The Social Loan Company (TSLC), a Singaporean FinTech start-up, has raised over $25 million to enhance its market presence, manpower and production in Abu Dhabi.
The company said an investor consortium led by Abu Dhabi Global Market-domiciled ARV Investments took part in the funding round.
ARV Investments is a global vehicle under ARI Holding, an Abu Dhabi investment group that has the mandate to invest globally.
International institutional investors, such as Rothschild & Co, also launched a Series B funding round of over $100 million for TSLC.
TSLC CEO & co-founder Deepak Saluja said that his company seeks to enter new markets in Latin America, the Middle East, Sub-Saharan Africa and Asia-Pacific.
Appreciating Rothschild role, he said that they were excited to have such a global institutional investor to their Series B funding round, which would help them enhance innovation, achieve breakthrough growth and fulfil their mission.
TSLC was founded in 2016 and is popular for its ecosystem of Artificial Intelligence-powered, big-data-driven personalised financial solutions. The funding would help boost its digital lending operations and enhance its AI capabilities in targeted markets.
The company has over 8 million digital natives on its platform in India under the brand CASHe. It recently established a presence in the UAE as it plans ‘a mobile-first credit-led platform’ in the Middle East within the next six months. Once launched, the platform will create affordable and personalised credit to middle-income consumers.