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Capital C Corporation, a Singapore-based financial services provider, secured S$74 million in funding from PhillipCapital, Luminor Capital, Paradise Group, Citystate Group, various family offices and Ultra-High NetWorth-Individuals. Funds raised will be used to serve their lending capabilities and expand their digital financial offerings to provide a seamless experience and also competitive credit rates to underserved communities in Singapore.
“Capital C was born after John and I started a business in our early years, where we struggled to get loans as a relatively new and small business in the market. It inspired us to help those who find themselves caught in the same struggle.With our experience, we were able to venture into the financial sector and launched Capital C with one goal in mind, to develop and provide financial services to any person or company seeking access to credit. all walks of life,” said Jeames Cheow, co-founder, Capital C.
Capital C expects an expected compound annual growth rate of 132% between 2021 and 2025. The company has disbursed over 260,000 loans in Singapore. Beyond Singapore, Capital C plans to expand into the Philippines and Malaysia, where they are licensed to operate, and then into the wider ASEAN and Oceania region, the company said in a statement.
“Citystate Group Pte Ltd invested S$2.25 million through a combination of debt and equity in Capital C’s digital auto finance arm, Capitall Auto, in 2019. We believe Capital C’s unique positioning will enable it to continue to develop and grow exponentially in the coming years through good leadership, digitalization and gradual market capture,” said Leow Tze Wen, CEO of Citystate Capital Asia Pte. ltd.
Founded by two brothers, Jeames Cheow and J John Cheow in 2011, Capital C is a conglomerate that offers an ecosystem of organized financial services to change the landscape of conventional financing using its innovative loan origination methods with a particular focus on people. financially underserved. Its financial services include Individual Finance (customers can acquire cash loans in 8 minutes), Capitall (empowers SMEs through various financial solutions) and Capitall Auto (digital auto finance platform provides flooring as well as internal loans).