Validus, Citibank establish $100m facility for SME financing

The facility is collateralized by SME loans by Validus’ Singapore arm.

Financing platform Validus and Citibank have established a $100m securitisation facility, collateralized by loans from small and medium enterprises originated by Validus in Singapore.

The facility is aimed to extend financing for SMEs not just in Singapore but across Southeast Asia.

The facility is also supported by First Plus Asset Management, a Singapore-based multi-asset investment manager focused on Asia structured credit and equities. 

Validus is also currently raising its Series C equity round for an undisclosed amount. The combination of the securitisation facility and Series C equity funding will support Validus’ plans for expansion, which involves introducing neo-banking products in Southeast Asia.