Helicap Closes Largest Credit Facility Yet with Xendit's XenCapital: USD$50 Million to Empower Southeast Asian Businesses
Summary
"Our partnership with XenCapital aligns with Helicaps mission to ease access to capital to underbanked businesses in Southeast Asia, and we are honoured to work together to achieve this long-term vision. This collaboration enables us to expand our reach and provide much-needed capital to our merchants in the Philippines and beyond," said Moses Lo, Co-founder and CEO of Xendit.Helicap as a group together with its regulated subsidiaries, have facilitated over USD$370 million in transactions since 2018. The companys goal is to fill a USD$400 billion financing gap that banks are unable to serve and deploy capital to 300 million underbanked through 1,000 originators in the region. Xendit empowers over 6,000 merchants, including major corporations like Samsung, Traveloka, OYO, Garuda Indonesia, and Lazada, by providing a seamless and easy-to-integrate payment gateway. XenCapital leverages a combination of alternative data sources and unique risk scoring criteria to tailor financial solutions to businesses specific operational needs and growth aspirations.