2020 has been a year like no other. The New Normal – one we had not seen before, much less anticipated for. Despite the odds, if we could describe this year in one word, it would be incredible.
As a team we’ve embraced the challenges and opportunities that came our way, and we’re proud to share some of our key milestones this year:
✅ We disbursed a record SGD 650 million to date across our markets in Southeast Asia, fueled by our data-driven partnership model – Batumbu has disbursed over IDR 1.3 trillion in loans to SMEs in Indonesia, and Validus Vietnam has grown to become the largest SME financing platform in the country.
✅ Amidst the height of the pandemic, we raised USD 14 million in Series B+, and have since gone live in our fourth country, Thailand. We’d like to thank our investors Vertex Growth, Orion Fund managed by K3 Ventures, FMO – Dutch entrepreneurial development bank, Vertex Ventures, Openspace Ventures, AddVentures by SCG and VinaCapital Ventures. Their strong support, particularly amid a volatile market, reaffirms their confidence in Validus, and is testament to our team’s strengths and commitment in addressing the SME financing gap in ASEAN
✅ Our mission to address the SME financing gap received a further boost in Singapore as Validus was named a Participating Financial Institution for the Enterprise Financing Scheme by Enterprise Singapore. We look forward to doubling down on our efforts to impact and empower SME growth in the country
✅ We were named the winner at the prestigious MAS Fintech Awards 2020 (Singapore Financial Institution). It’s an honour to be recognised alongside OCBC Bank and DBS Bank for our fintech capabilities and for making an impact that matters
✅ Batumbu reached a key milestone of disbursing over IDR 1 trillion in productive loans to Indonesian MSMEs, a record for a young Fintech in Indonesia
✅ Validus Vietnam has grown to become the fastest-growing Fintech for SME financing in Vietnam since inception a year ago, and is on track in its goal to increase access to timely, affordable financing for SMEs, thanks to the strong support of our partners including IFC
✅ We are also incredibly excited to announce Siam Validus in Thailand which will be officially launched early next year. Watch this space for more updates!
Adversity is the birth of creativity and this year has been one with unprecedented circumstances. When pushed out of our comfort zones, that is when the real learning begins. We’re very proud of our team. They have shown grit, determination and the willingness to roll up their sleeves with everyone taking on additional responsibilities. It is our honour to work alongside each and every one of them. We would also like to take this opportunity to thank our investors and partners for their belief and trust in Validus.
As we bid farewell to a difficult year filled with many firsts and we head into 2021, a different set of challenges await us. Life as we know it would not be the same. We are not resting on our laurels.
Our journey continues, onwards and upwards!
Best wishes for the new year,
Ajit, Vikas, Nikhilesh