helicap Investments will launch its first fund with a target AUM of S$200 million (US$144 million).
Following the acquisition, Arcor Capital co-founders and managing partners Patrick Hong and Rahul Khemka will remain in their senior management roles.
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Arcor Capital co-founder Simon Ong will also remain in his role as Senior Advisor to the company.
In a press statement, Helicap Co-Founder and CEO David Z. Wang named the acquisition as a “landmark moment” for the 18-month startup.
“The acquisition, together with Helicap Investments successfully obtaining registered fund management company status, enhances the Group’s leading position in the alternative lending market and enables us to immediately ramp up our engagement with sophisticated investors via debt securities fundraising and credit fund management,” he said.
“We are delighted to welcome stellar finance professionals – Patrick and Rahul – to the Helicap family and
leverage their decades of experience to further add to Helicap’s reputation of backing sound and reputable companies,” he continued.
Arcor Capital specialises in private debt securities and growth capital for early stage and mid-market enterprises in Asia.
It holds a Capital Markets Services (CMS) licence for dealing in securities from the Monetary Authority
of Singapore (MAS).
As for Helicap, the company facilitates loans to business owners and individuals who are unable to access loans provided by traditional financial institutions such as banks.
Founded in 2017, it raised a US$5 million Pre-Series A funding round led by East Ventures and real estate conglomerate Soilbuild Group Holdings in September 2018.
Image Credit: Helicap