Singapore startup closes oversubscribed Series A to boost regional growth, platform development, and loan access democratization after hitting profitability, 100K users served, and 100% annual revenue growth
Singapore fintech startup Lendela closed a $5 million Series A funding round led by Chocolate Ventures to expand its digital loan brokerage platform that has already served over 100,000 borrowers by simplifying and democratizing personal finance access through automation, open banking, and lender API integration across core Asia-Pacific markets after achieving consecutive 100% annual revenue growth and reaching profitability.
Lendela Closed a $ 5 Million Funds
Lendela, a Singapore-based fintech, closed a $5 million Series A funding round to boost its digital loan brokerage platform and democratize personal finance access.
Walter de Oude’s Chocolate Ventures led the oversubscribed round. Cocoon Capital, Phillip Private Equity, and Genting Ventures also joined.
Credits: Lendela – Singapore
Streamlining Loans for Greater Borrower Power
Lendela aims to simplify loan applications using automation, open banking, and lender API integrations. This shrinks a traditionally convoluted process into as little as 10 minutes from application to disbursal.
The firm’s reverse auction model helped borrowers save $3.7 million last year by surfacing tailored, competitive options from 100+ lending partners. Credit history or income profile does not limit choice.
“We are enablers, not disruptors,” said founder Nima Karimi, who calls the platform a beacon of transparency in an opaque industry. De Oude echoes Lendela’s daily customer value focus, spurring viral growth.
Credits: Lendela – Fintech
Regional Expansion Goals with New Funding
Proceeds will advance product development and support international expansion. After a recent Sydney launch, Lendela already operates in Singapore, Hong Kong, and Australia.
The Series A caps robust business momentum, including 100,000+ borrowers served, rapid team scaling, and consecutive years of 100% revenue growth. Profitability has already been achieved across core markets.
Lendela appears poised to scale its vision of lending accessibility and empowerment across Asia-Pacific off the back of strong traction and fresh funds.
